Tag Archives | traders

We Appreciate Our Traders

We’re dedicating this post to everybody who is currently learning how to trade. We really appreciate the effort our traders and team put into making this hive work.

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When I was in third grade, our class had a career day; our homework was to go home and talk to our parents about what they did for work and share with the class the next day. That night, I climbed up on my parent’s bed where my dad was focused on his laptop.

“Dad? What do I tell my class you do for a career?”

He faced me with a serious expression on his face,

“Tell them I catch invisible numbers from the air and turn them into money.”

My father? He probably thought he was so funny sending his innocent daughter to face her teacher on career day with that explanation of his job. I was still young enough to have complete faith in whatever my dad told me: that he caught invisible numbers and he was a leprechaun. It wasn’t until years later that I actually knew what that explanation meant…and that he wasn’t really a leprechaun (but if you’ve seen Shawn, you can understand why believed him for all those years).

Most of the time, as people, what we don’t understand intimidates us. For example, the first time you saw a trading chart you might have thought it was overwhelmingly confusing and impossible to understand (you guys are probably smarter than me though, please say I wasn’t the only one!). One thing that I’ve found to help me is to look at it as simple parts; I like to view it as a math problem where I learn little things that add up to the whole: Trading. If we follow the old adage to learn something new everyday then hard things can become easy.

Don’t forget to take a moment to look back and appreciate how far you’ve come. The great thing about a lot of us is that we come from non-financial specialized backgrounds. We’re changing the image of traders! We have a firm belief that anyone who has the desire and discipline can become a successful trader, and you guys are proving it. Please take a moment to feel good about what you’re doing before you get back into understanding pips and stop losses.

Happy Trading!

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Demo Accounts Hold You Responsible

“Genius is one percent inspiration and ninety-nine percent perspiration.” -Thomas Edison

Hello Traders,

Take a look at this equity curve from one of Apiary’s demo accounts:

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What do you see?

I see someone with a mental block. However, I also see that they kept trying. Go back and take a look at that quote I’m sure most of you just skimmed over. Perspiration (i.e. hard work) is the key to becoming “genius.” This definitely applies to trading. Apiary Fund’s demo accounts offer a chance to become a genius at trading.  It gives you real life trading scenarios and demands without any of the pressure of trading real money. This teaches you to think and develop strategy instead of relying on luck. Luck will run out eventually, and it will be necessary to develop a strategy.

If you haven’t guessed by now, this is one of my demo accounts. Personally, I like to use a consolidation breakout strategy, and when I use it right it produces a nice equity curve. Using this, or any strategy, requires discipline and hard work. A friend gave me 7 steps to consider before placing any trade.

  1. Proper preparation
  2. Hard Work
  3. Patience
  4. A detailed plan before every trade
  5. Discipline
  6. Communication
  7. Replaying important trades

While each of these steps may mean something different to each of you, everyone could benefit by considering them before entering a trade.  With each of my big losing trades, I missed applying at least one of these seven steps.  My rebounding wins happened because I chose to follow these steps. I’ve learned that I can’t control what happens with a trade after I’ve placed it, but I can control what I do before placing it. My 6 biggest losing trades in this account are responsible for over half of the total equity lost. That’s out of 50 losing trades! Whether I wasn’t patient enough to wait for the right setup, or I didn’t have an exit plan, some step was overlooked. That is something I CAN fix. There is nothing wrong with losing a trade, that’s just part of the game. What’s important is that I follow my trade plan and stick to it-no matter the temptation to jump into a trade without proper preparation. I can handle the other 44 losses. They wouldn’t amount to much because I followed an exit strategy in each of them.

I’ll end with one of my favorite quotes, and hopefully you can all apply it to your trading:

Let me tell you something you already know. The world ain’t all sunshine and rainbows. It’s a very mean and nasty place, and I don’t care how tough you are, it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward; how much you can take and keep moving forward. That’s how winning is done! Now, if you know what you’re worth, then go out and get what you’re worth. But you gotta be willing to take the hits, and not pointing fingers saying you ain’t where you wanna be because of him, or her, or anybody. Cowards do that and that ain’t you. You’re better than that!” -Rocky Balboa

Happy Trading!

Jacob Johnson

Trader Support

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