Every Good Trader Does THESE 5 Things | Hardcore Trading Skills


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Do you know what the top five things that every trader should be doing every day? Let’s find out together.
My name is Jason and welcome back to the channel.


On Saturday, a great friend of mine, one of our members, and a really, really great trader wrote me a question and asked me the following:

“Jason, what would be your top five things a successful trader should be doing every day?”

And he’s actually, he was actually our very first member in Binary Masterclass. I’ve known him for a good number of years, he’s a brilliant trader, and I thought this was such a great question that I thought, well, let’s make a video about it. And what would you say, in your opinion, what would be the top five things that you think a trader should be doing every day? And make sure you put that in the comments, and I’ll happily comment on it and maybe you will actually change my opinion on what someone should be doing every day and maybe I’ll make a video out of that as well. So go ahead and write that into the comments down below. But what would be the top five things?

The first thing that I would say, that every trader should be doing is starting to record your trading. You can get all kinds of free recording software. Maybe you have a free account at Zoom or there’s OBS software. That’s this cool little kind of thing, circle thing in the upper right of the screen there. OBS software, it’s free, it’s open source. It’s very, very feature-rich, a lot you can do with it, but you don’t need to get so crazy in all kinds of recording. Maybe you just use Zoom and just record your trading sessions. You sit down, you open up your computer, and if you’re using MetaTrader 4, if you’re using NinjaTrader, if you’re using TradingView, it doesn’t really matter what your trading software is. You simply put your recording software on your trading software, or whatever it is you use to make your trading decisions, and you record that. Make sure you have a microphone so you can be speaking into the recording as well. And then on a separate device, maybe you have your pocket option or you have whatever your binary options brokerage account is, and you place the trade there. There’s no reason to be necessarily recording your binary options broker, unless that’s also what you’re using to be making your trading decisions. If that’s the case, then make sure you record that. But you want to be recording your chart and in this you want to be talking about what you’re seeing in the market, where you want to get into a trade, where you actually get into a trade, why you got into that trade, and then whether or not you won or lost. Do that for, I don’t know, about 10, 20 minutes every single day. And then you come back the next day and you watch that recording. And then you look to see, well what did I notice then? What did I not notice then? What was I blind to? And you really have to approach this whole thing with the idea that you’re blind. Just consider the strong possibility that you’re blind, that there’s something you didn’t see. And you know, like, we oftentimes as human beings, we see things that aren’t there or we don’t see things that are there. That’s why optical illusions are such a thing and we’re blown away. We’re absolutely blown away when we see an optical illusion. You know we see like these spinning circle things and it looks like it’s spinning like a record player and actually, it’s not spinning but because the way the lines are, our mind is convinced that it’s spinning and that means we’re seeing things that aren’t there. Or there are other times that you can actually like look and you see color in a black-and-white picture even though there’s no color there. Our minds always play tricks on us. So we want to go back and look at that objectively so we can see what did we think that we saw that we didn’t actually see and what did we not see that maybe we could have or should have seen. And that’s gonna begin to train us, that’s gonna begin to train you to become a better trader and see what the market is actually doing and not what you just always thought maybe the market was doing.

So a couple of things with that, I mean, use Zoom or some of the free software. Don’t go all out crazy and get some expensive screen recording software. There are some really, really good ones out there like Camtasia. I personally use Camtasia for many things. I quite like it, but you don’t need to spend that kind of money on it. There’s free software out there that you can use.

Record only what matters for making a trading decision. You don’t need to have, maybe you’re using MetaTrader 4 or NinjaTrader or TradingView or some other trading software, and you have your pocket option on there and you have a news feed that you look at or whatever, don’t worry about any of that. Only maybe just use your trading software. Just record your trading software and of course your voice, saying what it is that you’re doing there but just record only what you use to actually make your trading decision. If you make your trading decision based on the price with a Pocket Option or whatever, then use that screen but only record the screen that you use for making your trading decision.

And then upload it to a private YouTube channel or something like that. That way you’re not taking up a bunch of space on your computer screen. You can upload it to a private YouTube channel, you don’t even have to make it public, then you can go back and watch it whenever you want to watch it. Our members, they upload it into our private group and then other members go on and say what their thoughts are on the trade. I go on, I personally give my review of people’s trading and so it really becomes a really, really cool thing. But you can even send this to other friends and they can give their reviews of your trading and then you actually become a better and better trader out of that.

Make comments. Make comments. It’s important not just to go back and watch your recording and think about what you could have done differently, or think about what you saw or didn’t see, but actually write that down. That’s what’s really cool about putting it on YouTube or some other platform like that, so you can even write to yourself comments of what you saw or didn’t see.

