Casey Stubbs is a 9 ½ year United States Army Veteran and married father of nine. He is an entrepreneur, a leader in his local church, and is a successful business owner and trader. Casey is dedicated to helping people from all walks of life fulfill their financial dreams, while also achieving financial freedom. Helping others is at the heart of all that drives Casey on a daily basis. In this episode of How To Trade It, Casey shares six super simple steps to help you scale your account. You don’t want to miss it!@CaseyStubbs knows that most traders don’t start out with a large enough account to produce a consistent income, so he’s big on helping traders learn to scale their accounts quickly. Join us on this episode of How To Trade It to find out more!… Click To Tweet
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You’ll want to hear this episode if you are interested in…
- [00:35] Step 1…having a written plan
- [02:08] Step 2…mile markers and scale points
- [04:41] Step 3…utilizing a specific strategy
- [05:40] Learning how to use M.O.N.E.Y. to trade our A+ Set up Strategy
- [06:48] Step 4…having a review period
- [08:23] Step 5…consistency
- [12:17] Step 6…discipline
- [15:50] Our Forex Master Trader community funding options
The Importance of Having a Plan
A critical part of trading successfully is starting with a plan that you write out. This will be a valuable first step toward scaling your account. And unless you already have a decent-sized trading account ($50K or larger), you are going to NEED to scale your account. Simply put, that means taking your account and rapidly growing it to a predetermined amount. You can’t do this without a target in mind before you begin. You can’t reach a target without a mapped out plan to get there.
What’s Your Strategy?
You are going to be exponentially more successful if you use a simple, easy-to-follow trading strategy. Find one you like, and then stick with it. You want to outline the strategy and have all of your rules written out, so that you are able to identify if you are following the plan correctly. Without a strategic plan to follow, you will wander around aimlessly, and that’s a terrible way to trade.
Review, review, review
It’s not glamorous, but it sure is necessary. Every week, you need to sit down and review your trades. Ask specific questions, like, “Did I follow my rules? My risk management? How are my results? Is there something I need to tweek?” If you don’t have a successful week, do not just toss out your whole strategy. Make a small change, based on the answers to your questions, and implement that change over the following week. Review again the following week, and the next, and the next. Making one change at a time will allow you to see what is and what isn’t working.
Resources & People Mentioned
- Zero-to-a-Million Trading Strategy
- The Power of No in Trading (podcast episode regarding DISCIPLINE!)
- Funded Trading?
- Send questions, comments, and podcast ideas to: Business@TradingStrategyGuides.com
Connect With Casey Stubbs
- Website: https://caseystubbs.com
- YouTube: https://www.youtube.com/TradingStrategyGuides
- YouTube: https://www.youtube.com/caseystubbs
- Twitter: https://www.twitter.com/caseystubbs
- Facebook: https://www.facebook.com/TradingStrategyGuides
- LinkedIn: https://linkedin.com/in/caseystubbs
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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.