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Welcome To 123 Learn To Trade!

123 Learn To Trade, Inc. was founded by trader Brendan Egan to provide a one stop shop for all your trading educational needs.

123LearnToTrade offers a 3 step method to help you learn how to trade in any market. We provide trading courses, trading mentoring, and trading forums all with one goal in mind:

Helping you become a profitable trader.

Please take a moment to register with us for free and start learning today! If at any time you have any questions, simply click here to contact us or call us at 1-888-612-6123.

Monitor Your Thinking Not Just The Market

Feb 28, 2012 - by BrendanEgan
BrendanEgan's Avatar When you trade, the first thing you probably do is pull up a few charts to scan over the market and monitor exactly what's going on today. But what if I told you that there's something more important to monitor than the market? Something you probably don't think about often enough..and that's monitoring yourself.

What Monitor Yourself?
In my experiences of working with thousands of traders over the last several years, most of them eventually have no problem with reading the market, charts, and finding decent trades. If you're still struggling with that aspect of trading you might want to take a look at our Price Action Trading Course which is an excellent learning resource.

But once you know how to read the market, your biggest thing you should be monitoring is actually yourself. The majority of traders I have worked with learn very quickly how to read and monitor the market, but many of them struggle with monitoring their thoughts and emotions. Trading isn't all about technical analysis, the majority of trading is all within your mind. How will you react to a position that goes against you? How will you react to a losing streak? How will you react to not following your plan?

Often times when I see in traders is a snowball effect -- they start out with one small problem with their thought process or mental state and it compounds until they reach a point where they can't do anything right and can't place a winning trade if their life depended on it. Problems with your thought process and discipline are so easy to overcome if you work on them immediately, but when you allow them to sit and fester they just continue to add on to each other until you reach some sort of breaking point. Unfortunately so many traders don't ask for help until they reach that breaking point, and in some cases it's too late...[Click Here To Continue Reading...]
0 Replies | 109,420 Views

Learning To Trade As A Beginner -- Where Do You Start?

Feb 14, 2012 - by BrendanEgan
BrendanEgan's Avatar Learning To Trade As A Beginner:
Much like learning anything in life, learning to trade is a long and often bumpy road. A day rarely goes by that I don't get an email or phone call from someone who is fairly new to trading and wants to learn everything they need to know about trading. While we have a great course and excellent coaching services, there's just no way for us to plug our mind into yours and transfer every single detail about trading to you.

With that being said, trading is going to require some trial and error, some self discovery, and a good amount of assistance from someone who has been down that road before. Here's five easy steps to follow for anyone who is new to trading:

1) Persistence & Ability: These are two things you must have to become a trader, and unfortunately without them you won't be able to get very far in the trading world. First off you have to have the ability to trade. Much like certain people don't have it in them to be a doctor, lawyer, construction worker, etc. many people also don't have it in them to be a trader. It just isn't the right field for everyone, and many people learn this the hard way--by losing a lot of money. Start out slow on a demo account to see if you think trading is right for you. In the same category is persistence. Once you determine you have the ability to trade, you need to determine if you have the right mindset to work hard at something that you could ultimately fail at. Trading throws up different road blocks every single day, and it takes a unique person to learn how to get around all the road blocks.

2) Knowledge: Knowledge is power in trading, and you need to make sure you have accurate information about basic and intermediate trading concepts. For a new trader, a great basic book is "Day Trading for Dummies" as it will briefly touch on every important aspect of trading so you know what to further research. For...[Click Here To Continue Reading...]
4 Replies | 113,044 Views

Trading Discipline -- Do You Have It?

Jan 10, 2012 - by BrendanEgan
BrendanEgan's Avatar I've talked to thousands of traders over the years. And while about half of them were using a strategy that doesn't work or that isn't time tested, the other half of them were using a winning strategy but still weren't winning. Nearly all of those traders who were using a good strategy but still not making money had one problem in common-- they were lacking trading discipline.

Trading discipline is a pretty broad term, and there can be literally thousands of reasons why traders lack discipline, but over the years I've narrowed it down to a few key moments and issues that cause traders to lose their discipline or never be able to find their discipline in the first place.

Not Able To Accept Losing Trades: This is probably by far the most common of all the reasons. I struggled with this in my trading because I (somehow) went for 2-3 months when I started trading without a single losing trade. Many other traders have winning streaks, and then when a losing trade comes their way (which it always does) they don't know how to react or handle it. The trader then ends up altering their trading plan, changing their mental state, and becoming increasingly alert and nervous; Before they know it, they've deviated from their trading plan and have lost their trading discipline.

Not Having Confidence In The Trading Plan: This is the second most common of all the reasons. Many traders simply don't trust their trading plan or don't trust their ability to execute their trading plan properly. This is a huge problem as the trader then second guesses every single decision they make and every signal they get from the trading strategy. This is probably the best opportunity for the trader to step back and either learn a new strategy or step back and reinforce their current strategy. A great tool to help traders overcome this step is our ...[Click Here To Continue Reading...]
0 Replies | 13,568 Views
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