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Rick Saddler is the Owner and CEO of Hit and Run Candlesticks where their mission is to provide a simple and mechanical way to trading stocks. (They) strive to find stocks that are poised for a move in a profitable direction and to cycle profits from the market to your pocket as the stock moves.  Rick understands that trading is not as simple as it sounds. There is a significant learning curve and numerous gurus to try to sell you the ‘Holy Grail.’  You must learn to become comfortable with taking small losses; it’s the cost of doing business. Continued education and money management are essential to your success, and failure to invest in your education can have dire consequences. In this episode of How To Trade It, Rick will drop some great trading nuggets to help you on your road to success. You don’t want to miss it! @Rick Saddler knows that you will lose some money and you will make some mistakes, but it’s all part of the process of learning to trade. Join us on this episode of How To Trade It to find out more! #PriceAction #Candlesticks #TradingEducation… Click To Tweet

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You’ll want to hear this episode if you are interested in…

  • [06:48] Transitioning to full-time trading
  • [09:35] Paying the price to live the life
  • [14:12] Rick’s BIG turn around
  • [17:42] Learning NOT to trade just because you have an account
  • [20:55] Rick’s favorite market and system to trade it
  • [27:33] Magic indicators
  • [30:30] The importance of trading rules
  • [35:49] Trading Rooms and other resources

Full-Time Trading

Traders are sometimes driven to full-time status because they are tired of having a boss.  And while you won’t have a boss, you will often work harder than when you did have a boss, so it’s important to consider that before quitting your 9 to 5. You will spend a lot of time looking at charts, and honestly need to devote a considerable amount of time to education in general.  You will lose some money and you will make some mistakes, but it’s all part of the process.       

Don’t Trade Simply Because You Have An Account 

When Rick decided to get serious about trading, there were a few things that he recognized. For starters, it wasn’t going to be easy, or fast. He learned to build a watchlist and then let the trades come to him. You can’t trade, just for the sake of trading…or because you have six monitors!   It’s important to find a system that works for you.  That takes time to discover, so don’t give up just because something doesn’t work immediately.  

Magic Indicators

Guess what? They don’t exist!  The “magic” happens when you learn how to use your indicators to make a profit.  You need to look at price action, or find a specific strategy that will work for you.  You must know and understand what kind of trader you are and in what kind of market you are able to thrive.  Ultimately, the “Holy Grail” in trading isn’t an indicator, it’s YOU!

Resources & People Mentioned

Connect with Rick Saddler

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Disclaimer: Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment. Therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.