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I can't even count the number of people who have asked me to provide a real time trade alert subscription service. Well for those of you interested in this service I have great news -- after much thought about providing this type of service, the answer is still absolutely not! Why is this good news? Because trust me--I am only doing this to protect you from yourself. There was a point in my trading that I signed up for several different real time trade alerts and even though I was spoon fed positions I still wasn't able to properly manage them the way the pros can.
In private coaching we often look at live positions and call them out in real time--the vast majority of these positions end up being winners and our analysis was correct. You may be thinking this sounds great and you would love to take advantage of my analysis, however my reason for not providing a real time trade alert service is simply because it really does not help with your trading education.
If you are truly interested in learning more about how I trade with price action, you would check out the Price Action Trading Course which is 6+ hours of instructional videos. However those looking for real time trade alerts generally don't want to learn my strategies but rather they want to piggy back my trades--which I have said time and time again doesn't end up working so well.
In the near future I am going to start calling out more positions that I spot on the 123LearnToTrade Twitter Account, so be sure to follow us on Twitter to receive these tweets, however there are no plans for any sort of live position calling subscription anytime in the near future. Far too many people will use these alerts the wrong way and end up not only hurting themselves from an educational and trading standpoint, but also end up hurting themselves financially.
If you truly are interested in real time position analysis, I would much rather do this in a more controlled and one-on-one environment so we can make sure you understand the purpose of this type of analysis and actually learn from it. Sign up for a free coaching consultation so we can talk more about this opportunity. And remember before you run off to sign up for some other real time trade alert ask yourself this simple question: Would you rather be given a few fish and maybe survive for a few days, or would you rather learn how to fish and be able to survive for life? For me, the choice is crystal clear.
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Remember that the market is always changing and that every moment in the market is unique. What works extremely well today may not work so well tomorrow. This is why in my Price Action Course I have 10 different strategies that I follow. Why 10? Well, these 10 are very effective and the also occur all the time.
It is important to understand that as the market changes and goes through cycles, some trading strategies will work better than others. It is important to not only identify this but to place your trades accordingly and be able to adapt to changing market conditions. This is the true difference between a mediocre trader and a successful trader. So just because breakout trades are occuring everyday for 2 weeks doesn't mean this will continue--and a successful trader is able to identify these cycles and adapt to them accordingly.
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Say I enter a trade that goes up 10 cents then down 10 cents then back up 10 cents. A lot of new traders would close out of this position at their entry price after this occurrence, or at unchanged. There is a lot of noise and manipulation that exists in the markets, and it is important to set a predefined stop loss and profit target and stick with them.
All too often when I was a new trader I would get nervous and think the trade was going to go against me and I would close out of the position prematurely with either a very small loss or a very small profit. I'm in trading to make money--not to make pennies on each trade. And after I would get out of the position 9 times out of 10 it would turn around and go in my favor, doing exactly what I thought it would do.
It is extremely important to follow your stop loss and profit target, and not close out of your trades before it is time to end the trade. This can be very difficult for some people to do, so if you need help with this concept drop by 123LearnToTrade.com and sign up for a free coaching consultation so we can talk over the issue.
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