Trading Posts

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Trade60 - Building Good Trading Habits

Trade60: The Ultimate 2024 Challenge for Trading Success

Are you ready to take your trading game to the next level in 2024? Trade60 is the challenge you've been waiting for! Over the course of 60 days, you'll develop the essential habits of successful traders and build a strong foundation for long-term success.

The Four Pillars of Trade60:

1. Hydration - Fueling Your Success:

Trade60 Rule: Drink a minimum of half a gallon of water daily (64 ounces).

Importance to Trading: Staying hydrated is not only crucial for overall health but also impacts cognitive function. As a trader, mental sharpness is key, and dehydration can impair decision-making abilities. By prioritizing hydration, you ensure that your mind is in its optimal state for analyzing markets and making strategic trades.

2. Movement - Energize Your Body:

Trade60 Rule: Engage in at least 45 minutes of movement daily (a workout or a walk).

Importance to Trading: Physical activity has been linked to...

Setting 2024 Goals

Crafting a Resilient Path: Insights from Episodes 58 and 59

As we usher in the end of the year, our recent podcast episodes have delved deep into the art of setting and achieving goals, providing a roadmap for those seeking purpose and intention as they navigate the journey ahead. In this blog post, we'll explore the highlights from Episodes 58 and 59, which focus on trading through the holidays and culminate in a powerful discussion on ending the year with goals and intentions.

Episode 58: Trading Through the Holidays - Missing Out on 1.28%

In Episode 58, we examined the impact of trading through the holiday season, specifically addressing the consequences of missing out on a 1.28% gain. The discussion set the stage for a profound exploration of tackling goals logically, prompting Reid to pose a crucial question to Glenn: How does one go about it?

Framework of Setting Goals: Episode 59 - Ending the Year with Goals and Intentions (Part 2)

1. Set Goals with ...

Trading Through The Holidays

Trading Environment During the Holidays: Sacrifice, Discipline, and Seasonal Strategies

As the holiday season approaches, the financial markets often witness a shift in dynamics. While many people tend to slow down and relax, successful traders know that the markets never take a break. In this blog post, we'll explore the importance of discipline, sacrifice, and strategic planning during the holidays, shedding light on the seasonal trends in the stock market.

Setting Goals and Making Sacrifices: Setting trading goals is the first step towards success. However, the crucial question to ask yourself is, "What are you willing to give up to achieve these goals?" The holiday season, with its distractions and festivities, can be a challenging time for traders. It's essential to maintain focus and avoid the common tendency to slack off.

High Tolerance for Success: Drawing a parallel with athletes, traders must adopt a mindset of high performance and low tolerance for lazines...

Gambling Trader Or Trading With Risk Management?

In the thrilling world of trading, two distinct personas often emerge: The Gambler and The Risk Manager. These two characters couldn't be more different in their approach to financial markets. While The Gambler chases the next big win with wild abandon, The Risk Manager takes a methodical and calculated path to success. In this blog post, we'll explore the stark differences between these two trading personas and why, in the end, it's the Risk Manager who usually comes out on top.

The Gambler: YOLO and What If?

The Gambler is all about the excitement of trading. They embrace the "You Only Live Once" (YOLO) mentality, constantly looking for the next big play that could turn their fortunes overnight. They're often blinded by the allure of big profits and only see the positive side of the equation – the "What If." While optimism is essential in trading, The Gambler tends to disregard risk and throw caution to the wind.

The Risk Manager: Calculated and Neutral

On the...

Proactive VS Reactive Trading Decisions

Proactive vs. Reactive Trading Decisions: Striking the Balance for Success

Trading in the financial markets is a dynamic and challenging endeavor that demands a delicate balance between proactive and reactive decision-making. Proactive decisions involve creating or controlling a situation by causing something to happen, while reactive decisions involve responding to a situation as it unfolds. In the world of trading, the choice between these two approaches can have a significant impact on a trader's success and longevity in the market.

Proactive Trading: The Path to Preparedness

Proactive trading is akin to being prepared for battle. It involves a series of deliberate actions and practices that traders undertake before they even think about entering the market. Here's what proactive trading looks like:

Maintaining a Calm State of Mind: Successful traders start by clearing their minds of distractions and emotional turbulence. They understand that emotional deci...

Is $1,000,000 Enough To Retire?

