DJ's Trading Strategies | Summary and Q&A

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March 23, 2017
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Elearnmarkets by StockEdge
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DJ's Trading Strategies

TL;DR

Successful traders emphasize simplicity, using few indicators and following strategies that fit their psyche. Humility and approachability are common traits among successful traders.

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Questions & Answers

Q: What kind of time frames and indicators does the speaker use for trading?

The speaker uses simple time frames and only two indicators, adx RSI or stochastics, to keep trading uncomplicated and manageable for his psyche.

Q: How does the speaker handle complexity in trading systems?

The speaker acknowledges that he can't handle complexity and has tried numerous systems that were highly rated but didn't work for him. He emphasizes the importance of understanding weaknesses and finding a system that suits one's own psyche.

Q: Why does the speaker believe it is important to invite successful but humble traders to speak at conferences?

The speaker believes that successful traders who are humble and approachable are more likely to share valuable insights and ideas with the audience. He mentions an example of a veteran trader requesting additional time to discuss something he observed on the market, showcasing humility despite his experience.

Q: How is mindset crucial in trading according to the speaker?

The speaker states that mindset is key in trading and emphasizes keeping it simple and finding what works for each individual trader. He believes that humility and acceptance of the market's power can lead to a better understanding and peace with oneself.

Summary & Key Takeaways

  • The speaker advocates for simplicity in trading, using only two indicators (adx RSI or stochastics) and focusing on strengths and weaknesses.

  • Successful traders are approachable and humble, as shown by an example of a veteran trader asking for more time at a conference.

  • The importance of mindset and finding a strategy that works for each individual trader is highlighted.

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