Weekly Perspectives: 10 lessons I learned whilst trading the financial markets that can apply to everyday life

Weekly Market Outlook For September 23 – 27, 2019
September 22, 2019
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Weekly Perspectives:  10 lessons I learned whilst trading the financial markets that can apply to everyday life

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See you on Wednesday – 

Just a few days remain before this month’s Meetup which is going down on Wednesday, September 25 from 7-10PM at the Sauvage Bar A Vin.

Terrence Li will be sharing his perspectives on why the majority of traders lose money and how to turn the tide and be in the top 10%.

There are still spots remaining so visit the event page to RSVP now and see the presentation abstract.

Look forward to seeing you at this month’s Meetup!

RSVP NOW to confirm a seat.

PS – Don’t forget the Meetup is free for first-time attendees 

 

10 lessons I learned whilst trading the financial markets that can apply to everyday life – 

One of the reasons I enjoy running the Montreal Traders Meetup is because I truly believe that every trader has a unique story and that regardless of experience there are lessons we can learn from each and every trader.

This week I’m sharing an article from long-time Meetup member and someone I consider a friend – Lev Jampolsky.  

Lev’s been trading the financial markets for the past 8 years and started at the ripe old age of 18.

Lev is still on the journey to becoming a consistently profitable trader and in this article, he shares in his unique and humorous way 10 life lessons that trading has taught him along that journey.

Here are the 10 lessons – 

  1. We have zero control over external events
  2. Reactions are momentary. Trends persist.
  3. It’s not about you
  4. Be as objective as possible
  5. Take calculated risks and reduce the amount of irrational risk
  6. Progress needs to be measured in very small steps
  7. Most of us are not ready for lots of money at once
  8. Find a mentor
  9. It seems like there are universal laws that need to be respected
  10. Trust

Check out the full article here.

Lev’s observations are a potent reminder that how we do anything is how we do everything.  

My belief has always been that trading is life, and that life is trading.

When we first get involved with trading, trading is an activity.  

However, stick with it long enough and trading isn’t something you just do – a trader is someone you have become.

In the end, the way we become better traders is by becoming better human beings.

 

Let’s end the month and quarter strong – 

Both the TSX and SPY found new all-time highs this week but the volatile news flow gave the sellers the edge into the close of the week.

The news flow really punctuated this past trading week as the spike in oil and geo-political risk kicked off the week, then by mid-week all eyes were on the Fed and FOMC announcement, followed by more trade talk news out of China and quadruple witching to end the trading week.

All in all the markets held in surprisingly well with 3 out of the 4 major indices logging inside weeks.

This coming week marks the final full trading week of the month and Q3, watch this week’s Weekly Outlook video to see the levels we’ll be watching.

In this week’s video, we look at the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD BTCUSD TOTAL EEM FB TLRY LULU MA XLV JNJ NKTR SNAP and more for the week of Weekly Market Outlook For September 23 – 27, 2019. 

Happy trading,

Houston

PS – Feel free to share this newsletter and our videos so we can reach more traders!

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Weekly Perspectives: 10 lessons I learned whilst trading the financial markets that can apply to everyday life

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