How To End Laziness In Trading

Here’s my latest training video in the What Is Stopping You From Profitable Trading series.

But you can get the whole series for just $6.95 by clicking here.
Enjoy!
Thanks!
Good trading,
Courtney
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How Do I Get Started?

I’ve just recorded a new video which answers the question: How Do I Get Started?

This is one of the most important videos I have ever done because it answers this important question.

I have taught thousands of people to trade but there is a large group who don’t trade simply because they don’t know where to start.

This video answers the question.

You can watch it here:

This is part of our series of video called What Is Stopping You From Making Money Trading.

You can watch all the videos free by going through my blog or registering for $6.95 and get them in a convenient form with notices and so on. You can register by clicking here.

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How to Backtest and Gain Tremendous Confidence In Your Trading!

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Here’s a video I put together for you to teach you how to back test.

Backtesting is one of the most powerful ways to conquer fear, create confidence, and make more money!

I’ve included this video in our new online course How To Jump Start Your Trading. This exciting course covers all the stuff that nobody else covers. This includes:

  •     How to track your trades
  •     How to create a program for constant improvement in your trading
  •     The psychology of trading
  •     How to create a trading business plan that really works

And much much more.  Please check out the course here.

The Jump Start course covers the structure of your trading and this info can’t be found anywhere else. Register here now!

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How To Have Confidence To Trade

One of the critical aspects of making money in the market is confidence. Without confidence you will never put in a trade and therefore never make money!

I’ve put together all of this series of videos into one spot to make it super easy to view them all. It’s only $6.95. Super cheap! And super easy to sign up by clicking here.

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What is Stopping You From Making Money Trading?

Stop Losing Money Trading from Courtney Smith on Vimeo.

I’ve put together a series of videos that YOU designed.

I sent out a survey a while back asking the question: What is stopping you from making money trading?

I got a lot of great responses!

So I am devoting one video for each one of the reasons and there were a lot of reasons!

More importantly, I’m going to solve each of the problems in the video. So if you have a problem with trading then I’m going to solve it for you!

You won’t want to miss any installment!

The first video sets up the series and then each following video will outline the solution for one problem only.

In addition, I’m putting all the videos into an online course for just $6.95. They will all be in one location to make it super easy to review them without having to search through all my blog or Facebook posts. Easy!

You can sign up for the course by clicking here now!

So check out this first video and watch for future ones or simply signup for the whole series by clicking here.

Thanks!

Good trading,
Courtney

P.S. The information is so powerful. The price is so cheap. Why not just join the course and make it easy on yourself? Click here to sign up now!

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Should You Make Big Money Or Consistent Money?

By Courtney Smith

Of course, the answer is both

We should always be trying to make both big money and consistent money.

But the techniques for doing these two things are very different! Big money requires patience and means that you can typically only have a few positions on because you need to focus your investment into fewer but larger positions.

Making consistent money requires that you do a lot of trades so the odds work in your favor. Let me explain.

Making consistent money means that you make money nearly every day. You don’t want to have a lot of losing days.

This means that you must do 5-10 trades a day. Let’s say you have 75% winning trades. Let’s say you do 8 trades today. The chances are very very high that you will have a winning day. If the odds are true today, you should have 6 winners and 2 losers. That will make you a winner!

Now if you only do one trade per day then you will have 1-2 losing days per week.

So one of the keys to making consistent money is that you do over 5 trades per day. That builds consistency in your trading.

Of course, this is an important consideration when you are trying to make a living as a trader!
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I think that this conflict is a lot like people wanting to be rich so they can live a rich lifestyle. But you can live a rich lifestyle right now with the proper training.

People want to get rich trading so they can quit their job but they could quit their job right now if they could make consistent money and only work a few minutes a day!

So, to me, it is more important to earn consistent money than make big money! Making consistent money means I can live free now without have a big bankroll!

Of course, I still want to make big money but the first goal must be to attain financial freedom by creating consistent income. That way I can quit my job and gain an additional 10 hours a day by not having to go to a job. I talk a lot about this in my book How to Transform Your Life Through Trading (click here for more info).

So, first consistent money then big money.

Thanks!

Good trading,
Courtney

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Oil Is About To Plunge Even More!

The dramatic fall in the price of oil has re-arranged the global macro economy and created opportunities to make massive money.

Most people assume that oil is going to boom again soon and that the low has been made. Crude oil prices have certainly stabilized over the last couple of months. But they are about to plunge instead. I’ll tell you the bull case in a minute but first let me tell you why prices will plunge first before they rally.

 

Right now, the US is producing more oil than it can consume. So oil is being put into storage. There is a normal seasonality to this adding to inventories and then subtracting from inventories. We are now in the period where we should be taking more out of storage than we put into storage as refiners crack the oil to mainly make gasoline for the summer driving season.

For the first time ever, we are increasing inventories at a time when we should be running them down!

We are producing so much that the refiners can’t keep up with the supply! In fact, there is so much oil that refiners are making exceptional profits of over $20 per barrel compared to the usual half that much. Profits are so huge that refiners are refining day and night to collect these profits. Currently, refiners are refining 16 million bpd which is 1.5 million bpd over the five year average.