Also, what’s really important, and it’s like what I already said, assume you’re blind to something don’t go into this thinking and you know it’s like trying to prove to yourself how well you did, go into this with the base assumption that you were blind and look for what you didn’t see before and it will make a big big big difference in your training especially if you do it over a long period of time. I have personally witnessed how entire institutions, when they brought this in, I was the director of education at another trading institution, and we implemented doing exactly this. We actually made it a requirement for all traders to do this, and comment on each other’s content, and it brought the profitability of the entire institution full, you know, it was a complete 180. It took traders who were not profitable and all sudden they’re profitable. Traders who are break-even and they’re profitable. Traders who are profitable and now they’re much more profitable. It’s an amazing set. It’s an amazing way of doing things. So absolutely start doing that every single day.

Another thing is to know your stats. A lot of people they’re trading and they have no idea what their trading statistics are. So you wanna know your stats, you wanna track your trades, not just recording the trades on a video, but you wanna actually write them down so that you know how many wins you’re getting, how many losses you’re getting, and you can begin to develop a relationship with those. Are you using a Martingale money management? Well, you need to track how many times you win when you have a first entry, how many times your second entry wins, how many times your third entry wins, how many times you lose overall, and however far you go in your Martingale you need to know those statistics. You can know statistically you win 94% of a fourth entry win. Well then you got to know is 94% does that mathematically make sense to even go into that? It might not. But if you don’t know your statistics, then you’re just clicking buttons. You’re entering into a very risky territory, completely blind to what’s actually going on. And you can even know, like, well, you know, maybe 68% of your first entry win, but only 24% of your second entries win. Well, that means you’re not doing very well on your second entries. There might be something that you’re not noticing. There might be something that you’re doing wrong in that. There might be some way that you’re getting emotional or whatever and but then once you recognize that you can go back and watch your recording again to see, oh what am I usually doing when I place my second entry and you can quickly find the problem, and the more quickly you can find the problem, the more quickly you can fix it, and the more quickly you can fix the problem, the more quickly you can have profits, the more quickly you can have profits, the more quickly you can enjoy your life in that. So you gotta know your win percentage.

Most of you, I promise you, most of you do not even know your win percentage. You don’t even know how many of your first, second, third, fourth, fifth entries win, and you’re trading the Mstrategy, well, that’s not going to work out so well for you. And you’re asking why you always blow the account, then you blame someone else, you blame Pocket Option, you blame, I don’t know, Quotex, you blame whatever brokerage there is, you blame your signal service, it doesn’t matter. But you don’t even know what your personal win percentage is, okay? You’ve got to know your win percentage. Okay, compare your win percentage of your first, second, and third entries. Even what I mentioned just a little bit earlier.

Now, I gotta ask you, do professionals in other industries do something without tracking performance? No, they don’t! There is not a single professional in any other industry who does their work without tracking certain important key statistics. But so many traders, I see an unbelievable high number of traders. It’s crazy how many traders, they think they can go and trade and trade successfully and they don’t even know their statistics. Not doable, like don’t be a drunken monkey here. Like, be a professional trader. If you wanna actually make money at this thing. Approach it professionally and you’ll start getting professional results. Very, very important. So those are two of the things you should be doing everything.

What’s another thing? Talk with other traders. And you know you’re probably a part of some other trading group, maybe some of the binary option group, maybe some forex group, maybe some crypto group, and so you’re talking with other traders. That by itself means nothing. You probably have seen other people give some kind of advice and like what the heck was that? Like what was that? Alright? You yourself have more than likely given advice and everybody else is like, oh my goodness what was that? That is horrible, that is absolutely terrible. Okay? Stop that. You got to find a specific type of trader to begin to talk with every day. And who is that? You need to find believable people who are willing to disagree with you. Now, finding a believable person could… like, what is a believable person? And I have my own ways of determining that. Basically, a believable person is someone who has accomplished what I want to accomplish, and they’ve done it at least three times. That makes them somewhat of an authority on the subject. That is the basic minimum requirement for that person to be believable to me. If they haven’t done at least that, they’re not, they haven’t met my minimum requirements. All right. But if you have a believable person, but they’re not willing to disagree with you, they’re just going to say yes to whatever you say. Well, that’s not going to benefit you at all. Or if you have someone who’s willing to disagree with you but they’re not actually a believable person, well then that’s not going to get you anywhere. You’re just going to be ending up in arguments and they’re going to say something that’s going to disagree with what you had to say but you don’t actually know if the person has any credibility to it. So you want to find believable people who are willing to disagree with you in the trading room. Either in our trading room or wherever it is that you want to be.

