Category Archives for "Blog"

The Case AGAINST Taking a Trade

Today my wife and I were discussing a class that was coming up at the local spiritual center that she wanted to go to.

It is all about the power of crystals and geodes.

In the class, the person leading it will be showing others which crystals to use for healing, which crystals to use for meditation, etc.

This led us to a conversation about what transpired about two months ago. 

I'll get to that in a second.

Now, I am not saying I believe in crystals for healing and all that stuff. 

But I do love crystals. 

I don't know why, but I have this urge to learn more and more about them and collect them whenever I see a really good one.

So this brings us to what happened a couple months ago.

There was this “Rock” show here in town, one of the biggest ones actually.

And we spent all day there.

Well, about 7 hours actually.

Yes I know I know….you are probably asking how in the world could we spend 7 hours in a place that people are selling ROCKS? 

Right?

Well, we did.

There was so many to look at. 

All types from Quartz to Opals to geodes.

Geodes are my favorite actually.

While we were there, I was on the hunt for a really fine geode.

I didn't even care what type it was.

I just knew I had to have one.

So I hunted….and waited…..and hunted some more. And waited some more.

Finally, we got all the way down to the end and there was a guy with a TON of different sized geodes.

And when I say a ton, I literally mean a metric ton of geode rocks.

But they were all uncut geodes.

The thing was, you had to pick which one you wanted, and then they would use a pipe cutter that had a chain on it, and they would “crack it” open for you.

So I again waited. 

Listening to the guy talk to others about which he thought were the best type to choose from etc.

In the end I picked one, had it cracked open and was amazed that I had gotten a good one. 

I only paid $40. But it turned out to be one that was worth a couple hundred.

My wife then chose one as well.

I paid only $25 for hers………..And it turned out to be a museum quality geode that would easily be worth $10,000.

That was insane how gorgeous this thing was.

So in 7 hours we went in, spent about $300 on rocks, and walked out with around $15k worth of gorgeous stones.

Now the point of all this if you haven't guessed by now is that you have to wait and wait and wait sometimes for the perfect thing (trade) you are after.

To many traders just want to push buttons and get into trades.

That's utter nonsense. Stop doing stupid things like that.Learn the Wait Trade and wait for the perfect opportunity to get in and out of the market.

There are many weeks I only place 1-2 trades. 

And others I might place ZERO.

And then there is the rare occasions I place more than 5.

But I always wait for the right one to come along. I don't NEED to be in the market.

And you shouldn't either.

If You are a button pusher, you shouldn't be in the market…period.

I have made millions in the markets with just a trade or two per week.

It is not the number of trades you take, but the quality.

If you want to learn more about finding the perfect trade setup and stop wasting time and money trying to figure all this stuff out on your own click the link below.

Here is the link:

https://karmasenge.com/inner-circle/

50 Shades of Karma

Recently, I got the low down on “50 Shades Of Gray”.

My wife said she read it, and how it’s basically about a guy dominating and controlling some chick.

Gotta admit, I was kinda turned on by that.

In a trading kinda way, of course. 😉

Here’s what I mean:

It reminded me of what having a really good plan of attack is like when it comes to the market.

If you:

– Have great trading education (where you have ALL the pieces of the puzzle),

– A good plan that has been tested

– And you stick to it…

– A fantastic money management system (not that stupid 2% rule BS)

– And a good head on your shoulders..

…you can dominate the market.

Without all of that, YOU will be the one that is dominated.

The market will kick you in the nuts, toss you off a cliff, pick you back up and stomp your face in.

Day in, and day out.

I am sure some of you reading this will know just how that feels.

I know I do.

And it is not a very nice feeling.

Trust me.

You know, I actually talked about all this in a recent email I sent to all my Inner Circle members where I outlined every single minute detail of what they need to do in order to rape money out of the markets.

If you join now, you might still be able to catch that email I sent out to them

Here is the link:

https://karmasenge.com/inner-circle/

How Much Time Does it Take to Be a Consistently Profitable Trader?

How Much Time Does it Take to Be a Consistently Profitable Trader?

Well that is a GREAT question.

One of the best questions I have heard of in a long while. This question actually came from Matt from Denver, Colorado today.

And the answer: It depends.

I know that is not what you wanted to hear. But it is the truth. There are a ton of factors to take into consideration.

#1

The #1 thing you need to have in order to be a successful trader is a Trading Plan. Do you have one? Do you know it is a successful plan? Have you backtested the plan? 90% of traders out there do not have a trading plan. And in fact, most of them do not even know you need a trading plan. That's crazy. And then once you have a fully developed trading plan that has been tested, you need to stick with it.

#2

The next thing you need to be a successful trader is a Positive Expectancy. Now we already went through this a couple emails ago. But it is a great factor in order to become successful.

#3

The third thing you need is to be consistent in everything you do. And I am really talking everything here. Not just how you enter and exit trades. But consistency on what time you wake up, following your plan, the research you do prior to making a decision on taking a trade. Everything plays a role. One way that you can stay consistent is by writing down in your trading plan a daily routine. Man, have routines for everything. That has helped me.

But besides just having one, go through it every single day before you even turn your computers on. This is what I do. And it has helped me so much. I'm telling you, if you do this one thing, you will be a consistency master.

#4

A BIG consideration is how much time do you have to dedicate to this business? Do you have enough time to backtest your trading plan? Do you have enough time to really analyze the markets? Do you have time to get the proper education that you need in order to be successful? And how well do you learn that material? How much time do you have?

#5

Do you have a mentor? A coach? A guide? If you don't you are missing the boat. This is the secret way most people become successful in anything they do.

So if you have everything above, you have the time to dedicate to the business, you have a trading plan that is shown to be profitable and has a good positive expectancy, and you are consistent in everything you do, and have a mentor, then you will be profitable. How long will it take, who knows. Depends on you.

I have seen some people, even with everything above, never become profitable due to one excuse or another. And then I have seen others become incredibly successful and consistently profitable in as little as 4 months. But they also had the right education too with a coach that would be there for them and help them in every way possible.

So there you have it. I wish I could give you a definitive answer. If you are interested in becoming a consistently profitable trader, consider getting a good education and a great coach. Your bank account will thank you for it. And most likely your spouse too.  🙂

Until next time,

Take Care,
Karma

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