Mobile Home Park Owner
Let’s face it, there are thousands of opportunities to trade around the world every day. And the ability of today’s technology to bring mathematical models and indicators of ever-increasing complexity to every trading screen, combined with 24-hour news impacting the markets, can create an almost irresistible temptation for many stock traders.
With the growth of the internet, there’s no limit to potentially relevant information from online and social media sources any savvy trader can access with the click of a button.
For many people, this nonstop stream of information increases the tendency to constantly analyze, test, and tweak trading strategies.
There’s nothing wrong with optimization if that’s what you really enjoy. And for people with the right mindset, trading can become a rewarding career, as well as an all-encompassing way of life.
However, allowing yourself to become totally consumed by stock trading is not for everyone, as Eswin de Paz realized early on.
Online entrepreneur, Eswin de Paz, has been interested in trading as a side business for some time but he struggled to find the time he needed to achieve the level of skill and results he had hoped for. Since discovering RagingBull ELITE, however, Eswin has adopted a new, minimalist style of trading which perfectly suits his circumstances.
Boca Raton, Florida
Taking a comprehensive approach to trading while dealing with the daily demands of running a business, or trying to mimic the approach of a full-time trader when you have just a few hours available, is not only challenging but can be bad for your financial and physical well being.
Not surprisingly, Eswin quickly became discouraged with his inconsistent results, even as he realized that he had neither the time nor the desire to spend endless hours at his trading screen.
Like most entrepreneurs, however, Eswin is highly-tenacious and decided to see if RagingBull’s ELITE could offer him a better way to achieve his financial goals.
What he found was akin to a revelation. Impressed by the consistency of the results Jason Bond, Jeff Bishop and their team of traders were getting, Eswin decided to give the RagingBull ELITE program a try.
“I followed Jason Bond and was impressed by his results, I could see consistency, and it was that got me interested in other services.”
Although Eswin has already learned some important lessons which have made him rethink his approach, he highlights one in particular: “I have to remember the lesson from Nathan in Orlando,” says Eswin, “when asked to see charts, his response was mostly, I DON’T SEE A SETUP HERE. Then, he went to other time frames, or showed other examples where a setup was clearer. Seeing is believing, and that’s what I got.”
Eswin continued, “I started trading again on March 7th, after attending a live RagingBull event in Orlando. Since then, I have reached more than $25,000 in a month.”
It was at that moment, Eswin realized that he had inadvertently stumbled upon the concept of minimalist trading. In everyday life, minimalism may require a person to get rid of a lot of less important possessions in favor of a few essential possessions. This process of elimination often results in a simpler, more rewarding life experience.
A minimalist approach to trading means pursuing only the best set-ups, those which have met a predefined set of criteria. It also may require cultivating the idea that it is better not to trade than to take trades which don’t meet your criteria.
Successful trading involves assessing large amounts of potentially contradictory data, in real-time, under the emotional stress of sometimes committing large sums of money to your decision. So anything that can be done to make your decision-making process less stressful can be beneficial.
Unfortunately, traders often run into trouble because they allow their charts to become overly complex. They add indicator after indicator to the original price/time chart until they’re looking at a confusing kaleidoscope of lines, shapes and colors from which, little if any, meaningful information can be deciphered.
“I attended a live RagingBull event and got to know Jeff, Nathan, and Taylor. I came back to rethink my trading and put into practice what I’ve learned from their experiences.”
As confused as they may become, less experienced traders are often reluctant to eliminate any element of their charts. They worry that they may be throwing away the one vital piece of the puzzle, or the one on which the latest guru is supposed to rely for their spectacular success.
In reality, many of these indicators and charting tools are just complex ways of saying the same thing. To rebuild a winning mindset, it’s often necessary to strip down to the bare minimum, keeping only the indicators that are absolutely essential to applying the trading strategies which have been decided on.
As drastic as it may seem, this action alone will frequently be enough to reveal some promising set-ups which you might previously have missed. If it doesn’t, there’s no need to panic.
One of the most common errors made by new traders is trying to make situations fit the setups they’re looking for and entering trades which don’t meet their trading plan criteria.
If Nathan’s words: “I DON’T SEE A SETUP HERE” were printed out and taped to every trading screen in the country, the rate of losses would probably be drastically reduced.
That’s why new traders should certainly take those five words to heart, as Eswin has undoubtedly done.
He started trading again immediately after the RagingBull meeting in Orlando, and immediately enjoyed some great winning trades with this new approach.
“I spend less time looking for “opportunities” and chasing lots of news and stocks” is how Eswin explains his success. “Now, I just patiently wait for a setup, and wait for the result. I can use the little time I have to trade to do other things and get better results with less stress and frustration.”
“Seeing is believing. I started trading again on March 7th, after attending a live RagingBull event in Orlando. Since then, I have reached more than $25,000 in a month.”
Many successful businessmen see financial rewards not as something to be striven for in themselves, but as an inevitable result of providing value to their customers. This is why Eswin believes that cultivating an emotional detachment from the monetary rewards of trading, while focusing instead on the mechanics of the process is the best way to achieve his goals.
“Trade setups, don’t get excited,” he says, “Focus on the process, not the results. The results will show. Taylor Conway said it best, “Small gains will amount to big profits at the end of the month, and at the end of the year.”
With this in mind, Eswin is wary of setting specific financial targets. Instead, he thinks in terms of the consistent income which disciplined, business-like, traders can count on.
“See money as a by-product of being good at what you do.” This is the simple philosophy Eswin follows. Whether you adopt this minimalist mindset or not, focusing on the process of becoming a better and better trader will pay you substantial dividends now, and in the years to come.
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Mobile Home Park Owner