Two key factors every trader must master
The Warlock – Kenny Glick – here.
Two sides of the same coin. Two of the most important aspects that I try to stress to my Warlock’s World members.
Have you been paying attention to the market at large lately?
We’re in a bear market. And recession is looming.
Do you see me worrying?
Not at all.
Do you see me rushing to put a trade on every morning?
Not a chance.
Now why is that?
Because I understand RISK and MONEY MANAGEMENT.
And if you don’t….or if you’re consistently losing money in this market…it’s time for you to join my Warlock’s World.
The market is up 3% one day, down 3% the next. Or it’s trading sideways. That makes managing risk more crucial than ever.
In Warlock’s World, I teach my community to manage risk by teaching how to define significant price levels, how to whittle down the entire market into a few of the best stocks to watch that day, and more.
By having defined risk before the trade is even opened, and having the discipline to stick to that defined risk, we minimize risk and its damaging potential on our accounts.
Which brings me to money management.
While mitigating our risk is helpful, it’s still up to us as retail traders to manage our account – our money – correctly.
What does this mean?
Suppose I have a trade idea. I’ve defined my significant price levels, I have a theoretical upside profit target and risk mitigating stops in place.
You know what I’m NOT going to do next?
I’m NOT going to put my entire account into this one trade.
Even though it’s risk defined.
Because I have a responsibility to myself to protect my account and manage my money appropriately.
For a lot of my new Warlock’s World members, I recommend dialing position sizing waaaaaaay down in order to learn how best to trade VWAP.
It took me 18 months to learn to trade this way. However, I didn’t have the greatest trader on earth training me. And you do.
My point is, gradually scaling position sizing up as you learn discipline and VWAP trading methodology is what I teach in Warlock’s World to protect you from yourself.
Many other so-called “gurus” wouldn’t bother teaching this important aspect of trading.
And that’s what sets Warlock’s World apart and makes it the best online trading room PERIOD.
That’s all for now, VWAPians! I’ll see you in Warlock’s World.
Kenny “The Warlock” Glick
June 29 2022
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