242: Most Trading Guru’s NEVER Teach You This 1 Important Thing… w/ Cameron Benson
Aug 30, 2023
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Explore trading guru's important teachings with Cameron Benson, discover effective trading strategies, risk to reward ratios, emotional discipline, position management, personalizing strategies, and learning from trading setbacks.
Structure in trading is vital for control and clear decision-making.
Time-specific market behaviors can provide strategic advantages for traders.
Developing chart storytelling skills aids in trade setup identification and execution.
Deep dives
Key Point 1: Importance of Structured Trading Approach
Structure in trading is crucial, allowing control and clear decision-making. Understanding levels, swings, and market behavior ensures a methodical and disciplined approach to trading.
Key Point 2: Timing and Clock Awareness
Being mindful of time-specific market behaviors at session opens, closes, and key hourly intervals provides strategic advantages. Recognizing patterns during specific times enhances decision-making.
Key Point 3: Charting and Storytelling on Charts
Developing the skill of chart storytelling aids in identifying trade setups and executing trades effectively. Communicating with oneself through chart analysis helps maintain focus and clarity of trading decisions.
Key Point 4: Learning from Mistakes and Not Revenge Trading
Acknowledging and learning from trade errors is vital. Avoiding impulsive revenge trading after losses by taking breaks and maintaining discipline ensures consistent and rational trading.
Key Point 5: Continuous Learning and Humility in Trading
Emphasizing the need for continuous learning and humility in trading to adapt to market dynamics and refine trading strategies. Remaining open to new insights and maintaining humility fosters growth and success in trading.
Key Point 6: Recommended Trading Literature and Resources for Education
Suggested reading materials such as books by authors like Edwards, McGee, Shawbacher for comprehensive technical analysis education, foundational knowledge, and strategy development.