We would like to introduce Rosemary and Jan, who are currently completing our Online Systems Building Program, and are on their way to becoming consistent full-time traders.
In Trader Profile, you will find out more about their journey.
Jan and I are partners in life and in trading. Consequently our trading challenges involve ‘syncing’ both our perceptions and our emotions with the market, as we decide what trades to take and when to book profits.
The benefit is our trading is a partnership and we have company on our trading journey. In addition, trading provides us with an activity we can easily slot into our busy retirement life. It also provides us with the flexibility that we can trade anywhere there is reliable internet!
Brief background about your trading
Our employment background was in the School and Tertiary Education sector.
Jan as an English Teacher and I as a Psychologist and Academic; very different to professions concerned with finance and economics. We were a couple of blank canvas’ who had a lot to learn about trading. In fact we had to learn everything from the very beginning.
Our trading journey began about four years ago and until we joined the team at Trade View, we were frustrated with our ‘up and down’ yoyo trading journey.
We are grateful that we met the team and were introduced to their business models. They provided us with a trading roadmap and GPS.
They highlighted speed humps, traffic lights, red light cameras and other obstacles. We studied hard, listened intently to his guidance and tried to learn from his research and experience.
When we followed the rules and stopped taking detours and shortcuts we became more consistent. In 2015 we had our first three consecutive profitable months. We thought we had arrived at our destination – mastery of the market. However, it was a false break- we plateaued and continued an ‘up and down’ progress because we became complacent and inconsistently followed our rules.
However over the past 3 months we have gotten back on track, and have had the best months of our trading history.
Our Successes and Failures in learning to trade
Our success has been choosing high probability trades and learning when to book profits. We are now on a steady, profitable trajectory. Demonstrating patience, discipline, hard work, consistency and positivity that has modelled to us will ensure our continued trading success.
Our failures have been primarily due to not managing our emotions:
- Fear of missing out and fear of losing money: Chasing trades, procrastinating and not taking valid setups, or closing losing trades prematurely before they become profitable.
- Greed: Staying in profitable trades for too long and not booking profits; then having trades turn and become cost of business trades.
- Overtrading: Too many positions leading to confusion and indecision.
What you learnt at Trade View
Robert and the team at Trade View are welcoming and encouraging and provide great education and support.
The training program with its detailed Modules and self assessment tools, combined with monthly webinar reviews is what we attribute our success to.
The team has provided the trading strategies and demonstrated the discipline we need to manage our emotions, and different personalities, to be successful traders. Without his mentoring and constant encouragement, we would remain bogged down on some back road or continually getting lost.
We have learnt from Trade View that to become a successful Trader, we need to learn about ourselves. Mastering our emotions is so important in trading. When we are objective in our decision-making and unemotional about our successful and unsuccessful trades, we know we are on the right track.
What are your future Goals?
Our trading journey has been a roller coaster of emotions (hate the market – love the market). However, our emotional world has steadied as we gain confidence in our judgement of which trades to enter and management of trades (when to close in profit or loss).
As we develop as traders, we plan to expand from Forex and include share trading. Our ultimate goal is to supplement our retirement income with trading profits, so we can enjoy our retirement more fully. We know we will be more profitable as we benefit from our association with Trade View, and continue to learn from our fabulous coach and mentor’s.
In summary- trading should be simple: “Let profits run and cut losses short”. But it is more challenging than just reading charts and analysing technicals. We believe that success in trading involves finding a mentor and a system that you can TRUST and has proven to be successful.
Our goal is to be more patient and disciplined traders, and to follow our rules and learn from our mistakes.
Thank you so much to Trade View for providing direction and a path to travel along. If we follow the road signs with confidence, we will achieve our goals as consistent, profitable traders.
Join us in our next In-House Systems Building Workshop to start learning how to automate your trades and develop trading and money management strategies that suit your needs.