Vladimir’s Traders Workshop Review 5 Easy Steps To Become a Professional Trader!

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Contents

How to Become a Trader

Updated: March 28, 2020 | References

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Traders have to be able to quickly analyse lots of information and make well-informed decisions under high levels of pressure. Trading can be very profitable, but is also high risk. You can work for a financial institution, trading with the bank’s money, or money from the bank’s clients. You can also work with your own clients, advising them on good investment opportunities.

How To Become A Profitable Trader With A 9 To 5 Job – 12 steps

How To Become A Profitable Trader With A 9 To 5 Job – 12 steps

If you still have a 9 to 5 job, becoming a professional trader in your spare time can be quite a challenge as I know from experience. Pursuing the goal of quitting your day job to become a profitable trader often seems like an unrealistic task for most people but there are certain steps that can help you improve your trading while working 9-5 and finding time for hobbies and your family at the same time.

The problems which keep traders from making the next step are:

  • No structure
    • Most traders are all over the place, always changing their approach, every trade looks different, they jump from one timeframe to the other, change indicators, chase price and so on
  • No vision
    • It is very demotivating if your results are all over the place and nothing you try seems to work. System hopping and the “gambling” mentality are often the consequences.
  • No accountability
    • Trading can be very lonely and if you don’t have people around you that help you grow, trading can become very frustrating. And even if you are in contact with other traders, often it’s not supporting your development as a trader.

My top tips for becoming a professional

Here are our top 13 steps and tips that will help you improve your trading while still working in your regular 9 to 5 job:

1. Find a trading style that suits you

It’s important to have a trading style that fits your personality AND your schedule. The two broad categories and trading styles traders have to choose from are swing-trading and day-trading.

Usually, swing-trading is better suited for traders who have limited time and restricted access to charts throughout the day. As a swing-trader, you do your chart analyses during the weekends and before/after work and you manage and execute your trades when you get back from work. Swing traders also don’t need to observe the markets all day long which can free up even more time.

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If you are a Forex trader, you could also fit in a few hours of day-trading in the evenings since you’ll usually always find some active currency markets at any given time – but make sure that you can remain focused after your 8 hours work day.

ForexFactory offers a great tool that helps you understand which markets are active during different times and it also shows how liquidity changes during the day so that you can find the best currency pairs based on your schedule:

Tip 1: Decide whether you want to be a swing trader or a day trader. Audit your weekly schedule and your personality to see which style suits you best. Then, choose the markets and instruments accordingly.

In our premium course, you get access to both a swing trading and a day trading system at the same time.

2. Don’t ride the learning curve

This is the cardinal sin of trading; “system-hopping” refers to traders who frequently change their trading method every few weeks or months – or sometimes even days. Those traders usually never see any real improvements in their trading and profitable trading is impossible if you don’t fully commit to making one thing work.

If you always change your approach and don’t follow any rules consistently, all your trades will look different and you cannot analyze and make sense of your data. The only thing that will become obvious is that you lose consistently but you won’t find out what your greatest struggles are (except for a general lack of structure), what you should work on and what already works well.

You need to get a consistent approach and even though your results won’t look great in the beginning, at least you can start making sense of your trade review and slowly work on becoming better.

Tip 2: For the next 12 months, pick one system and make a contract with yourself that you will not change your method again. No matter what.

3. The money is made by waiting – trade your plan

Your weekend should be your most important day of the week. I personally do 80% of all my trading work on the weekends and then I do very little throughout the week. I mostly just follow my trading plans and do a quick trading plan update every 2 days.

As Jesse Livermore nicely put it:

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

Most traders easily over-trade because they don’t have a plan and they don’t fully know what to look for in a chart or a good trade. Become clear about your rules, then you can create trading plans and then it’s just a matter of waiting for the price to come to you. No more chasing and impulsive trade execution!

Tip 3: Price alerts are the ultimate time-saver and the most overlooked trading tool. Use them after you have done your weekend analysis. This means you have to do your weekend preparation as well 😉

4. Active improvement as a trader

I mentioned that you should avoid system-hopping at all costs, but the question that then naturally comes up is: “how do I turn my current (losing) trading method into a winning one?” Here are 2 tips and things you should focus on to improve as a trader:

#1 Identify your biggest problems and take responsibility

Traders often mistakenly believe that their lack of trading success is caused by their trading method which then usually leads to system-hopping. However, failure typically comes down to undisciplined trading, a lack of professionalism and a pure gambling mentality.

