Home
>
Stocks & Mutual Fund
>
Tips to Finding Other People?s Simple Trading Plans

Tips to Finding Other People?s Simple Trading Plans

Did you know you can make money (and a lot of it) by simply modeling someone else's trading plan? Yes, it is true. Unbelievably, there are many of trading gurus doing it RIGHT NOW.

All you do is model your system on an
already tested and proven trading plan.

If you are new to trading, or even if you have been trading a while, this is a secret very few successful traders talk about. You see, many successful traders diversify their trading float by trading other peoples tested systems - because it is so easy to do.

There are several reasons to start construction of your own trading system by stealing or borrowing another trading system's ideas and concepts.

FIRST, as I said, it is easy. There are some pretty good trading systems out there. Some are free and some are very expensive. The costs of these systems are not an indication of the value of the system. The problem with some trading systems is that they might not work for you. Now I am not talking about out right dishonesty, which is a big problem when trading. Rather, I am talking about your ability to effectively trade with the system that you are using or buying.

You need to use a system that matches your life style and personality. If you have a day job (not trading), do not use a system that requires you to stare at a screen all day. You will be distracted at work and miss the opportunities to make money or worse you will not close a trade effectively and will lose money.

Some systems have a potential to lose 20, 30 or 40% of your money before they are profitable. Can you handle a system that can drop your trading capital to half before making money? Or, are you prepared to have a string of 8 to 10 loses in a row before you have a winning trade? Some of the best traders in the world lose money on more than 50% of their trades.

An excellent trading method made famous by Richard Dennis and William Eckhardt and sometimes referred to as Turtle Trading, is one of the best trading system that I know. They obtain returns in excess of 20 to 100% per year. With that said, could most traders trade their system? Not a chance! Dennis and Eckhardt also loose on over 60% of their trades.

SECOND, do not reinvent the wheel. Face it, if you are a new or even a fairly serious trader, what is the possibility that you will come up with a totally new concept? There are some very smart and wealthy traders out there. Why not use their ideas? Remember Dennis and Eckhardt in the above paragraph. Their system is based on a "breakout" method.

I know most traders could not trade using their exact method but they could take components of it, like breakouts to validate or confirm a trend.

THIRD, use other systems to give you the basics of what is necessary in a system to make money.

So I guess the question is now... where do you find good trading plans to model? Before you start looking for trading plans, you need to have some sort of a check list. Take out a piece of paper and write down different things you want to accomplish with a trading plan. What do you want to learn? Go from the gut, your heart and pick things that mean something to you. If you just randomly select items off of a page on the internet, your list will not have meaning and personality and that is what you want. A system that you can personalize to fit your lifestyle.

This checklist will help you find successful trading plans that already work without developing your own. Develop a habit of constantly snooping around and doing research. I am constantly looking to see what other people are doing in the trading arena and if you keep it up, you will too.

-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
David Jenyns is recognized as the leading expert when it
comes to designing profitable trading systems.

His most recent course Ultimate Trading Systems is a step-
by-step trading roadmap to designing profitable trading
systems. Learn how *you* can become one of his students.
Click Here ==> http://www.ultimate-trading-systems.com

Receive David's free trading tips by sending a blank email to:
==> http://www.ultimate-trading-systems.com
-=-=-==-=-=-=-==-=-=-=-= -=-=-=-=-=-=-=-

shuttle to Midway Beardstown .. Lockport Chicago limo O’Hare

In The News:

Google’s scam detection features, powered by artificial intelligence, are a significant step forward in safeguarding Android users from fraud.

The FBI has issued a warning that scammers are impersonating doctors, police and banks using spoofed numbers as "smishing" texts surge nationwide.

Communities with unreliable internet service stand to gain after Amazon's Project Kuiper launched its first full batch of satellites into orbit April 28.

Tech expert Kurt “CyberGuy" Knutsson says unsubscribing from spam might actually backfire. Learn when to avoid it and stop junk effectively.

Tech expert Kurt “CyberGuy" Knutsson talks about how the first nonstop beating heart transplant, called zero ischemic time, at Taiwan hospital changes surgery.

Kurt “CyberGuy" Knutsson: FBI warns of "time-traveling" hackers.

Kurt “CyberGuy" Knutsson talks about a soft, vine-like robot called SPROUT that aids safe survivor rescues in collapsed buildings.

Health insurance giant Blue Shield of California confirmed it had been sharing private health data of 4.7 million users with Google for three years without even realizing it.

Delta and JetZero’s blended wing body aircraft marks a meaningful step toward a cleaner, quieter and more efficient future for air travel.

Recent reports show many common passwords can be cracked in literally seconds. Kurt the CyberGuy explains how to strengthen your passwords.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Iron, a robot that stands 5 feet, 8 inches tall and weighs 154 pounds, combines advanced artificial intelligence with human-like movement and exceptional vision.

Hertz, the rental car giant, recently confirmed that customer information was exposed through a cyberattack on one of its software vendors.

There are a number of features with AirPods you may or may not know about to take your listening experience to the next level. Kurt the CyberGuy explains.

These 35 Chrome extensions have privacy and security concerns. Tech expert Kurt “CyberGuy" Knutsson says to delete them now.

Tech expert Kurt “CyberGuy" Knutsson says 329,000 mph fusion rocket promises to be fast, disruptive and enable deep-space missions.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech expert Kurt “CyberGuy" Knutsson says a new autonomous AI is a game changer that also raises privacy risks. Is your data safe?

Tech expert Kurt “CyberGuy" Knutsson says robots and drones are revolutionizing fruit farming with faster picking and smarter handling.

Landmark Admin revises May 2024 cyberattack scope to show twice as many people were affected. Kurt “CyberGuy" Knutsson gives tips to help stay safe from an insurance data breach.

Tech expert Kurt “CyberGuy" Knutsson talks about how Yamaha’s hydrogen outboard motor could revolutionize boating with zero emissions.

Tech expert Kurt “CyberGuy" Knutsson reveals how to memorialize or remove a deceased loved one’s Facebook account and protect their digital legacy from misuse or scams.

Tech expert Kurt “CyberGuy" Knutsson says an Apple Watch saved psychiatrist Amanda Faulkner by detecting deadly leukemia early.

Scammers and fraudsters are increasingly targeting the most vulnerable, especially nursing homes and the personal data of their residents. Kurt the CyberGuy has safety tips.

Infected USB flash drives can spread malware among multiple organizations in ways that can easily bypass traditional security systems.

Tips to Finding Other People?s Simple Trading Plans

Stocks & Mutual Fund