"The most important investment you can make is in yourself." — Warren Buffett
It's another weekend — and after the week we had in markets, you deserve a breather. But don't forget that you can beat out the competition if you make improvements while everyone else is off.
Included in this week's curriculum: data on TopstepTrader's profitable and unprofitable traders (and what that says about how you can win); an interview with a 30-year trading legend on properly sizing positions so you don't get killed in volatility; and reminders from NinjaTrader's blog about how to trade during highly volatile times.
So here are three resources that will help your trading improve by Monday... all in less than an hour!
1. Compare Your Trading Against TopstepTrader's Profitable and Unprofitable Traders
We dug into the data this week from the traders that earned a Funded Account® in 2017 to see what separated the profitable traders from the unprofitable traders. Then, we published our findings in a blog post. The post gives you insight into the average winning day that profitable traders have compared with unprofitable ones, comparing that to the average losing day, and then largest winning and largest losing days.
Now it's time for you to read and digest it. And then incorporate it into your trading plan for Monday. Your trading will improve if you do. You'll be able to go through this one in a few minutes, though you'll want to spend some extra time thinking about what the data says about your trading.
2. The Proper Way to Size Positions with Nasdaq Trader Brian Lund
When markets are volatile, position sizing is increasingly important. You can easily miss a move, only to chase it lower and then find yourself getting stopped out very quickly. And not having the right position size in place, you may find yourself without a trading account very quickly.
That's why we're recommending this episode of Limit Up with Nasdaq futures trader Brian Lund. Brian talks about how he goes about sizing his positions in futures and stocks and why that was a lesson that he learned the hard way. Take what he has to say seriously — you don't get to become a 30-year trading veteran out of luck. Run-time is 40 minutes.
3. Five Tips for Day Trading During Volatile Markets
The NinjaTrader blog has a great article from early February that's worth a read. It goes over 5 tips for day trading volatile markets. Among NinjaTrader's advice: think about the order type you place and whether it will execute if the prices jump your stop and consider adding trailing stop orders to the mix.
It'll take you less than five minutes to read, but is worth the refresher ahead Monday's trading.
Any feedback or requests? Leave a message in the comments!