The excess oil is being stored which leads to the next problem. Here’s how Christopher Helman of Forbes puts it:
“Oil is plentiful. Oil is cheap. Oil is piling up in storage tanks nationwide. America’s most famous oil hub, at Cushing, Okla., is already 70% filled, with about 60 million barrels of crude sitting in its tanks. Total U.S. commercial stocks of crude oil are closing in on 500 million barrels, nearly 150 million barrels above the 5-year average. And storage will get filled up even more. U.S. oil production remains at record highs, as the drastic cuts in drilling and fracking have not yet showed up in lower volumes.”

What if Cushing gets filled? Then producers will have no choice but to sell it quick. That will cause the price of oil to plunge. Here’s what my friend Bill Tucker says:
” The calculations did get a little more interesting this week when we learned that crude oil storage at Cushing has reached a record high. 70.8-million barrels are in storage in Cushing, OK. That represents 77% of Cushing’s capacity.”

What could go wrong with my idea? Perhaps hedge funds have bought up all the oil and are storing it away. But I don’t think so.

I also like the idea that we would have one last liquidation of all the bulls which would then lead to a major bull market. That would be a classic end to a bear market.

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Learn To Trade Using Courtney’s Money!

We have created an amazing new course called How To Make A Living As A Trader. The most important bonus is that Courtney will open an account and let you trade his money. This should help you become a profitable trader as you should no longer have a fear of losing money. You can lose Courtney’s instead!

This bonus, called the ProTrader Program, is designed to help you develop into a professional trader using Courtney’s money.

This is an unbelievable bonus only for graduates of How To Make A Living As A Trader! Click here now to find out more about the course and the ProTrader Program Bonus!
Courses coming up in Singapore, London, and Las Vegas!

 

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Mega Moves

Peter Brandt pointed out to me that there are around 8-12 mega moves per year. A mega move is any move that will make you $5-10,000 on the move. He said to me that his goal every year was to only do those trades. He thought that the ideal year would be that he only traded those trades.

Of course, in the real world we can’t just trade those mega moves. We will have other trades that are losers and other trades that will be small winners.

He felt that a year where he did, say, 25 trades in a year but caught all or nearly all of the mega moves would be a highly doable and highly profitable campaign.

Ou focus should always to make these mega moves. They can create wealth that changes our life. Yes, we will have other trades. Some winners. Some losers. But these other trades will not net to anything that will change our lives. The mega moves will change our life.

You may have problems with catching the mega move. Do you feel in your heart of hearts that you deserve to make mega money? Do you get out of your trades too soon to make the mega money? Do you have an entry and exit strategy to ensure that you will be in the mega moves?

Examine your trading. Are you cashing in on the mega moves or is this massive money passing you by?

 

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Why I Think Bitcoin Is Idiotic

Dateline: London

Am I the only one?

The world is ablaze with bitcoin this and bitcoin that. I am often asked if we should trade it or if it will replace the US dollar.

What nonsense!

Bitcoin is fatally flawed and will disappear. What will remain is some of the ingenious infrastructure underlying it.

First, is it money? Generally, money is supposed to have two main attributes, a store of value and a medium of exchange. I argue that bitcoin is neither.

How can we say it is a store of value with the price skyrocketing then plunging. Clearly not stable enough to be considered a store of value.

Medium of exchange? Quick! Go buy a loaf of bread!

Sure, there are a few ways to spend them but come on, it is a pathetic medium of exchange.

Also, the security is way worse than any money. Look at the Mt. Gox fiasco where a large percentage of the total number of bitcoins “disappeared”! Really, come on. And there have been other disappearences too!

Right now, if someone steals my money from credit card, the bank has to make me good. But if they steal my bitcoins, shame on me.

And the supply of bitcoins comes from solving math problems? Clever but stupid. Math problems do not represent a medium of exchange. Real money can be exchanged freely for labor and goods and, in fact, money represents the productive economy. Bitcoins represent solving math problems. Fun! But not money.

I love the idea behind bitcoin. To create an anonymous currency. But aren’t bars of gold or $20 bills also anonymous?

The government doesn’t like that anonymity so they have effectively outlawed the use of cash over $10,000. I keep forgetting that legal tender really means legal tender for all debts under $10,000.

I really want someone to solve this problem but bitcoin is not it. There are way too many problems with it.

 

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Greece: The Worst of All Possible Worlds

Dateline: Nice, France

The situation in Greece is getting worse.

The new government is trying desparately to get it’s lenders to effectively cut the amount owed. It’s called taking a haircut.

So far, lenders are saying, “drop dead”.

Financial Times columnist Martin Wolfe says, “Maximum austerity and minimum reform have been the outcome of the Greek crises so far. The fiscal and external adjustments have been painful. But the changes to its polity and economy riddled with clientelism and corruption have been modest. This is the worst of both worlds. The Greek people have suffered but in vain.”

He is also describing nearly all bankrupt countries which includes all the Southern European countries and France (and many other countries around the world!).

The austerity has been forced onto the people but not onto the governments. Only one country in Europe has cut government spending. ALL other countries have increased spending. So no austerity there.

But many countries, including Greece, have raised taxes thus putting the burden of austerity directly onto the people.

Ruling governments are not willing to take the steps necessary to cure the problem which is overspending by government. They want to keep their cushy jobs.

The insanity is that they believe the solution to the borrowing they did to support government spending they couldn’t afford is, wait for it, to borrow more! Brilliant!

But, of course, the purpose of the borrowing is not to solve the problem but to extend the time that the ruling government gets to delay biting the bullet and cutting spending.

Europe is a basket case. Nonetheless, I am bullish on European equities due to the monetary flood coming from the European Central Bank. The rising tide will float our bank account!

 

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