Sunday, May 26, 2024

How long have you been trading with Binance Guides?




I have been trading for over 5 years now, this does not include investing experience.


If experienced traders are highly successful, why would they be willing to help junior traders learn… why not just trade and make money?


The answer is simple but complex. I’ve found it useful to obtain continuing education by retaking courses… taking additional courses and teaching courses about trading. Whenever I teach something which I am familiar with, I learn it even more. When coaching people I am still able to trade at least the slower trades.


Can you give me some more detailed Binance Guides information about the coaching?


The coaching is highly individual and depends a lot on what you want to know and your level of knowledge/experience. But let me give you some ideas…my goal is to give every student a comprehensive insight into how a trader works, and a solid foundation and overview over many different aspects of trading. The most important part of my coaching is practical trading. This means, the student will sit down with me and I will explain in detail what I am looking for during the day, what strategies I use, what tools I need, how the current market effects our trading etc. For many students this is very “enlightening”. A lot of my students already read many books, I even had people here, that were licensed market makers on different exchanges. These people have a very good fundamental education, but they all have one problem…they don’t know how to apply their knowledge into practical trading. The next (smaller) group of people are complete novice, they don’t know how to read a chart, how level 2 works etc. I will take my time and explain them all those tools in detail and apply this new gained knowledge directly into real trading wherever possible. Another important group of students already daytrades themselves and they seek guidance regarding strategies and psychological issues. Let me tell you a little about my trading style. On the open I like to focus on Momentum trades. in this period I also like to enter some reversal plays based on extremely oversold or overbought conditions on the daily chart in conjunction with support/resistance. Most swingtrades are also entered in this time. After this opening period I like to focus on trending stocks and I will trade breakouts on them. I am applying tape reading techniques as well as regular chart analysis on these trades. Even tough a lot of my trades are based on breakouts I do trade pullbacks or reversals as well (using stochastic etc.), at least I show the student how to trade those and give them an overview. Depending on the day, I will do live trades in my account when a student is with me. Other major topics in the coaching are software and computer setup, choosing a broker, choosing a software etc. as they are often requested by students. Ok, I could go on, but I guess you get an idea.


What type of Binance Guides trades do you most like?


Most of my trades are based on intraday patterns like breakouts in combination with different timeframes including daily charts. Some of my trades are only based on daily chart setups i.e. swingtrades. For the market opening I like to focus on momentum stocks with gap and volume. Momentum setups are based on just price action and momentum.


Do I need knowledge about trading in order to attend the coaching?


There is no special knowledge required to attend a coaching, since we can start training you right at the bottom starting with basic knowledge.


What broker do you use?


I have used most of the big daytrading brokers. I can provide you with information about all of them. I am currently using Interactive Brokers.


How long do you usually hold your trades?


Since I trade many different types of setups I hold my trades anywhere from a few seconds to a few days.


What do you think is the most crucial key to success?


The right state of mind is certainly one of the most important things an yet the most difficult to work on.


How do I pay for the coaching?


If you attend a coaching in our office, you can pay in person on the coaching day. For all other coaching services you have to wire the money in advance, or simply pay with your credit card.


What is your favourite market?


Most of my trades take place on the Nasdaq because of the incredible liquidity and market insight we have there. More and more I trade NYSE stocks as well.



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