|The Countdown Begins-10-9-8-7-6||(0) Comments|
|Tuesday, August 5, 2014|
are about 5 days away from going LIVE with Phase 1 of our next trader platform
Similar to our Stock
Trader Wiz: Trade Diary app, you will now be able to enter trade
information on our online trader portal too, and have MORE features to help you
study your trades!
We have just about
finished creating dynamic user accounts and setting up the “My Trading” tab for
all subscribers. This will allow you to
enter and study your trade stats and learn from your trading.
We have also added
some great new features too! Here are
some of the new things you can do:
organize your trades by trade type—Core, Swing, Day, Short. This will allow you to better analyze each
type of trading to see what types of trades you are best at and which you need
most help with. It is not uncommon for a
trader to be much better in one style of trading and the others…and it is also
not uncommon to find one type of trading wipes out all your wins from the
others. Without a good tool to analyze
your trades, it is not always easy to see these types of patters.
A friend of mine was very good at Core
Trading, but ended up losing all her money focusing on Day Trading. If only she had a tool like this! She could have seen the pattern quickly by
analyzing her trades, and then strategically focused 80%-90% or her money on
Core Trading while using only 10%-20% on LEARNING how to Day Trade. What happened? Day Trading wiped her out of the market…If
only she had this tool then, I am sure her results would be very
different. Had she stuck to what she was
good at, instead of what was “exciting” to her, her financial situation would
be one of success and happiness, and she would still be trading today. Sad story isn’t it...unfortunately this
happens all the time, especially to beginning stock traders. The good news is, you have this tool to help
you along the way (…and by the way, my friend is building up her seed capital
to get back into the market! This time
she will have the tools she needs to create a different ending.)
In my own trading, Swing Trading has always
been my strongest style of trading, and by focusing 80% of my trades in this
area, I have been able to grow my equity while at the same time take on 20% of
my trades in Day Trades to the point that I have been able to improve my
trading skills overall.
is the whole point of a Trade Diary. It
is not just a homework assignment. It
allows you to see what you are doing well and where you need to improve. It gives you the necessary visibility to
identify your strengths and weaknesses in your trading. It is the one tool that I think EVERY trader
at ANY level should continue to use.
Most traders stop using a Trade Diary (if
they every even started one) once they feel they “know” how to trade. Any successful business owner will look over
their weekly, monthly, yearly results to see where the business can grow and
improve…why wouldn’t EVERY do the same?
Who doesn’t want to increase their lifetime net worth? Trading is a serious endeavor and tracking
and analyzing your trades should not be taken lightly.
(The image below is an image of the Archived Trade list. There are a few bugs we are working out, but this is how you will be able to analyze your trades. From here, you can click to View your trade details including images of your Entry and Exit.)
The Phase 1 upload
will be the first step to socializing the StockTraderWiz site. It allows other trader’s trades to be seen so
that you can look at their trade results and see where they bought and sold and
why. It will allow you to begin to see
how other traders are trading and allow you to learn what they are doing to
make winning trades.
No personal financial information is displayed (of course),
but there is no better way for beginners to learn than by analyzing the results
of other traders—Did they win? Why did
they win? How can I do the same? Did they lose? Why did they lose? What did the
trader learn? How can I apply that to my
trading so I don’t lose?
Learning from other’s experiences is a very powerful way to
improve your own trading without having to use or lose your own money. The purpose of StockTraderWiz is to help
beginning stock traders grow as traders every day, and what better way than to
offer beginning traders the ability to see dozens or hundreds or thousands of
successful trades (and in many cases the lessons learned by others through
unsuccessful trading will prevent a beginner from making the same mistakes).
PLUS, when you know that other beginnings traders are
looking for guidance from YOUR trades, then you will approach trading
differently. Sure you can delete an
embarrassing trade from your profile at any time, but the point is that making
mistakes is part of the journey and being honest with yourself is the only way
to true trading success.
Psychologically, when you know that YOU will be looked up to as your
trading improves you begin to manage your entries and exits better, you set
your stop loss orders, you lock in profits, and you carefully annotate your
trades. When you realize that you will
be helping other traders that are starting after you, you take your own trades
more seriously…and taking your own trading seriously means all the difference
between success or loss of money!
Note: Phase 2 (going live in roughly 3-4 weeks)
will allow users to rate and comment on trades and also allow users to ask
questions of other traders and begin making friends around trading. One of the best ways to learn is to find
others who are passionate about trading and to collaborate on new trade
opportunities, trading techniques, and critiquing each other’s trades.
(Below is a sample of what the home page will look like showing the latest winning trades from our users. I allows you to see other trader's wins and learn more about what they are doing to win. It can also alert you to some stocks you should add to your portfolio. OH, and excuse the sample test images :-) )
There is an expanded
profile section that allows you to enter some information about yourself, your
goals as a trader, and areas that you need to work on to get to the next level
in your trading. This information
will allow other traders to learn more about how they can help you and also see
that they are not in this alone. Every
trader at every level has goals and also has areas they are working on to
become better traders…why else would they be joining a trading community?
Fill out your profile completely (nobody will be
able to contact you outside the system or have access to your personal information)
and don’t be afraid to let us all know about you as a trader, what your trading
goals are, and what you are working on to get to the next level. Be proud of where you are…you have already
decided to move forward on your path to becoming a profitable trader. The rest of us are with you and here to
support you along the way!
(The image below shows you the new expanded Profile where you can enter more information about yourself so other traders can learn what your goals are and where they can help you improve. Excuse the test images!)
To be posted separately soon…We also just completed an upgrade to our current free Stock Trader Wiz:
Trade Diary app that is will be uploaded to the Apple App Store in the next few
days called Stock Wiz Pro: Trade Diary. The Pro version app will be an upgrade that
will sync trade data between the app and the online trader portal and will also
allow trades to be segregated by trade type—Core, Swing, Day, Short. This app is a great tool for the convenience
of adding trades to the web system from the mobile app, but is not necessary in
order to use the web platform.
The basic Bronze subscription at StockTraderWiz.com including the Trade Stats and
the FREE version of the Stock Trader Wiz:
Trade Diary app are, and will remain a FREE tool for traders even after
further system upgrades. I want to make
sure all beginning traders have this tool (something I never did) for free to
help them learn.
The new Stock Wiz Pro: Trade Diary app
will be available soon on the Apple App Store. The cost of the app covers the costs of a
full year of free syncing service to our web trader portal. Using
the Pro version app will always keep your trades current in both
locations which is very necessary if you are serious about improving your stock
Note: The Android version will be added in the
future but has not yet been started.
(The image below is the home page of the new Stock Wiz Pro: Trade Diary app. You see that you can categorize your trades now by trade type--Core, Swing, Day, Short--for further analysis!)
We hope that you enjoy the added features and look forward
to your comments and questions as you begin to get familiar with our new
system. If there is ever anything we can
do for you, please do not hesitate to contact us. We will continue to add to our system
throughout the rest of the year.
In order to post a comment or review, you must be logged in. If you are not a member, Register Now!