How to Start a Successful Trading Business

How to Start a Successful Trading Business | Coffee With Markus Episode 51

3 weeks ago on May 19th, I started a brand new trading account on TastyWorks with $20,000 Dollars.

In this trading account, I have been exclusively using the PowerX Optimizer system. The open P/L on this account is up OVER 25% in less than 1 month!

“how can I be profitable if i lose 50% of the time?”

I always stick to my trading plan and I limit the risk of any one trade to 2% of the entire account value. I manage the losing trades and let the winning trades ride!

In this video I’m going to show you the top 7 tools you need to start a SUCCESSFUL trading business.

There are 7 top tools needed to start:

1. You MUST have a good charting software.

I highly recommend TradingView’s Pro Version. This service costs $14.95 per month but is well worth it. Remember, starting your own trading business requires a modest investment into the infrastructure of your business. You can get signed up with TradingView here: https://bit.ly/2XMCXxY

Also for pro tips on how to set up TradingView Pro to be used with my Power X Optimizer system, check out this in-depth video here: https://bit.ly/2zkWe00

2. Find the right Broker for you! Finding the right Broker for you can be tricky, so I made a detailed video about selecting the right Broker, check it out here. If you’re trading stocks and options, I highly recommend TastyWorks. For a step by step tutorial on how to set up your TastyWorks account, check out my awesome and informative video here: https://youtu.be/VHIoAhV4s1g

3. Every trader needs a good trading strategy. If you want to see how I’m able to consistently make profits trading using the PowerX Strategy, take a look here: https://bit.ly/2wMQ7zW This is the very same strategy I’ve used to produce 25% gains in the last 30 days.

Establishing the right trading routine is one of the most important aspects of starting a successful trading business. We’ve developed a trading routine that can bring your trading to the next level. Visit this link for more info: https://bit.ly/3dJvLIg

4. You need a basic computer. Almost all brokers and trading software are cloud based, so you don’t need a seriously advanced computer system. Any computer that is less than 3 years old should be good enough. If you’d like to learn more about our favorite trading computer setup, please watch our video called “What’s The Best Trading Computer”: https://youtu.be/-R5DTolRliU

5. A second Monitor is a MUST have. The good news is that If you have a laptop, you already have one monitor! I highly recommend the ASUS MB169B+ 15.6" Full HD 1920x1080 IPS USB Portable Monitor found here on Amazon: https://amzn.to/30kGZiD

6. Newsletters! I prefer to read 3 different newsletters to stay informed. The news is terrible for getting non-biased information. For this reason I am recommending the following 3 newsletters:

Morning Brew: https://bit.ly/3f2bjCM
Seeking Alpha’s Wall Street Breakfast: https://bit.ly/3cKamgM
The Rockwell Trading Newsletter: https://bit.ly/2BNQ5u3

7. Trading Entity and Taxes. You may or may not need a trading entity. If set up correctly, you may be able to increase your profits by reducing your tax liability. Stay tuned for Wednesday’s Coffee With Markus for more information on this subject.
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✅ First, subscribe to my channel here so you never miss a new video: https://bit.ly/3aLKLDz
📈 Watch My Daily Trading Routine Here (that takes me less than 15 min/day): https://bit.ly/2ICZkgX
📕 Get a FREE Hardback Copy Of My New Book “The PowerX Strategy”: https://bit.ly/2wMQ7zW
💻 Need a broker? We prefer trading using tastyworks! Sign up here: https://bit.ly/3610gsk
🌍 Outside of the U.S.? Check out Interactive Brokers' amazing platform: https://bit.ly/2M2m6DN
☕️ Start your morning just like Markus, with the MorningBrew Newsletter: https://bit.ly/32Xs6Uu
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tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with Rockwell Trading Services, LLC whereby tastyworks pays compensation to Rockwell Trading Services, LLC to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Rockwell Trading Services, LLC by tastyworks and/or any of its affiliated companies. Neither tastyworks nor any of its affiliated companies is responsible for the privacy practices of Rockwell Trading Services, LLC or this website. tastyworks does not warrant the accuracy or content of the products or services offered by Rockwell Trading Services, LLC or this website. Rockwell Trading Services, LLC is independent and is not an affiliate of tastyworks.

Видео How to Start a Successful Trading Business канала Markus Heitkoetter