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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.
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.
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 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?