Unless you trade 100% automated, YOU are the weakest link in your trading routine.

Thus, the first step for you should be to identify your greatest problems and your most commonly made mistakes. Traders who always try to blame their system avoid taking responsibility and look for excuses instead of doing the work that is necessary.

Tip 4: Over the next weekend, review your past 30/40 trades and see what caused your losses. Then come up with a top 3 list with your most commonly made mistakes.

#2 Process-oriented thinking

Most people act from a goal-oriented mindset where they automatically connect winning trades with good trades and see losses as failures. Such a way of thinking shows an amateur mindset.

The professionals, on the other hand, act from a process-oriented mindset where they look at how well they have executed their trades and how disciplined they perform. Thus, for a process-oriented trader, a loss does not necessarily equal a bad trade if they have done everything they could.

Tip 5: Avoid monetary goals and for the next 2 months, stop looking at your P/L. This will be tough but the impact will be huge.

5.В What do you really want out of life?

There is an interesting survey I came across and it shows how people structure their day. The average employed American spends 7:45 hours at work on a regular workday. At the same time, the average American watches 2 hours and 9 minutes TV each day and only invest 25 minutes per day in education.

Also, the average sleep time is at 8 hours and 48 minutes which exceeds the recommended 8 hours per day by almost 1 hour.

When you are working towards becoming a profitable trader, you have to be clear about your priorities and make sure that your actions align with your goals. Are you willing to wake up one hour ahead of schedule every day, stop binge-watching random TV series, skip a night out with friends every now and then and re-invest that time back into your trading? You can easily find 2 hours right there.

Granted, those are tough calls to make and you might say that “you still need to live a little”, but putting in the work now to reap the benefits in a few years will take your life to new heights.

Tip 6: Audit your week and identify time wasters. Then, just eliminate 1 such time-waster and use it to work on your trading.

“The ability to discipline yourself to delay gratification in the short term in order to enjoy greater rewards in the long term is the indispensable prerequisite for success.”

― Brian Tracy

6. Don’t focus on the when and the how much

I often get the question of how much you can make and how big your trading account needs to be to live off your trading profits. When I then counter with the question how much those people are currently making, it becomes obvious very fast that they are focusing on the wrong things at the right time and they are not even profitable yet.

Don’t try to run before you can walk!

Especially at the beginning of your trading journey, you should not worry about how big your annual return can be and how much capital you need to save to quit your day job and travel the world.

Focusing on those things will get you off track and keep you from making progress – it can also demotivate you when you see how much work is ahead of you and how far away you are from reaching your goals.

Instead, focus on your current problems and struggles. Then you can start making baby steps and slowly (but surely!) become a better trader without all the distractions.

Tip 7: Focus on the immediate task ahead and work on your current problems. Small improvements over time add up.

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7. The dangers of demo trading

There is a place for demo trading, but most people stay on demo too long.

What I have seen in my own trading and from the traders that I helped is that demo trading often lets people adopt negative behavioral patterns that are then very hard to unlearn. When your actions don’t have any real consequences, you are more likely to repeat mistakes and engage in the bad trading behavior. I typically suggest staying on demo for the first 6 – 12 months (max!) until you have a good understanding of the nuts and bolts and then take make the next step towards live trading.

When there are no consequences of your bad behavior, you won’t learn any lessons and, in the worst case, you won’t be able to unlearn your negative patterns later in your live trading.

Tip 9: The pecking order is: Demo > small live account > decent live account > an account where your winners are impactful

And make sure that you learn your lessons from the first trading account(s) you lose!

8. 4 tips for growing a (small) trading account

If you are like most traders, you probably don’t have the capital to start with a trading account that allows you to generate a decent income right away and that’s totally fine. But you have to make sure that you follow the right path.

Here are our top 4 tips that will help you grow your account and enjoy the process:

#1 Patience and expectations

Let’s start with the most important point: having unrealistic expectations very quickly lead to frustration when those expectations aren’t met. Always keep in mind that what you are doing is creating a new life and a new career for you. You have to get away from the get rich quick mentality and accept that this is a long-term play.

Traders want “to trade for a living” but then act like they need to retire next month. Stay patient, learn the basics, manage risk & enjoy.

Tip 10: Adopt realistic expectations and avoid monetary goals.

