Webinar: Why Traders Fail (And How To Overcome) with Matt Davio (MissTrade) - Psychology and Money Management | futures io social day trading
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Webinar: Why Traders Fail (And How To Overcome) with Matt Davio (MissTrade)
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Webinar: Why Traders Fail (And How To Overcome) with Matt Davio (MissTrade)

  #11 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,235 received

What did everyone think of the webinar?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #12 (permalink)
Elite Member
toronto, on, ca
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: futures
 
Posts: 17 since Sep 2011
Thanks: 3 given, 22 received

Great webinar... The two things that I really took from it was when he was talking about not having to many indicators, and when he said that one out of about 20 days, he will have a losing day, even though he traded his setup exactly how he always trades it, and that he would take the same trade the very next day, and went on to speak about not changing all your indicators because of a bad day if you are truly following your system.

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  #13 (permalink)
Elite Member
Boston, MA. United States
 
Futures Experience: Advanced
Platform: Ninja
Favorite Futures: Futures and Forex
 
Fibbee's Avatar
 
Posts: 79 since Sep 2011
Thanks: 68 given, 40 received


Great webinar, thanks Mike and Matt.

I gain so much more from the webinars about psychology and what habits separate the winning trader from the losing trader. Its nice to know that what I have been doing over the last couple months, that has lead to a new wave of profitability, coincides with the information presented in this webinar.

Mainly just:

Simplifying things.
Not altering your charts, adding and removing new indicators if you have a poor day.
Sticking to a specific plan and specific trade setups.
Focusing on other things other than trading to help balance the desire to trade.
Eliminating noise and randomness.
Finding your style.

These seem to be the prevailing talking points that all successful traders mention.

I think the best part of this webinar was what Matt said in the beginning about the importance of making trading simple and not over complicating things. I agree that there is an entire industry built around feeding people the idea the markets are complicated, and only the most sophisticated of strategies or the newest fancy indicator, can pull money out of the market. Its total nonsense.

FIBBEE

One of the ways that success in trading is kept out of your life, is by this desperate need to over complicate your trading and think that things should be harder. - Bob Iaccino
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  #14 (permalink)
Elite Member
Portland, USA
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: ZS
 
YertleTurtle's Avatar
 
Posts: 210 since May 2011
Thanks: 41 given, 343 received

I thought the webinar was great. I suggest that the key nugget everyone take away from this one is MANAGER YOUR RISK. I wanted to add my two cents to the discussion. When Mike asked the speaker what vehicle a beginner trader should look at I would like to add forex to the suggestions. If preservation of capital is a key to trading the scalability of forex is a huge plus. A new trader can risk a few dollars on a trade rather than a couple of hundred. The spread is also scaled so there is no penalty for trading small. Forex is also the most liquid market and with regular 100 pip daily moves there is ample opportunity to trade.

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  #15 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,354 given, 83,235 received


YertleTurtle View Post
I thought the webinar was great. I suggest that the key nugget everyone take away from this one is MANAGER YOUR RISK. I wanted to add my two cents to the discussion. When Mike asked the speaker what vehicle a beginner trader should look at I would like to add forex to the suggestions. If preservation of capital is a key to trading the scalability of forex is a huge plus. A new trader can risk a few dollars on a trade rather than a couple of hundred. The spread is also scaled so there is no penalty for trading small. Forex is also the most liquid market and with regular 100 pip daily moves there is ample opportunity to trade.

I agree on spot forex or in some cases the micro futures currencies. Covered in depth here:
Webinar: Where to start as a trader? (Part I: Instruments and Brokers)

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #16 (permalink)
Trading Apprentice
Calhan
 
Futures Experience: Beginner
Platform: eTrade
Favorite Futures: Stocks
 
Posts: 10 since Nov 2012
Thanks: 4 given, 3 received

Q&A Thread

Where is the Q&A Thread for this webinar?

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  #17 (permalink)
Elite Member
Western Slope+Colorado/USA
 
Futures Experience: None
Platform: ninja
Broker/Data: NinaTrader Brokerage, Interactive Brokers
Favorite Futures: Forex and CL
 
DropD's Avatar
 
Posts: 19 since Aug 2012
Thanks: 33 given, 21 received

trading with Matt

I was wondering if anyone has traded with Matt? I noticed he's having a $4.99 7 day trial, and just wondering if anyone has tried his methods and traded with him?

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  #18 (permalink)
Trading Apprentice
Brisbane
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 5 since Feb 2013
Thanks: 5 given, 1 received

Thanks for this I'll watch it soon and post my feedback. Looks like a great place to start my learning curve for today.

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  #19 (permalink)
Elite Member
chicago
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: My Future
 
Posts: 15 since Aug 2014
Thanks: 21 given, 2 received

Looks good, might check it out.

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  #20 (permalink)
Trading Apprentice
NGP MS India
 
Futures Experience: Intermediate
Platform: meta trader / ninja trader
Favorite Futures: futures
 
Posts: 16 since May 2015
Thanks: 26 given, 2 received

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Big Mike View Post
What did everyone think of the webinar?

Mike

i am not able to see any webinar? any useful webinar for non elite member?

thanks\
happy trading

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