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General Forex

What Losing Traders Do by Vince Stanzione Multi Millionaire Trader Gives You Some Priceless

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What Losing Traders Do by Vince Stanzione – I have been trading futures, options and equities for around 23 years. As well as trading my own money I have traded money for banks and I have been a broker for private clients. Over the years I have been fascinated to discover the difference between winners and losers in this business.

Try to learn from the points I am about to give you: 1. Many traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they over trade and use their equity to the limit (are undercapitalised), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones; 2. Many traders don’t realise the news they hear and read has, in many cases, already been discounted by the market. Often, new traders jump into a market based on a story in the morning paper; the market many times has already discounted the information; 3. After several profitable trades, many speculators become wild and un-conservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail; 4. Traders often try to carry too big a position with too little capital, and trade too frequently for the size of the account; 5. They fail to predefine risk, add to a losing position, and fail to use stops; 6. They frequently have a directional bias; for example, always wanting to be long. A good trader should be happy to trade up or down; 7. Lack of experience in the market causes many traders to become emotionally and/or financially committed to one trade, and unwilling or unable to take a loss. They may be unable to admit they have made a mistake; 8. They over trade. Many new traders after opening a Financial Spread betting account are like a child with a new toy. They want to trade anything and everything. The new internet dealing offered by most bookmakers has made it even worse; 9. Many traders can’t (or don’t) take the small losses. They often stick with a losing trade until it really hurts, then take the loss. This is an undisciplined approach…a trader needs to develop and stick with a system. If you are following charts and a trendline or moving average is broken, you must stick to your rules. “All through time, people have basically acted and re-acted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why formations and patterns re-occur on a constant basis.” Jesse Livermore and; 10. Many traders break a cardinal rule: “Cut losses short. Let profits run.” Emotion makes many traders hold a losing trade too long. Many traders don’t discipline themselves to take small losses and big gains.

Vince Stanzione – Forex – Finbets. The above points have been taking from Making Money From Financial Spread Trading 2009 Edition by Vince Stanzione.

Vince Stanzione is a self made multi-millionaire based in Europe. Started at a junior at the age of 16 for Nat West Foreign Exchange in London he worked his way up in before leaving to start up his company. He has been involved in various companies including mobile communications, premium rate telephony, Interactive gaming, publishing and television and financial trading. He now lives most of the year between Spain and Monaco and trades his own funds mainly in currencies and commodities. As well as trading he also teaches a small number of students and produced the best selling course on Financial Spread Betting.

General Forex

Vince Stanzionethe Secrets to Making 1000s Working 4 Hours a Week 8020 Lifestyle

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The secrets to making £1,000’s working 4 hours a week from anywhere in the world by Trading Financial Markets How You Can Live The 80/20 Lifestyle. Many ask how I make so much money “working” less than 4 hours a week when many work 60 hours plus and can’t make 5% of that, today I will explain to you how and moreimportantly how you can do the same. Vince Stanzione, Stanzione Forex, Finbets. You may have heard of the 80-20 rule, to recap it came from an Italian economist Vilfredo Pareto, who observed that 80% of the land in Italy was owned by 20% of the population, he also noted 80 percent of his peas were produced by 20 percent of the peapods. In short 80% of the results come from 20% of the efforts. It really doesn’t matter what numbers you apply, the important thing to understand is that in your life there are certain activities you do (your 20 percent) that account for the majority (your 80 percent) of your happiness and outputs.

Vince Stanzione: The secrets to making £1,000’s working 4 hours a week – 80/20 Lifestyle: If you want to be a profitable trader forget about learning 100% and spending 14 hours a day glued to a screen, just learn the important 20% and you will beat 80% of all the professional fund managers and that’s the principle that I use to teach in my Global Financial Trading Program and use in my own trading. The tools I use allow me to scan 20,000+ shares, currencies, bonds, indices, commodities and within less than 1 minute see only the ones that give me the best opportunities of success. I don’t read newspapers, company reports, watch rubbish on CNBC or surf chat rooms for tips. Let’s face it 80%+ do not make money trading but those 80% don’t make money in anything else either… but the 20% that do make money, make a lot. Vince Stanzione, Stanzione Forex, Finbets: The reason why those following my system do far better is because they are following a franchise with tools and support rather than trying to do it all themselves and start from scratch. Trading is one of the few businesses left where you can start with such a low investment and avoid all the hassles of a regular business but you need the training. Anyway it’s your choice be in the 80% hitting a brick wall trying to figure it out what works or join the 20% that are already cashing in and achieving a far better lifestyle.

Vince Stanzione is a self made multi-millionaire based in Europe. Started at a junior at the age of 16 for Nat West Foreign Exchange in London he worked his way up in before leaving to start up his company. He has been involved in various companies including mobile communications, premium rate telephony, Interactive gaming, publishing and television and financial trading. He now lives most of the year between Spain and Monaco and trades his own funds mainly in currencies and commodities. As well as trading he also teaches a small number of students and produced the best selling course on Financial Spread Betting.