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Posted on Jul 22, 2021 at 04:27 PM
Sharing his over 18yrs real-time trading experience our guest speaker, Alistair Crooks, Head of Traders Support Club, UK’s top trading mentor and FCA regulated Fund Manager takes us through a journey to trading profitably with 4 Pillars that you never want to miss! Let's do a recap, shall we?
It was a pretty cool afternoon on July 1st 2021 when InstaForex international played host to ShowFx World Online.
In this session Alistair Crooks laid bare the 4 pillars of Trading and here are the key takeaways in case you missed it:
1.) DISCRETION & STRATEGY: This includes your Technical Analysis, strategy criteria & how you deploy it.
He shared key knowledge on the 3 Strategy Criteria for any strategy you use:
2.) TECHNICAL ANALYSIS & DATA DEPLOYMENT; this refers to your habit of documenting, reviewing & optimizing data from previous or back-tested trades.
A lot of traders are guilty here of not knowing what to record and when. Most Traders don’t track their trades or if they do, they focus on the wrong things.
3.) RISK MANAGEMENT: This is much more than using a Stop-Loss or Limit Orders, this makes sure that you use statistics to calculate Risk-to-Reward or trailing stops. Only move stops if data shows you to, and even if you do lose a trade, “do not trade for revenge!”.
4.) MINDSET: This covers concepts like Recency bias, Personality styles, accountability & feedback. Ali Crooks believes that every trader falls into one of 4 major personality styles as follows:
Here, we see the ups and downsides of each personality style. Ali recommends that we look into which side you’re on specifically & look for data from your previous trades to back it up. Then go on to improve your weaknesses & balance your shortcomings for profitable trading outcomes.
Now let's look at the HAPPY ENDINGS
InstaForex showered attendees with lots of giveaways in the Quiz and Raffle Draw fun sessions varying from $50 to $2000 Bonus respectively, including the ultimate prize of an iPhone SE.
As an extra bonus, Top trader Alistair Crooks also walked us through one of his six core swing trading strategies for Forex and how to optimise it for lower time frame entries + LIVE trade examples! Want a PDF containing Ali's strategy? Leave a comment below to request it.
The TDI alone boasts of an 85% Win-to-Loss Ratio in the first half of 2021 according to top traders who use it day in day out and definitely one of the tools you want to add to your arsenal for the next half!
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