What’s crazy is that the owner of the ForexSimulator back testing software I use for my livestreamed challenges is also an amazing trader.
Justin Mueller, is a Forex come Silver, Gold and Bitcoin trader from Florida who’s been able to fund other businesses through his expertise at the charts.
But his journey wasn’t as straight forward as you may think.
It started with him blowing a $1000 account and turned worse from there. Until he found his method, that is. A method that allows him to flip accounts at will.
We get into the details of his recent $30k-$100k flip in the show. Get listening!
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[07:26] Everybody thinks in the beginning that they are a bad trader, you are not a bad trader, you’re just bad at risk management.
[07:56] If you don’t know how to control your risk, emotions, and patience, it doesn’t matter if you have a 100% success rate strategy, you are going to lose all of your money.
[10:35] You’re going to become successful in trading not by watching a few YouTube videos… The whole thing is going to take time.
[10:49] The more time you put into this industry eventually you will understand how it works.
[10:56] Time is your #1 asset in trading.
[12:39] Whenever you feel like doing something out of the emotion, that’s how you know something bad is about to happen.
[14:59] You don’t need a high win rate. You need to control your risk, emotions, your patience, your strategy comes second.
[18:09] You have to follow your rules and you have to be patient.
[19:58] Always withdraw your profits even if it’s half.
[20:01] You need to get into that profitable set of mind and it starts with withdrawing your profits.
[25:27] Focus on one trade at a time.
[30:43] For the average person that isn’t already a consistently profitable day trader that can live off of their trading, don’t trade Bitcoin. Just invest in it.
[36:09] Keep things as simple as possible.
[49:25] You have to focus on yourself in this industry.
[50:29] If you’re working a day job and you want to become successful in trading, you have to avoid all of the hype on social media.
[51:47] The chart is a living, breathing entity in the form of candlesticks.