#2 Recognize your true edge as a part-time trader

This is often your greatest advantage over full-time traders. When trading is not your only source of income, you can eliminate a lot of the pressure that often causes traders to make mistakes. Also, when you are not glued to your screen all day long, you are less likely to make bad trading decisions just because you are bored or haven’t taken a trade in a while. Maybe you don’t even have to become a profitable trader and just trade a few hours every day and grow your savings or up your lifestyle?

Tip 11: Understand your motives and become self-aware about how you perform best while achieving your life goals.

#3 Honesty with yourself

The cold, harsh truth is that, in the end, no one cares if you make it as a trader. That’s why it so important to be honest with yourself and with your current situation. Analyze your approach to trading realistically, your level of professionalism and whether you are serious enough about it. The failure rate in trading is somewhere around 99%, but it’s not necessarily that high because trading is so damn hard, but because most don’t give it their full attention and just see it as a quick way out.

Tip 12: Are you serious enough about trading? Be honest with yourself and evaluate your current approach to trading.

Below is a message from David who is one of our pro members. After joining our course, he is optimistic again about reaching his goals and becoming a full-time trader.

Disclaimer: The experience reports and comments shown constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits nor will it do so.

How to Get Better at Trading in 4 Steps?

Trading is a desirable pursuit. However, few may become professional traders capable of turning a stable payout. In order to get better at trading, you will need to study and practice a lot. Knowing what to learn and how to sharpen your newly acquired skills is as important as your persistence and diligence. Today’s article is a step by step guide that will help you improve your skills .

Learning the basics

As with any activity, whether profit-oriented or not, you would want to start with the basics. Seems logical, yet a lot of novice traders skip this step only to find their account devastated and their chances of becoming a successful trader close to zero. Don’t let the pride blind you and don’t be afraid of learning the easy things before you move on to the advanced stuff .

Your success, as a trader, will quite often depend on the understanding of the very basic economic (sometimes political, social and psychological) concepts. In the very beginning try to understand how the price of the asset moves, what are the most commonly used trading terms, what it means to trade an asset. All the information that falls into this category is the most objective and needs to be memorized. Limited practice may be required to better grasp these concepts.

Digging deeper

You’d probably not be surprised to know there is even more to learn once you are finished with the basics. On this stage you would want to learn more about the various markets that exist (hint: there are a lot of them, all with different conditions and trading styles) and the ways they operate. It is also when you choose your preferred asset class. When working with IQ Option, you can choose between CFDs on Forex, stocks, cryptocurrencies, commodities and FX Options.

After finishing this step, you should have a complete picture of the present-day global financial system, be able to understand and use the terminology and grasp the difference between assets. Remember the saying: don’t trade what you don’t understand. Can you, for example, explain what is the connection between the exchange rate and the interest rate? If not, you probably still need to learn the basics before moving further.

Trading techniques

Now, when you know what to trade, it is time to learn how to trade. Easier said than done. Working strategies are never published for free (who would reveal their source of income?). Chances are, you will need to come with a working strategy of your own. Trial and error works here perfectly. Luckily, you’ve got a free and replenishable demo account to test all the strategies you want . Give one of them a try and if it is not working as intended, move on to something else. You can also find a professional trader, willing to become your mentor. Books and articles, written by them, will work, too. Don’t be frustrated too easily, it may take months to come up with a good trading system.

Practical experience

Now, to the most important part. You may learn all the information available on the topic of trading and never become a professional trader. At least, unless you get your portion of first-hand experience. It is impossible to win every trade. However, it is possible to master tour discipline, getting rid of emotions and sticking to the trading system you’ve come up with.

Surprisingly, a lot of traders give up at this stage, when they are closer to success than ever. Don’t be afraid of losing deals, better concentrate on how you handle them. At this stage, you want to learn from your experience, understand the difference between winning and losing deals, adjust your strategy and, if it stops working, come up with new ones .

NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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High probability trading : take the steps to become a successful trader

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Before you make a lot of mistakes and loss all your money, read this book.
There are some very simple rules such as:

1. Never chase the price.
2. It’s better to miss a good trade than to get into a bad one
3. Exit a trade quickly if it isn’t working out. (love this rule)

and lots more things that will help you. Good luck!

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This is one of my top 3 books that I’ve read that I can honestly say has given me a real edge in the market and has made me a better trader. From his honest statements on your ability to have an edge with a small trading account to his description of why indicators work, to his clear guidance on how to read charts and use trendlines an indicators, this is a *must have* for anybody who’s serious about trading. If this is not your first book on trading, a lot of it will be familiar to you but you will *still* learn something. If it is your first book, GREAT place to start.

