Market Blues 19/07/2021, Power of Repetition
Hello and welcome to Market Blues. It’s Thiru Nagappan here founder of Master Markets, Elite Trader’s Conference, and Trader’s Open Day.
The purpose of the market blues series is to keep you off the Monday blues hence the name, market blues it is to keep you at the peak performance level at the start of the week for trades ahead.
So today’s topic traders, on the market blues is going to be on the power of repetition. So let’s take a look at this.
First of all, what would we say repetition is? in terms of trading, repetition is, basically continuously repeating a certain trading system again and again so that the numbers will count in the long run.
Now, in terms of that, that would relate to consistently create executions for consistent execution trading in the Trading World. However, as we have mentioned in our previous videos and conferences, and seminars around the world to achieve consistent execution traders, you first need clarity. You need clarity on the trade setups that you’re going to take, and also your entry parameters, You must be able to, pattern recognition for your entry parameters to kick in. And then you’re able to then consistently execute without clarity on the quantified parameters, there will be subjectivity, if there’s subjectivity and discretion, there’ll be doubt and fear, and you won’t be able to consistently execute.
So, on the contrary, if you consistently execute clarity quantify parameters and subjectivity are almost remove almost 99% of it is very clear, it’s like how you’re going on an exercise routine fitness instructor gives you really clear guidelines. You know every single day you have to exercise for 30 minutes. You can either be in the morning or evening and at least you got to run at least 10 kilometers at least twice in a week see all these are very clear quantified parameters, against which you can see how the results you have performed in your fitness routine so the same thing over here.
That’s why we always need clarity whenever we’re repeating something. The second thing is you may ask is, why is repetition, important to you for some when you reflect on it, it’s actually quite obvious. It’s because, so that we can know for some of you who may have trouble understanding some terminology in terms of trading, you can always feel free to look at our video courses and here are the two video courses that we usually recommend, what is the agenda for the beginner/intermediate video series system traders start five-day video course with getting all set. inbox over here. So a great amount of content and quality over here that would definitely serve traders and would also be a little bit more advanced, I’ve been training for quite some time, Trade like a Master is a really good video series video course as well. you can just put your details.
The power of repetition, in terms of repetition, needs to be the subject of why and resist so that you get over to a habitual routine whenever you repeat something traders, it becomes a habit. And once it becomes a habit it gets fed on to your subconscious mind, which can feed into unconscious competence. Just like how you learn to drive the beginning of the subconscious on how you’re driving and everything. And after a while you’re driven so many times, unconsciously can be talking to your partner and all that but you still know how to do your clutch, you know how to change gears and it becomes unconscious you become competent. Another thing that is also similar will be given our Traders Basecamp workshop remember when we’re babies, we always know, subconsciously, walking, making sure it’s stable for them. But now to live. Don’t even think about it unconsciously competent. Right, So that’s why it’s important, so repetition to happen so that we come to unconscious competence in trading so that we know unconsciously, we become good in taking our trades and executing them for the term.
The third thing of the importance of the power repetition is how would you do, how do you repeat something consistently so that becomes a habit and you are consciously competent and as most of you know, that is all well said and easy in terms of theory, but you know sometimes we don’t have the discipline to keep up with the momentum doesn’t become a habit, our old habits taking place, you know, as Bob Proctor usually calls it old habits, or your old paradigm and they come into effect and power.
So how do you replace the old habits and new habits that serve you that bring you forward, and also succeed in this particular scenario of the trading journey? So how is one thing that I mentioned before is accountability?
Accountability is very, very powerful. And you know when you’re accountable to someone to a professional group of people immediately discipline is enforced on to you, even on choice. It’s like some everyday examples, you want to catch a flight, you’re comfortable for the pilot if you don’t get down on time the flight leaves without you right? It doesn’t matter suit because of the accountability, you’re forced to be in discipline, come on. Don’t hit the snooze button, especially in the day-to-day want to travel the holiday. And that’s how it enforces discipline the same thing with trading coaching, with mentoring in sports in professional sports athletes and performing at a high level, you need accountability so you enforce discipline so that you are on track and that habit becomes subconsciously ingrained in you and you can do unconscious competence.
After a while once has been engraved to you then you move from accountability to being independent, the best model that has been done on this is the driving model isn’t, in the beginning, you learn the theory then you get into the car with professional and after that, you come out, and you’re independent to try and pursue your driving license.
So likewise, this is how we deal with all our programs in Master the Markets, and especially to all our traders base camp package programs. If you’re enjoying this material, go ahead and smash that like button so that we can carry on further in our mission to spread the truth of trading, much more further like-minded traders can be accountable group together, to spread the truth, right.
So that’s today’s topic on the power of repetition, please reflect on the integrated use of it normally in trading, but in your everyday life. Now we’ll move on to look at the market. We can see that on Dollar Swiss right now to the uptrend. You can see that the momentum is actually diminishing towards the top to the bottom so I see a higher probability this could be a turning point, and the first level to take primary and secondary high before the close, and if it does pull towards the low momentum to the downside. only traders as you can see up here. It’s got more downside now to open equities diminishing to the downside, we would be taking a short on this because of the title on our stops.
On the other hand, GBP USD has gone much further down we took short session money out of that as well. In terms of open equity, so more to the downside I would say even dollar again, I would say more open equity than downside momentum, so maybe tighter stops will be necessary. Aussie dollar on the other hand more further than the downside as we can see but open equity diminishing on the downside, GBP Yen on the other hand as you can see a top to bottom move here at the TSL Primary, open equity is diminishing. Bitcoin on the other hand still hovering around the 30,000 marks, with open equity diminishing returns on the turning point coming.
Brent oil on the other hand a bit of selling over here.
Gold, on the other hand, is still hovering around the 1800 mark downtrend at the moment, I would say more open equity downside if this confirms.
On the other hand Footsie, yes we have a bit of a sell-off over here. And the downtrend indicates the open equity diminishing.
Dow Jones is all very big sell-off today,23,000 we can see 7380. points for a big massive sell-off to the SMP very similar as well, and downside. Silver on the other hand distribution are quite big, because more than one quickfire to trading stock returns well, on the other hand, open equity diminishing expected losses.
Alright, I guess that’s pretty much us in terms of the Market Blues topic.
That’s all from me for now and as I said, just remember to hit the like button and subscribe to our YouTube channel so the algo kicks in and you can spread the truth of trading further out.
As we always say to next time stay discipline, follow your Trading Plan and keep Trading like a master.