“No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
WHAT DO WE DO?
ABCD trading was launched with a huge amount of enthusiasm and passion for analyzing price movements in financial markets, all with the aim of bringing the world of active trading closer to interested clients in a unique way. ABCD trading is a place where you can educate yourself in various areas of Technical Analysis – from basic to advanced trading strategies, ABCD wave theory, and Introduction to Elliott’s wave theory. We are particularly proud of our mentoring program quality. Through this program, our clients can apply their knowledge and experience, with the help of mentors, in real market conditions with the aim of achieving sustainability and profitability.
Trading is our passion, and with such an approach, we guarantee the highest level
of dedication meticulously to you!
HOW TO BECOME A SUCCESSFUL TRADER?
Many years of studying trading strategies do not guarantee successful trading or sustainability in the “live” market. When I started trading on the FX market about 20 years ago, I did not realize how difficult it is to be a sustainable trader, and how important it is to define in advance each parameter when opening a position. My trading would consist of opening an uneven number of lots, an “ad hoc” stop loss strategy, and the profit target would depend mostly on my “feeling” for the market situation. Countless times, that “feeling” for the market would leave me at key moments, and the losses in those situations would be disproportionately large compared to the total balance in the account. Can we thrive in trade without a plan and solid rules? If there are no strictly defined rules, there is a high probability that the trader will fall into a trap, and if he/she does not have enough experience, it is difficult to get out of that trap. Experience has taught me some of the most important rules in trading, and why it is important to follow them:
⦁ Follow the trend (“Trend is your friend”) – certainly one of the most important rules, because you should keep in mind that the market is always right. Regardless of which type of trader you belong to, the correct approach is to open positions in accordance with the dominant trend, since it is much more likely that the price will continue to move in the existing trend. Some of the biggest losses I’ve made were in open trend-opposition positions. Corrections within the trend should be used as opportunities to enter a position in the direction of the dominant trend tendency!
⦁ Define the trading plan – determine the maximum amount of money we can open each position with, determine the maximum acceptable risk according to our account balance, determine the place and time of entering the position, determine the stop loss and take profit (risk/reward ratio). Trading without a plan is like trying to sail the ocean alone without ever having sailed before!
⦁ Define the loss (stop loss) – there are two mistakes that traders repeat most often, not setting a stop loss and moving the stop loss. Sometimes you can allow yourself to repeat the second mistake, but it is pure madness not to set a stop loss, especially in conditions of high market volatility. Mathematics states, that if you lose 50% of your money in the account, you need to make a profit of 100% to get back to the initial amount!
⦁ There is no 100% success – being a trader and expecting constant winning positions is not realistic. The sooner you put your brain in psychological “balance”, the sooner you will start making money. Losing positions are an integral part of a trader’s job and should not be avoided. One of the most common strategies that traders know how to use to avoid loss is – averaging a negative position. A strategy that is most often used by traders who cannot accept a losing position, because they want to emerge from every trade as winners. The loss should be accepted as a statistic in an infinite series of open positions. Trading is a marathon, not a 100 m race!
⦁ Learn from mistakes – in order to be able to reach the level of successful trading, it is very important to detect all the mistakes you often make and work on not repeating them in the future. If you manage to overcome yourself (your character), you are well on your way to becoming a successful and sustainable trader. The recommendation is to keep a trading diary in which you will write down your strategies, analyses, emotional states, and expectations. After each open/closed position, you will be able to analyze what you did well and what you did poorly. Bad habits should definitely be dealt with, especially in trading!
Successful trading is not and should not be a mystery, nor is it something you will learn and master overnight. Sustainable profit-making is almost impossible without acquiring experience and planned educational process.
How to determine trends in the market, how to quickly and simply recognize a potential opportunity for making a profit, what tools to use when creating analyses, how to position yourself depending on the time horizon (time frame), how much capital to use in trading, and how to protect capital from unfavorable market conditions opportunity plus how to become and remain profitable in trading?… These questions are only just a fraction of the ones to which you will receive very precise answers applicable in practice. Clients who undergo all training levels can expect better analysis of market opportunities on charts and a safe step into the world of active trading.
A lecturer with over 20 years of experience and a unique training concept is the greatest value and guarantee of ABCD trading educational programs.