The age old question "how much will you need at retirement" or how much is the magical number for you to hang up your comfort zone?

In today's day and age, making $100,000 a year is decent. Depending on lifestyle and job titles, obtaining $1,000,000 is a fantasy. However, we ask ourselves, is it enough to actually retire?

The short answer is no. The long answer is yes.

If the current state of our economy is foretelling, then we can safely assume $1,000,000 probably isn't the best to life comfortable, at least in the state of Hawai'i. Homes are at a median of $635,000 in 2023. Groceries and other living expenses have only increased the financial burden.

At Hawai'i Trading Academy, one of our pillars we emphasize is Risk, or Risk management. In order to lower risk and diversify in a broaden range of markets, the longer you can make one dollar go. If we want to stretch the power of our dollar, in this scenario, 1 million dollars to live off in retirement,...

048 | Interview With An NFT Trader

In this episode, we are sitting with our Guest Chris Matrecito, a former Mutant Ape owner but still holds digital land in "The Otherside" by Yuga Labs, famously known for their Bored Ape Yacht Club project.Chris walks us through how he got started in Crypto/NFT Market, scams, and future endeavors that hopefully will be propelled with Cryptocurrencies. We talk Bitcoin, Ethereum, Crypto In Hawaii and how we trade crypto in Hawai'i, the future of money and much more on this episode. This is our first interview and first time we learn about a Trader involved with NFT's. Just goes to show how there is so much opportunity out there! We just have to be disciplined and do the work. The harder we work, the luckier we will get!

Resources mention in this episode:

Hawaii Crypto Beta Test: https://www.htdc.org/digital-currency-innovation-lab/

Where you can look at the NFT Market: Opensea.com

NFT tool Chris uses: https://nftgo.io/

For more info, you can find Chris on:

IG: https://www.instagram...

047 | Are Funding Firms Scams?

Are Funding Firms Scams? In recent light we have heard of funding firms being put in public light how the owners are shady or lack Morales. Other traders don't care as long as they are paid out by the company. My Forex Funds (MFF) and Surge Trader have been under the lime light for frauding investors. More recently, MFF owner has been accused of using client funds to lead is lavish lifestyle.

It begs the question if we, as day traders, should be working with funding firms? In our recent Edge Up podcast, Reid and Glenn share their personal experience with funding firms and the lessons they have learned through all these funding firms popping up and disappearing just as fast as they came.

Aloha! We are Glenn & Reid, founders of Hawai'i Trading Academy.

Our mission: Cultivate & sustain profitable traders.

Our ethos: Be honest and transparent as we build our content off of what we consider three pillars of successful trading: Risk Management, Edge, an...

Patience = Profits

It would be a lie if the monetary aspect of trading wasn't at the foremost of our mind when we got into trading.

In fact, profits is what drives so many people into the market with its endless, lucrative possibilities.

However,

New traders have a misconception that they can become a full-time trader in a year or less. Although possible, it is more than likely not probable of happening. Please read: IT TAKES TIME TO BE PROFITABLE.

Patience is a key aspect of trading.

You need to be patient in a live position.

You need to be patient before you place a trade.

You need patience with yourself and the systems you have in place when you take a loss.

Some of our best trades have occurred when we just let go of hoping and expecting something to happen. We walked away from our computers and let the trade run its course.

During a month long travel, I was trading at my best. In two back to back positions on NZDUSD & EURGBP, I was able to bank about 3% to close the week. It wouldn't have ...

7 Habits For Success

7 HABITS FOR SUCCESS

Success - the favorable or prosperous termination of attempts or endeavors; the accomplishment of one's goals.

Show up. Showing up when you don’t want to. Consistency. When you aren’t motivated. Showing up is sometimes the hard thing to do but there is no reward in easy work. No fulfillment. Showing up is like building muscle. Build that mental resilience. If you don’t use it and consistently develop and push that mental muscle, you will lose it.
Water your garden (mind). Pour into yourself with books and self development. There’s so much resources out there thanks to technology, there’s almost no excuse to learn something new. Ever wonder why successful people continue to learn, read, meet new people? Because they know they can still play the game and still find ways to wins.
Own your decisions. Own your successes, but in the same breathe, own your mistakes/failures as well. Every choice has risks and consequences. Take responsibility even when it isn’

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