Do you currently use multi-timeframe analysis? If not, you NEED to. Are you using any type of trend following system? This book is for you. Have a successful breakout system? READ this!

My only issue with it was some of the indicators and chart analysis tools are glanced over with no guidance on how to use them or even the author’s feelings on those indicators. For example, he mentions in passing using Fibonacci retracements, and while there are entire books on the subject, he mentions nothing specific about its usage (or his usage, or lack thereof).

Also would’ve liked to have more on using different indicators on different timeframes, whereas the author just says that different people like different indicators. So the vagueness is a little weird, but overall excellent book which has definitely made a very quick and noticeable difference in my trading.

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This is one of those more honest books than many trading books out in the mainstream considering the price. I agree that most seasoned traders won’t necessarily find anything new in this book. When I first read it after reading couple of stock-picking books, it helped me quite a bit. It does shed quite a bit of light if you have been reading only stock-picking books which I don’t find that useful anyways.

In the author’s opinion, you need at least $50,000 in tuition and at least several years of intense trading experience to succeed. I don’t necessarily agree with him on this point, because $50,000 is quite a bit of money and trading is an extremely stressful job. After all, it is all about gambling.

When you get into trading business, skills of trading matters more then stock picking based on fundamental analysis or recommendations. And don’t necessarily rely on technical analysis all the time, because it is not supposed to work 100% of the time.

Some of the most important rules and advice include

Think in terms of risk/return rather than return only.
Don’t rush in or rush out. Buy and sell a little at a time.
Do not buy into rumors or news.
Avoid the spike and sharp sell-offs.
Do not deal with fundamentally troubled entities.
check out variety of asset classes. don’t just limit yourself into stocks, but also check out etf’s, bonds, commodities, precious metals, etc.
This is my opinion, but I personally try to avoid derivative markets (CDS, leveraged etf’s, options, futures, etc) since they are way too volatile and you take on much more risk.
Avoid mainstream financial news coverages. Try independent blogs such as
Max Keiser or Daily Reckoning.

You also need to know the nature of the Federal Reserve and our monetary system. Read the following books too

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In the poker movie “Rounders,” legendary old timer Joey Knish tries to save the hero, Mike McDermott, from the mother of all bad beats. Of course McDermott has to learn the hard way, as most all poker players (and traders) do. Marcel Link reminds me of Knish: a guy who’s been around the block and pretty much seen it all. A grinder, trading to make a living. not going for the glory, just going for consistency. Bringing it home, month after month, and putting food on the table.

This book is the next best thing to having a brother, cousin or close friend in the business. Link is someone who knows the angles, has taken the bad beats, and can tell you the tricks of the trade and the mistakes to watch out for.

Right off the bat, wannabe traders are hit with hard facts: “In my opinion, to be realistic and have a fighting chance to succeed one should have a minimum of $25,000 to $50,000, a 3-year horizon, and a very understanding spouse.” In the intro, Link also explains how his own personal ‘tuition’ period lasted seven years. These are tough numbers for a tough game, and I respect Link for not pulling any punches. Many books on trading, if not most, tend to gloss over harsh realities in order to keep the dabblers and daydreamers interested. Not this one.

This book will not make you a great trader, but that’s not the point. It’s more like a thorough recap of the fundamentals–the basic movements and processes that make up a trader’s mindset. I wish I had a book like this when I was starting out. The road wouldn’t have been any easier, but some of the key lessons might have ‘sunk in’ faster.

If you are experienced in the markets, or even just competent, you won’t find much of anything new here. It’s pretty much all meat-and-potatoes type stuff. You might find it refreshing, though, to have such a comprehensive reference of the ‘basics’ packed into one volume.

One caveat is that most of Link’s examples are geared towards short-term trading, i.e. intraday, and are intentionally kept simple. So if you are a swing trader, more comfortable with longer timeframes, or looking for fancy moves, you might feel the book isn’t geared to you as much. The basics are still the basics though, regardless of your time frame: core concepts like volatility, risk management, position sizing, reaction to news, and so on.

To become great, or even just good, you’ll need to go well beyond the scope of “High Probability Trading.” But before you can be either of those, you have to lay a rock solid foundation. Link just might be the guy to help you do it.

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