If You Wanna be a Trader, You Gotta be an Ice-cold Gangsta // Stock market trading tips, Options 101


If You Wanna be a Trader, You Gotta be an Ice-cold Gangsta // Stock market trading tips, Options 101, stock trading basics, options trading tips for beginners, stocks for beginners, stock trading strategies, stock trading 101, stock trading basics, stock trading for dummies, stock market explained, stock market for beginners welcome to looking at the markets with David Moadel all right i came up with a catchy title
for this one if you want to be a traitor you’ve got
to be an ice-cold gangsta well of course I don’t condone any
actual gang activity but I do recommend being ice-cold you got to be ice cold if
you’re a traitor kind of like Humphrey Bogart from back
in there back in the day yeah you got to keep
your emotions out of your trading that’s what I’m going to try to tell you today that’s my main message I want your
trading and you’re investing to be driven by data or information not by your feelings not by your
emotions not by fear or greed or anxiety or worry
or anything like that you got to just keep the noise and the
irrational fears out of it otherwise over the long term you’re going to have
a lot of trouble as a trader or investor yeah keep your emotions out of it
otherwise you’re going to end up in this vicious cycle here where you see the
market going up and up and up and you’ve got that fo mo FOMO fear of missing out you get that foam outfit photo kind of
feeling because you see everybody else in the market is making money and so you
get sick and tired of missing out and so you buy up here and maybe it goes up or
goes sideways a little bit but we all know how fast the markets can go down
and it’s going down and down and down and now another emotion kicks in first it was greed now it’s fear and so
you end up buying high and selling low because now you’ve got this fear that’s
gripping you the natural but in some cases irrational a desire to preserve capital I mean you
should want to preserve your capital but it can turn irrational if you do it at
the wrong time and so you take a big loss and then what happens as soon as you
sell for a loss well we all know what happens next of course the market just goes up and up
and up and now you’re back to the green phase again and yeah you can repeat this
until you’re broke and i don’t recommend that so you got to keep your emotions
out of it and that’s what i mean by saying you should be a nice cold gangsta yeah you want to use data information
instead of feelings to drive your trades and your investments for example Bollinger Bands you don’t control the
Bollinger Bands I mean you can control the settings of your bollinger bands but
once you’ve decided on the settings for example i just use the standard settings
for the Bollinger Bands once you’ve established the settings and once you’ve
established your indicated indicator or indicators you can also use RSI or you know macd
whatever your favorite indicators are and then just let the data come to you
let it let the market go where it’s going to go and use the facts that you
see in front of you on the chart for example with these bollinger bands i
like to use the top band as an overbought signal and there you can
either sell if you have a long position on already or you can even go short ok and then it
it hit the top band over here I know you can’t see it because I got
the chart off but it hit it over here and if you had shorted here you would
have made some money ok then you’ve got the bottom bollinger
band notice how it bounces right off the
bottom band if you bought it here you would have made some money you bought it
here what made some money bought it here
would have made a lot of money and then you could have sold you could have bought here and then sold
when you hit the top band that’s just one example of using data to inform your trading decisions just look at the chart and let the chart
tell you not not necessarily let the chart tell you what to do but let it let
it help to guide your decisions because all these indicators are just are really
just suggestions but it’s a lot better to use these suggestions then to use the
feelings the emotions that will cause you to behave irrationally yet because
the market is full of head fakes and by head fakes I mean it looks like it’s
going down and nope ok here it is again it’s going that nope and going down now ok and it could be
the other way around – sometimes you’ll see it looks like it’s
going up right back down go on up right back down so head fakes
work both ways and the markets going to give you lots and lots of those all the
time constantly head fakes and those can be frustrating and it could cause you to
want to give up because fatigue can be an emotion as well and you want to avoid
that that emotion just like you want to avoid most emotions ok so if the indicators are telling you
that this is probably a trade you should make and that you should hang in there
and stay in the trade then don’t don’t let something like
little head fakes shake you out ok stay in there if the data and if
reason is telling you to do that and you want to ignore all of the trash talkers
out there just trade according to your plan all right here’s an example of a one of
many postings I mean right now the market is at or
near the all-time high and whenever that happens you get a lot of trash talkers this is just one example and I blocked
out the name but it’s from the stock to its message board for the spiders SP why
the S&P 500 tracking ETF and you get comments like you know how the S&P 500
will never go down again never again really i mean do you believe that is
that rationale is is that even possible I think you know the market doesn’t work
like that ok it doesn’t just go up forever and there
are two trash talk their trash talkers on both sides I mean there are bearish trash talkers
just like there are bullish trash talkers there are people who say that this is
the big one that the markets going to have a big crash every time it goes down
a little bit you see the market go down five percent
or ten percent and suddenly all these people pop up talking trash saying all
this is the big crash it’s going to be worse than two thousand eight or worse
than 1929 well you don’t have to believe the
bearish or bullish trash talkers again trade according to your plan use the
data and not the emotions so for long-term success keep your trading gangsta keep it
gangsta and ignore the noise the trash talkers and the irrational emotions so i
hope this was helpful and I hope it motivates you to stay on track with your
plan maybe if you need help staying on track
you need to just somebody to motivate you somebody to keep you on track or maybe
somebody to help you devise a plan because if you don’t have a plan for
your trading or investing it’s probably not going to work out the
way you want it to so feel free to contact me my email
address is David Modell @ gmail.com I hope to hear from you soon thanks a
lot

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