The last decade has been a whirlwind of learning, growing, and earning for entrepreneur and trader Christian Jewkes. He began his career in the industry of network marketing where he built multimillion-dollar sales teams and further applied his experience as he ventured off into being a marketing executive. Since then, Christian decided to start learning about forex trading after he witnessed several friends and business partners of his make astronomical amounts of money from the markets. His 3 years of learning has led him and countless others to an incredible amount of success trading the markets and he’s learned a cohesive set of simple principles to stick by that helps keep him profitable in the long run.
Aside from his success in business, Christian became most inspired by truth-seeking and studying mentors like Robert Kiyosaki, who is the author of Rich Dad, Poor Dad, the best selling personal finance book of all time.
“Self-education has taught me to listen to people who have what I want and who have been where I am.” -Christian
It isn’t a secret that a lot of people have struggled to find a recession-proof financial plan during today’s current economic climate. Retail trading has exploded and been a solution for many that are working from home. Christian has partnered with the largest trading academy in the world and now leads an organization of a thousand traders globally.
Here are his top 7 tips for traders that are looking to jumpstart their trading success:
- Invest in yourself before you invest in the market. Invest in your education and your mindset before you put money into the markets. Trading is 90% psychology, 10% about skills and fundamentals.
- Before you enter any trade always have the goal of the trade written down. Know your outcome ahead of time. If you don’t, you’ll end up either getting too greedy or too apprehensive. When your emotions rule your decision making, you’ll always be set up for failure long term.
- Trade at the same time, same pair, and go for the same result. Mastery requires clarity. Mastery also requires discipline and getting to know the market. When you focus on one pair, you’ll eventually know how to feel the pair move and breathe.
- Put yourself in low-risk, high-reward trades. If you’re risking a dollar to get a dollar, you have to win more than 50% of your trades to be a profitable trader. If you’re risking a dollar to get two dollars, you know only need to win over 33% of your trades to become a profitable trader. Christian recommends at least a 1:3 risk to reward ratio.
- Less is more. 2-5 quality trades per week are better than 20-30 trades per week that are purely guesswork or reactionary trades.
- Track all trades with a trading journal and reflect weekly on the past trades. If you fail to plan, you plan to fail. Tracking your progress and your success is integral to making sure you set yourself up for success long term. It’ll help you avoid making the same mistakes over and over again.
- Have an accountability partner. Trading can be lonely so find a community to push you to stay disciplined and consistent. Christian believes that having an accountability partner has been the most important rule that he’s stuck by. It gives him a mental edge and helps him feel that he’s not alone.
“My key to creating consistent results has been the environment and association of other great investors I surround myself with.” -Christian
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