And of course, I can tell you, we have believable people. We have profitable people who have been consistently profitable in our trading room. And I’m willing to disagree with you. I’m willing, because to me, it’s not about you just getting another pat on your back saying, hey, good job, because another pat on your back saying, hey, good job, is not going to actually cause you to get out of that streak where you have two weeks of awesome trading and then five minutes you blow your account. That’s not going to get you out of that. You need someone who says, hey stop doing that right there and start doing this. And then when you have a believable person who’s disagreeing with you and the way that you’re doing something and tells you a better way of doing it, then you actually start becoming a better trader and start accomplishing those goals that you want. So every day talk with other traders who are believable and we’re willing to disagree with you.

Use the trade result cycle. What on earth is the trade result cycle? It’s this. You take an action. That action leads you to a result. that result you then assess that result and then you determine a new action and then you repeat using the new action. This is something that you’re probably not doing. You have an action. First of all, you have a goal. I probably should put that in. You have a goal and then you take an action. Okay, you have a goal that a particular trade is going to win. You want to go you want to buy a call on the GBP-AUD and then you take an action and then you have a result the GBP-AUD to trade either wins or it loses. Let’s say it loses and you assess that result it lost but you don’t just assess the result saying oh it lost you actually look at it and you assess it and all right it did not line up with what my goal was what did I do? Did I place that at a really good spot? Or did I trade like a drunken monkey? Did I put too much risk on that maybe or did I just caution by the wind and just whatever? So you assess it in question. Did I really do a good job there? And you don’t get down on yourself. You don’t beat yourself up. You don’t do any of that weird stuff. It doesn’t work anyway. You just look, did I do that? Yes or no? Yes. Okay, great. Then I just got unlucky. I just had a bad trade. It just happens. Did I not do that? Okay, great, what do I need to do in the next trade and the next trade? Okay, great I’m gonna do that BAM! you do it and then you determine your next action and then you do that next action and you’re gonna get a result whatever that result is you’re gonna win or you’re gonna lose. Don’t know, doesn’t matter. You’re either gonna win or you’re going to lose. And then you’re going to assess that result. Maybe you have a winning session. Well, still go back and assess it. Did I do it as well as I could have? Did I just get lucky on some trades? Because I want to tell you guys, a winning trade doesn’t mean it was a good trade. A losing trade doesn’t mean it was a bad trade. You can have the stupidest, worst possible trade entry in the world and still win it. It’s absolutely possible. You can have the best possible setup in the world and you’ll still lose. You cannot look at the result and use that as your assessment if you actually place the trade well. So you’ve got to go back and assess, really not even the result, you’ve got to assess the actions that you did that got you that result. Assess those and see if it actually line up with good quality trading. That’s what we do in the trading room every single day. You hear me, I assess my results openly in front of everyone and I tell them, I did a stupid trade there and this is why. And I’ll even assess my internal thinking where I’m like, guys, right now, I don’t even wanna be vulnerable with you guys. That was such a bad, dumb trade. I don’t even want to be vulnerable. But here is what I did stupid on that trade and this is what I’m going to do in the next one and that’s how we, you know, come back from losses all the time. It’s amazing. It’s crazy. Okay. Alright.

Next thing is teach someone. Teach someone. It sounds crazy, but teach someone. Teach someone. Maybe not every day. Teach someone at least once a week. You’ll find other people who are recording their trading sessions and then you go on and you with good quality, believable trading principles, go on and make your comments about their trading because they will benefit of course and you will benefit.

One of the things we actually do in the trading room is people who are Premium members, we even give them the opportunity to take their trading to a next level, and they actually become moderators of the trading room. And we’re training them even in that, and they are teaching other people. And the moment you actually start teaching someone else, it causes your personal accountability level to go up. Well, if your personal accountability level goes up, guess what, you can only place good trades. You can only place good trades. And guess what happens when you only place good trades? Guess what happens when you only do good quality money management. Guess what happens when you only approach the market in a professional kind of way, you start getting professional results. And that can only happen when you teach someone seriously like seriously teach someone but don’t be an unbelievable crazy person who’s giving information that doesn’t even mean anything if you’re a YouTuber and you’re giving like dumb information on YouTube, stop it. You’re bringing down our whole industry. You know like, let’s give good quality information. We’re gonna like train people to actually be good in the market not like weird stuff, okay? So teach people and give high-quality information to the best of you know how. And if you don’t know, if you don’t have awesome information yet, just make that part of your response. “Hey, I’m still learning. This is what I kind of see in your trading.” I’m having a dialogue with you about it so you can learn more and I can learn more. Let’s have fun together.

And those my friends are the five things that you should be doing every single day. Record your trading, track your trading, and be talking to people who are willing to disagree with you, and teach someone. I can’t even remember what the other one was. Oh yeah, the trade result cycle. Do those five things every single day, and you’re going to find it’s going to have a massive, massive difference on your trading. It’s going to change everything.

So, there you go. I’m looking forward to the next video. Have a great day.