If you’re new to Rockwell Trading, welcome. I’m Markus Heitkoetter and I want to share with you the 3 things that you must have if you want to make money with trading. I also want to share some great resources with you.
You may have heard this scary statistic that 90% of traders lose 90% of their money in the first 90 days. And in a moment, you will understand why that is and what you can do to be among the 10% of traders that are actually making money.
3 Things You Must Have To Get Started With Trading
What I have learned in all of these years of trading is that you need 3 things to get started.
Number one, you need a trading strategy, and we’ll talk about this in a moment.
Number two, you do need powerful tools.
Number three, you need to have the right mindset.
What Is A Trading Strategy And Why Do You Need This?
A trading strategy basically answers three questions.
Question number one, what should you trade?
Should you trade Tesla, Amazon or Google? Should you trade options or stocks? Maybe you should trade cryptocurrencies, but then which ones? Bitcoin, Ethereum, Dogecoin, or any of the other sheebu-eebu-whatever coins, right?
So this is the first part of your trading strategy, that you know exactly what to trade.
Number two, when should you enter?
Even if you have decided to buy Tesla, when do you buy it? Today, tomorrow, next week? Do you wait until it retraces? Do you wait until it breaks out? It’s super important that you know exactly when to enter.
Number three, when should you exit?
When do you exit the trade with a loss, and when do you exit with a profit? Now you get an idea of why most people lose money with trading because they cannot answer these simple questions.
When someone says, “Oh yeah, I am invested in the stock market,” I ask, “OK, so what are your rules? What do you trade? When exactly do you enter, and when do you exit?”
The Trading Strategies I Recommend
I personally use two different trading strategies. One of them is The PowerX strategy, and the other one is The Wheel Strategy.
I’ve written books for each of them, and if you’re interested, you can grab a copy of The PowerX Strategy HERE, and a copy of The Wheel Strategy HERE. I’ll be happy to send them out to you, all you need to do is cover shipping.
A trading strategy needs to have rules so that you know what to do.
Powerful Trading Tools
The second thing that you need are powerful tools. When trading, you’re playing the game of games and you can’t bring a knife to a gunfight. You are trading against the most powerful and smartest traders in the world.
This is where I believe that you need to have a great tool. For me, this is the PowerX Optimizer because it shows me exactly what to trade, when to enter and when to exit.
If you would like to learn more about this, you can learn more about the PowerX Optimizer HERE.
The Right Mindset When Trading
Let’s move on to step number three and why the right mindset is so important. What I learned over the years is that trading is not a get-rich-quick scheme.
Trading is not the Reddit forum Wallstreetbets, YOLO’ing everything or betting everything on one stock hoping that it 10x’s, 100x’s and that your account goes from $1,000 to $2 million in a matter of weeks. This is not how it works.
Trading is a profession, and here’s what I do. I like to focus on SRC profits. SRC means systematic, repeatable, and consistent. This is important for me as a trader. I’m not YOLO’ing it and putting everything on red.
I’m following my trading strategy because you know what? It’s not the bulls versus the bears when it comes to the market. Here is who is really fighting in the market: It’s the educated versus the clueless.
Those who know a thing or two about trading, who have a strategy, the right mindset and the right tools, those are the ones that are taking money from the clueless who just opened an account and say, “Oh, okay, what should I trade? Bing! Let’s do this.”
Robinhood has gamified trading, and they’re right now being scrutinized for this. They should stop gamifying it because trading is a profession.
How Do I Get Started With Trading?
If I haven’t scared you away just yet, here’s what I want you to do next.
Or you can watch videos I made about the two strategies I use.
One of them is explaining the “PowerX Strategy.“
The other one is explaining “The Wheel Strategy” in detail.