You may wonder if you're in the right place with Base Camp Trading. Many traders try to find the simplest, easiest way to bring money in, and often endlessly chase every shiny object that comes along. That can get frustrating after a while. Many traders have decided to stop chasing every trading educator's promises and have chosen Base Camp Trading as the educator to follow. Many do so because the instructors who sell the products are actually in the rooms, using the products, and showing how they can be used to make money. Plus, BCT has some truly amazing, unique courses and tools, including the patented ValueCharts, and we're the only place you can get them.
So you're in the right place, now how can you get things moving for you... If you have a Platinum, Momentum Club Platinum, or Income Club Platinum membership, which means you have access to one or more live trading rooms, you have lots of additional resources available to you, like the After the Bell (ATB) training. One of ATB's goals is to get new traders up to speed so they can start to make the most of the trading rooms. If you haven't started attending ATB, Mondays and Wednesdays at 4:15 pm ET, that's a great place to start. It's helpful to attend the live session and participate with the questions that John asks - it's how you learn. The sessions are recorded, and recent recordings are available on the member dashboard if you can't attend live (click the Office Hours button under the Support choice in the left menu).
To find out what else is available to you, see this article on how to get started:
And if you haven't watched Naked Trading Mastery in a while, watch it again in the Member Dashboard. That's packed with really helpful info that a newbie would miss the first few times watching it.
Then pick a strategy, such as looking for bull flags on a 5-minute chart when there's also a bull flag on a higher time frame, like a 30-minute chart. If you don't know what a bull flag is, ask in After the Bell training, or at a quiet time when the instructor isn't too busy in the Live Trading Room. Write out the simple rules for the setup, and identify where your stop and the target(s) would be. Then paper trade it and see how it works. Backtesting is a great way to do a whole bunch of testing quickly, whereas forward testing is real-time and much slower, since you have to wait. Backtesting shows you the result immediately. Backtesting just involves bringing up a chart with a lot of history, scrolling all the way back to the beginning, walking through each bar, one by one, looking for setups that meet the rules you wrote, and seeing what happens. You could probably find dozens of setups to see how well your system works in under an hour. Track each trade in a spreadsheet to see how well you'd do if you followed your rules. Adjust your trade plan to fine-tune it, and test it out again. Repeat until you have confidence that your trade plan will produce winners, and your trade log will show it.
Then paper-trade it in real time, as if you were live trading, but without the risk since it's paper-only, logging each trade and making your system better as you gain experience with the plan and your trading platform. Repeat until you achieve consistent success, knowing you're building your trading muscles through disciplined practice. You'll eventually get frustrated that you're not taking the trades for real, because your confidence in your trading system has grown. At some point, which is different for everyone, your confidence will be high enough to overcome any hesitancy. When you're ready with this confident plan, try a little real trading, making sure you're still following your rules and logging your trades. You can continue paper trading alongside your real trading to keep practicing and gaining experience. Systematic, emotionless trading is key. It might be a bit boring this way, but that's actually good, because we don't want our emotions interfering with our ability to follow our plan. So rather than looking for excitement from your trading, let it generate the income you want, then do some exciting things with the money with your friends and family. Set some realistic, shorter-term goals, and then see if you can beat them. Grow from there to develop new strategies the same way, practicing it on paper until you're confident with it before trading it for real.
You just have to start and build your trading experience and muscle. And pretty soon, with a smile on your face, you'll be wondering what took you so long to get started.
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