LEARN FROM GENERALS OF THE
MARKETS - PART 15
“…Trading looks like work. It requires a certain level of
persistence just to even dip their toe in the water and some shiver and run
away before they give themselves a chance to 'get it'. This is exactly why the
wealth of the population is pyramid shaped, with only a few people rising to
the upper echelons.” – Loiuse Bedford
Daniel J. Zanger is a market
professional and trading analyst. Growing up in Los Angeles, his parents were
professionals (his father a physician and his mother a psychologist). He failed
to finish his college education, and later did some odd jobs. His interest in
the stock market began in 1978. Then, he started taking the stock markets
seriously. He bought a PC and began to study charts. He attended a William
O’Neil’s seminar, studied charts for tens of hours per week, and then became
highly proficient in picking winning stocks. He has the world record for 12-
month and 18-month percentage returns, for turning ten thousand, seven hundred
and seventy-five dollars into eighteen million dollars. Eventually, in a matter
of 24 months, he turned that roughly eleven thousand dollars into forty-two
million dollars. Because of this achievement, top magazines have published
inspirational articles about him. He’s
really one of the best traders on this planet. Many clients benefit from Dan’s
newsletters and technical analyses. You can get access to this at his website:
Chartpattern.com.
Lesson
There are invaluable lessons
to be learned from Daniel Zanger. Some of them are below:
(a). When you have the
correct mindset and education, you’ll thrive in the markets that others find
very difficult. This is mandatory, and there’s no other way around it. The game
of speculation has certain rules that ensure success. Seek there rules.
(b). You can learn successful
trading by your own trials and errors, but this method is risky and very
painful. Most people don’t survive this. The best thing therefore, is to learn
successful trading from those who’re experienced and victorious professionals.
These have learned their lessons and are prepared to help you so that you won’t
have the same hard experiences they’ve had.
©. You can purchase
instruments in dear markets if there are valid reasons for doing so. Dear
markets can often bring you the desired gains.
(d). If the market doesn’t go
according to your expectation, smooth it. If you’ve some long order and the
instrument you’re holding plunges, please sell. Dan is able to enjoy long-term
success, not only because he knows how to pick great stocks, but because he
knows how to cut his losses as many as they may be. He also knows how to exit a
market that was once profitable, but now losing its gains. You negativity
shouldn’t be more than what it should safely be. Whenever you realize that your
assumption is wrong, get out of the market.
(e). For as long as you can,
hold onto the stocks that are performing well (just as you lose patience with
the stocks that can ruin your portfolio). Even if a stock isn’t moving clearly
upwards or is consolidating too much for too long, you could sell it. It’s worthwhile
to hold onto a stock only when its value is rising.
(f). Look for the strongest
stocks only. Trade only the market that is performing well and trending nicely.
You should be able to do this before you make any trading decisions.
(h). Let it be a habit for
you to use stops always, because a market that’s moving strongly continuously
can experience abrupt end and turn significantly in the opposite direction; at
any time. You should have exit plans in place.
Conclusion:
You need to know that your trading results are the outcome of the decisions you
take. Whether you gave your money to a fund manager or you speculated based on
an analyst’s recommendation, it’s still your action. Using others as scapegoats
isn’t going to improve the matter. Those who’ve made progress are those who
accept their own errors and work on themselves for improvement. You’re the only
one you can really discipline. Please you don’t need to think of your past
failures, challenges and unfortunate circumstances. Your future trading career
is bright. When you think of this, the worry about the future uncertainty
disappears. You can face tomorrow with calm.
The article is ended with a
quote from Dan:
“…Bulls make money, bears make money, pigs get
slaughtered.”
NB: You would be
exposed to world-class, cutting-edge, and top-notch trading experiences here: www.advfn.com
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Copyright (C) ADVFN PLC
NB: If you want
to receive permanently free winning Forex trading signals, please send me an
email titled: “A Request for Free Trading Signals.”
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