Why I don’t believe in discord’s and why becoming your own trader is your only path to success.

The hardest part about becoming a trader is learning to make these seemingly big financial decisions with confidence, without hesitation and with a clear plan of action in mind.

When you first start out as a trader the act of “pulling the trigger” on trades can feel daunting. After all, even as a new trader you will find most trades will require more capital than the cost of a new TV, car payment, and even your mortgage. 

The idea of losing this money is not very pleasant and many new traders think the solution is to get cues from other Professional Traders via discords, alert services, etc. but the truth is they are probably playing a completely different game than you.

Your account size, risk tolerance, buying power, and most importantly, your trading goals are all completely unique to you. Often relying on these types of services will lead to even more bad trading because you lack the most important factor.

An understanding of why we are executing these trades, our expected outcome, and the amount we plan to risk before deciding to cut a loser. Good traders know how to take the good with the bad and accept that they are not going to be right 100% of the time. The truth is, the job isn’t to be right every time but to properly manage your risk and only take trades with very favorable risk:reward.

Joining these types of groups/services may be comforting in the short-term but very rarely lead to long lasting success in the markets. Here are the 3 Big reasons why your discord is failing you :

1. Group Think - this is a big one. Just because you and 100, 200, even 1000 people agree price should move in one direction doesn’t mean it will. What the group thinks will happen doesn’t matter. All that matters is what IS HAPPENING.

2. Confirmation Bias - most traders thaT join discord’s are looking for cues from other traders as to what they should do. However, if you entered your trade with a solid plan and a good attention to risk:reward then you don’t need anyone else to tell you what to do, you follow your plan, stick to the system. 

3. Cognitive dissonance - remember, just because the group thinks something it doesn’t mean THEY’RE right.. don’t let the opinions, emotions, trades of other people affect the trades your system identifies for you. All you need to do is follow your rules and taking trades with very favorable risk:reward. Ignore everyone else.

In the end you must learn to manage your own trades. No one else understands your buying power, risk tolerance and trading goals quite like you do. I don’t want you to lose your money, I want you to learn to grow it for yourself without the help of anyone! You must have a system to follow and a clear answer for every situation.

I assure you, there is one! Good traders know how to use their edge, create a trading plan, and stick to it and in order to find long-lasting success in this game, you will too. Before you enter any trade ask yourself these simple questions :

1. What do I expect the price to do and why?
2. When am I going to lock in my profit?
3. Where will I close this trade if I’m wrong?

If you can identify those 3 things before taking every trade you will already be miles ahead of the game. The trick after that is learning consistency and how to only take the best opportunities.

That’s what the MomentumOptions Trading System is all about. If you’d like to learn more please check out the Demo on our website.