Knowing is not enough - we must apply. 

Wishing is not enough - we must do.

Johann Wolfgang Von Goethe

 

 

 

Heads Up 

Welcome. If you are a trader or aspiring to be one take a look around and you´ll find some useful articles, videos and resources. Hopefully you´ll find something of interest. 

Wondering why I´m quoting Goethe above? Well, its because it seems to me to encompass much of the essence of trading especially for those just starting out on the journey. There´s no way around the central fact that trading is a tough business, but you can learn how to do it. With an open mind and a readiness to really get down to some serious learning, its not that big a deal to understand chart / technical analysis, some aspects of fundamentals and where on the charts trade opportunities offer the best odds. But that´s only half the story.

 

To be a good trader you must do! Trading is about execution first and foremost. Some of the best paper traders are fantastic analysts but they can´t make money because they can´t execute their ideas. Goethe also said "Thinking is easy, acting is difficult, and to put one's thoughts into action is the most difficult thing in the world". Once you understand this and know how to deal with it  - you´ll become a trader.

For those of you looking for further help take a look at my one on one coaching service. Additionally check out my Performance.  You can also see some of my trading set ups and how I trade here

 

 

 

I don´t want to discourage anyone by my comments above I just want to point out that trading is a complex business which attracts many unwitting dreamers into believing its easy to make a fortune at the chart face. Sadly it is not a ´get rich quick´scheme many trading educators suggest. They mainly focus on the analyst side of the coin because thats really the easy part! Doing what you know time and time again taking the losses as part of the winning process, navigating daily context, being mindful enough to know when you´re wrong and switching bias and continuing to sharpen your skills day in day out is what will determine your success as a trader.     

That said, trading is not rocket science as the basis of all good and profitable trading stems from one thing: understanding support and resistance. Trading may be complex but it need not be complicated.   

 

So while a good grasp of the basics - technical analysis, chart patterns, risk, money management and price action - is essential, being able to see support and resistance in the context of the trading session and / or instrument you are trading and acting on your analysis is the core skill you need to learn to make money.

I might add that a basic appreciation of macro economics will help but that is something you can learn ón the job´.  

 

Only by understanding ´context´ and what constitutes support and resistance will you be able to anticipate what might come next and start to think in terms of probability. There is no short cut. It takes time, energy and commitment. Perhaps the most complicated thing you will have to address is the tricky problem, unique to trading in my view, of the psychological pressure trading will put you under. 

 

Taking action to address what you need to know and learn at the outset of your trading journey will provide the best foundation for success. Once you have started to acquire this, practice will help to build your confidence. Putting it all together through execution time and time again will make you a trader. 

If you would like to know more give me a shout and we can have a chat to see if I can help get you on the right path. You can always get me on mark@markwogan.com

 

 

 


First up a few things you should know:

  • There are no silver bullets that will make you a millionaire trader overnight. Its down to you.   

  • There is no ´holy grail´ set up or trade. Keeping things simple using Support and Resistance is as much the holy grail of trading as you are likely to find.

  • There are no secrets held by the financial ´illuminati´ which, if you knew, would instantly turn you into a megastar trader. You´d be surprised how many normally sane people fall for this. Nothing further to be said here.

  • You can check your charts for a few minutes while you´re in bed every morning or on the beach and make a fortune. No you cant - get real. This is a tough job - if you are not up for some hard labour - forget it.

  • Wherever you see the words Lifestyle or a picture of a Gucci shopping bag and a Lambo - well, what can I say - if you fall for that you really should consider something other than trading :). 

Anyway, just thought I would mention them.

   

 

  • Twitter Social Icon
Friendly Handshake