You all know that my trading journey started with Vince Stanzione.
But most of you probably only see Vince as a one track horse so to speak. You see him selling his trading system and assume thats it, that’s all he has to offer. However, that’s totally the wrong picture.
You see, successful trading takes more than one approach. You need to diversify your trading strategies so that over time you profit long term.
If and when you are encountering a losing run with one strategy, you’ll often find that another area of your account and portfolio is working absolutely fine with one of your other strategies.
When I really started to make good money [for me] from trading, was when I started to listen to Vince’s advice on using a range of different strategies.
I was no longer tied into just spread betting. I started to trade longer term by buying stock and ETFs. I started to use seasonality strategies and trade the indices more. I learnt other little strategies from Vince to use that added to my results over time.
My Trading Systems
I also developed my own various trading strategies to use; strategies that suited my shorter term trading fascination.
These strategies were developed so that I could trade in a way that could make extra cash on a monthly basis; rather than waiting months and years to reap my rewards.
In fact, my trading system that I launched and SOLD OUT of this year included four strategies for spread betting the markets. The idea being that you can learn more than the one strategy to maximise your earning potential over time.
I am also going to add another couple of strategies for my students to use before January 2019
Some of the money I make over the short term is reinvested into Vince’s longer term advice. Some is spent enjoying life.
It All Starts with Your First Step
But building up your trading strategy know how and indeed profits, doesn’t start at any other place than at the bottom of your personal ladder.
You’re not going to make it happen by staying stuck on the fence.
You need to take action, learn a handful of strategies over time and then rinse and repeat.
Yes, start with just one strategy. That makes perfect sense. But don’t become a one track pony. There are more than one very profitable ways to trade the markets.
It’s Not Always a Perfect Start
Many people claim that you can’t make money from the stock market. But that is obviously not true.
How is it that people like Vince Stanzione can do it? How can I do it?
Well, the biggest fact is that when we lose money, it is not a crisis where the attitude becomes negative.
New traders that start out trading and lose money go on to fear the markets. Their losing caused pain, albeit emotional, it still hurt.
This loss of money and the ensuing pain was enough to keep them from trading the markets again.
So they now say things like, trading the markets are a waste of time and money. Or, you’ll never make money from the markets. It’s always something along those lines.
If any of them actually got over the pain of their first losses then they might well have gone onto realising that the losses were all part of the winning game.
Don’t put all your eggs in one basket. Learn one strategy well to start off with, but don’t be shy to add to your trading arsenal.
You probably won’t ever hit the heights of winning trade after trade in your trading career, but that doesn’t mean you’re a failure or that you can’t make money in the markets.
Diversify and look to trade a handful of solid strategies over time.