How I Would Setup Trading (If I Could Start Over)
Once upon a time, there was a man with a lot of trading experience.
Every day, he would analyze the financial markets and grow as a trader.
But one day, he goes back to his past to teach beginner him the most useful things he knows now.
Past Self: “Hey, who are you?”
Future Self: “I’m you. Shut up and listen. I only have around 5 mins to teach you what made me profitable.”
“Quick, open your computer, create a new folder, and then rename it as trading.”
Past Self: “How will a folder called trading help me get better?”
Future Self: “Oh yes, it will. I will show you that in a moment. But first, open your web browser and open 4 new tabs. Everything I will tell you to open in these 4 tabs will improve your trading, especially the 4th tab.”
Past Self: “Nice!”
Future Self: ” In the first tab, open tradingView.com and click the bookmark button.”
Past Self: “Done!”
Future Self: “Now open your phone and download the Stocks app created by Apple.”
Past Self: “Done! , Oh, wait this app is not available on my android phone.”
Future Self: “Then download the TradingView App on android.”
Past Self: “Done!”
Future Self: “Go to your computer and open this link. Download the excel sheet mentioned on this page.”
Past Self: “Done!”
Future Self: “Place this excel sheet inside the trading folder you created earlier, and create 2 new folders.”
Past Self: “Done, but how are these 2 folders going to improve my trading?”
Future Self: “I will show you in a moment. Also, if you can’t open the excel sheet on your computer, upload it on google drive to open.”
Past Self: “Nice!”
Future Self: “In the third tab, open a live stream of a news channel such as CNBC or Bloomberg TV. Bookmark that stream page.”
Past Self: “I have to watch the news now?”
Future Self: “Not exactly. Let me finish the setup, I will explain everything.”
Future Self: “When I started trading, I made myself an app to think logically as a trader. The app had my trading rules written in it.
Every time I saw a trading setup, I would open his app and go through a series of questions, like a checklist.
This helped me tremendously. Since not everyone can make an app for themselves, I made it for you.”
Future Self: “Open the 4th tab, open the Trading Rush Website, and under tools, you will find a similar Checklist that helped me as a beginner.
Write your trading and entry rules on the TR’s checklist, and only take the trade if you can check all the checkboxes. This method helped me think logically and avoid emotional trading. Bookmark this page and go back to your phone.”
Past Self: “Done”.
Future Self: “On iPhone, follow these steps and add this widget that has the graph and price.”
On Android, follow similar steps and add the TradingView Widget.
Past Self: “Done!”
Future Self: “Now, I will show you how to use everything we have set up so far in 7 steps.”
“Step 1. As a beginner, every time I used my phone, I would look at the widgets we created. Even if I was walking, eating, or watching, I would know what the market is doing within a few seconds. This automatically helped with getting familiar with the price movement I was trading. Apple’s Stock App is the best for this as it has a graph that shows if the price is trending or moving sideways.
Step 2. Once I’m ready to trade, I would open the 3 bookmarks we created earlier.
Step 3. I would play the news live stream on mute and keep it visible on the screen. I will use this muted news stream to check the latest breaking headlines, important upcoming events, and the prices of assets.
Step 4. I would use the TradingView chart to scan and analyze the setups. It’s simply the best price Chart I have used.
Step 5. I would then use the TR’s Checklist to make sure the setup meets my entry rules and that I’m thinking logically. I will not take the trade if I can’t tick all the needed checkboxes. Simple as that.
Step 6. Once my trade reached a profit loss target, I would take a screenshot of the setup.
I would go to the trading folder we created earlier, open it, then save the won and lost trade’s screenshot in the other two folders respectively.
I would also write down the trade details in the excel sheet we downloaded earlier.
Step 7. Every night before going to sleep, I would analyze the won and lost trades from the trading folder.
Once you have enough data in the trading folder, you will start seeing patterns in your screenshot setups. You will see why the trades in the won folder were won and why the trades in the lost folder were lost.
I would repeat these 7 steps and learn from every trade until my profit graph goes up consistently.
This is how I learned to trade properly from experience. I hope you do too.”
“Past Self: “Thanks!”
Future Self: “And Don’t forget to invest in Crypto. Should have said that sooner.”