a one-size-fits-all trading strategy
does it exist I'm going to go ahead and
ruin that right now no it does not exist
and here is why to best illustrate this
I want to just go through a whole other
different kind of scenario and then I'll
talk about it and kind of tie it back
into just trading as a whole so let's
say that for whatever reason look I just
don't know how to have fun so that's
your problem right you want to have fun
but you know how exactly do you have
five and you're thinking well you know I
that that's what I'm interested in
that's kind of the problem I need some
sort of solution and your solution is
hey you know what I see some guy
offering whether it be like a
subscription service or some sort of
course and it's going to teach me how to
have fun in fact they're sitting there
you don't say all we have the with the
funnest of all fun I know how to have
fun you're like you know okay all right
so I'm going to go ahead and buy that
course so to me that seems like the
solution I'm going to buy the course and
then in the course his solution is hey
you want to have fun this is how you
have fun you go skydiving and then that
is his solution to the problem of how
exactly do you have fun so that brings
up the question all right was this a
success was this money well spent well
you know what it actually depends what
does it depend on well it depends on
something that you would call risk
tolerance what do I mean by that well
maybe you're thinking right now wait a
second skydiving does not sound fun at
all to me and if I bought a course about
how to have fun and then that it was
just hey go skydiving or replace that
with maybe go deep sea diving in
underwater caves or you know go running
with the Bulls over in Spain you think I
know I that wow I feel ripped off I feel
like this was some sort of
gimmick type scam type no I'm not I'm
not I don't feel good about that at all
again why well that doesn't sound fun
why doesn't that sound fun well your
risk tolerance does not really fit into
that definition of fun now to be fair
could you be like oh yeah the money well
spent excellent course I go skydiving
and you know what I absolutely love it
and in this fun and I'm very happy yeah
that is possible to but it all goes back
to kind of you know what's going on up
here if somebody is saying that they
have a system a strategy that works for
everybody is that really going to be the
case when it comes to trading absolutely
not for this very reason right here
which then boils down to risk tolerance
if somebody is proclaiming that they
have a system you know mainly the one
that I see all the time out there is you
know like a shorting penny stock one or
you know in forex hey by my little
signals and when this and that happens
and you know all that and you know just
little thick my trading robots there's
another example ball hey my system is
going to work for you and it's it'll
work that's just not how it unfolds
that's not the reality of the matter
because maybe that strategy is going to
have you sitting there you know biting
your nails the whole time freaking out
because your risk tolerance is not the
same as the person that is telling you
hey this is the system that works for
everybody nothing works for everybody
the big key here and what you need to be
aware of is tools is the course teaching
you some sort of tools because the tools
if you know how to use those they can
help you build a system they can help
you build a strategy that's going to
make it feasible for you because it's
fitting into your personal risk
tolerance so for example and this you
know if the course was not just go
skydiving but it you know though you
don't ask yourself this question and
then ask yourself this question and
depending on how you answer that
question well then maybe you go down you
know path a or path B and then you ask
yourself another question or you got in
notice this is more of a kind of just
tools a process to help you
arrived at what you ultimately would
think is fun words in trading I'm not
saying it has to be but technical
analysis now for me to say technical
analysis will for sure work for you that
is a very broad statement because within
technical analysis there are all sorts
of different nooks and crannies that you
could go down a quick example maybe
within technical analysis you would find
out you don't I like to buy breakouts
may be thinking but i don't know i don't
like break us but i like to play
pullbacks again very simple example but
it just shows having the tool of
technical analysis the use of charts is
going to help you start to kind of go
through this process here and arrive at
some sort of strategy some sort of
system that you feel comfortable with
that fits inside of your risk tolerance
system so just be aware of that I see it
all the time people saying that they
have some sort of strategy that will
work for you well it what is the
strategy if the strategy is something
has tactical analysis and I'll teach you
the tools of technical analysis and then
it's up to you to figure out and to
build a strategy than fine now as a
little more in if you're thinking wait a
second I don't want to have to just
learn tools and I have to build a
strategy that fits into me you know what
just don't even try trading then because
that's how it has to be because it all
goes back to that risk tolerance that
that's just the fact of the matter is
you have to find something that you feel
comfortable with and if you don't feel
comfortable with skydiving or let's flip
things maybe you are the person that
like skydiving but then this course that
you buy they say and the key to having
fun is reading the book curled up next
to the fire on a Friday night I mean
you're thinking that doesn't sound fun
at all what does somebody else that may
sound fun but it all goes back to now i
need more risk than that i want to be
jumping out of a plane so be very aware
of this whole you know marketing ploy
this sales pitch that hey my strategy
turn me into a millionaire therefore
it's going to turn you into a
millionaire or my strategy turn you know
this guy who might just happen like sky
diving into a millionaire and it's going
to turn you into a millionaire to no it
won't because if you're not comfortable
skydiving then you're never ever going
to feel
comfortable enough because of risk
tolerance to have that be successful for
you be focused on somebody that's
teaching you broad tools because then
you can take those broad tools and build
something that fits into your personal
risk tolerance zone which is different
for all of us we're not all the same
creature we don't all have fun in the
same way and that's all because of the
whole risk factor so just be aware of
that be at now and I'm not saying you
have to go buy a course I've said would
love if you decided to buy my course but
just be aware in general if you're
looking at courses and even if you don't
buy mine totally fine but just what is
it actually the marketing what are these
people proclaiming to you maybe you
don't want to buy a course at all make
sure you're still learning broad sets of
tools don't go through some free course
that's going to teach you this is how
you have fun because you know it could
be an ultimate waste of time if it
doesn't fit to your personal risk
tolerance so you know just check that
stuff out make sure to look into it
because time is valuable you don't want
to waste it and of course you don't want
to waste money if you are somebody
that's thinking about courses so there
is no one-size-fits-all strategy because
not everybody's going to have fun
skydiving or not everybody can have fun
curled up next to the you know a fire
reading the book we're all different and
we're all different again because of
that risk tolerance
you