| The Uncomfortable Truths Of Trading
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A rare occurrence is happening right now in the gold market 
There is something happening in the gold market right now that you need to be aware of… I urge you NOT to invest in anything before viewing this briefing. Because this information could be a true game-changer for millions of Americans. | |
 Greg Guenthner
Editor, Weekly Fortune Alliance
Seven Figure Publishing
Dear Wall Street Daily Reader, All the major averages are clocking new all-time highs. There’s no shortage of strong trades on the market right now… Unfortunately, conditions are also ripe for the market to eat new traders alive. The mental aspects of the trading game are extremely difficult to handle — especially during a powerful bull market. When the first wave of losses rolls in, complacent traders begin to crumble. Fear and greed rip the newbies apart. That’s why I started the Weekly Fortune Alliance—to give readers like you an intellectual edge in today’s fast-paced market. (For more information on my market crash technique, click here.) Today, I want to take a moment to transform your process and help you become a consistently profitable trader. This begins with learning some of the key uncomfortable truths of trading. If you can embrace these ideas, you just might have a shot at dancing with the big boys… Let’s dive right in… - You’re going to be wrong… a lot
It doesn’t matter if you’ve been trading ten years or ten minutes. If you’re playing the market, you’re going to hit a losing streak. It’s unavoidable. But many traders (especially those who are new to the game) are blinded by unrealistic expectations. They’re obsessed with being right instead of making money. So instead of selling their losers, they let ‘em ride. You can probably guess what happens next… The first step on the road to trading success is embracing your losers. Acknowledge when you’re wrong, sell when your stops are hit, and move on. There are plenty of professional traders out there who boast win rates of 50%-- or less! They’re staying consistently profitable by cutting losses early and letting the market work its magic. - You have to ignore the bulls and bears
The financial media loves to present the game of investing as a death match between the bulls and bears. Whenever an analyst pops up on the TV, the hosts will try to pigeonhole him into the bull or bear camp. But the most successful traders in the world don’t give a damn about bulls or bears. Instead, they’re comfortable adapting to changes in market conditions. If you’re prepared for anything, you’re less likely to fall victim to any preconceived bias. It’s all too easy to convince yourself that a move higher or lower is a foregone conclusion. Before you know it, you’ll end up trolling for other opinions that match your own. And once you enter this echo chamber, it’s difficult to reverse course. Adopting a neutral market mindset can be beneficial– especially in this market. If you’re not married to a particular camp, you can quickly react to changes in direction. Stay nimble and listen to the market. Leave the bull and bear soap opera to the talking heads on TV... Recommended Link
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Another major crisis is on the horizon that could make things even WORSE in 2021. | |
- You must let price lead your trading decisions—not narratives
Successful traders must go against the grain. That means you’ll sometimes find yourself betting against some of the market’s most popular ideas. That’s how you know you’re onto something good. I know the so-called experts are going to initially pan my best trading ideas. That’s because price leads the news. You’ll find most of your strongest trading opportunities are the quiet breakouts that everyone hates. But when all is said and done, you made money while the herd was stuck on an old narrative. There’s a lot of noise out there. Do you have the discipline to ignore it? Many folks don’t. They get caught up in rumors, guesses and hot tips. Don’t make that mistake. It never ends well… I’m sure you already realize how sloppy, undisciplined trading will cost you money. Sure, you might get lucky now and again. But you’ll never achieve consistent success shooting from the hip. Your trading rules keep you focused and profitable. If you’re reckless and break the fundamental rules of trading, you’ll end up broke. It’s that simple. Happy trading, Greg Guenthner
Editor, Weekly Fortune Alliance
Seven Figure Publishing P.S. Want More Trading Insights? Join me for a chat with my Weekly Fortunes Alert readers to talk about what’s going on in the market. The techniques I share will prepare you for any market, whether it goes up, down or sideways. Click here now to find out how to join, I look forward to talking to you soon! Greg Guenthner, CMT, is the editor of the Weekly Fortune Alliance and Seven Figure Signals. He has been with Agora Financial/Seven Figure Publishing since 2005. In 2020, the average position in Greg’s Weekly Fortune Alliance Portfolio had a return of over 20% with an average holding time of 6 days. Recommended Link
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