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You MUST Understand: Analyze vs. Apply

This is a concept that many people need to hear, particularly those who are new traders. Reflecting back on when I first started to trade, this concept is one I certainly wish someone had brought to my attention and explained. So let’s get to it.

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Transcript:

Analyze verse apply.Boy oh boy.I think a lot of people need to hear this.I needed to hear it when I first got started.(dramatic theme sound)I see this all the time.I fell into it.I get it.It's not like it's a situation where you look at that personand be like, wow, you're a total idiot.That makes no sense.No, it does make sense.It makes sense until you reallykind of start to think about it,and that's the idea behind this video.But yeah, like I said in the intro,analyze verse apply.There's a massive, massive difference out therewhen it comes to trading,but when it comes to a whole lot of things.I mean, I can understand just the game of football,where if you live overseas or in the United States,the game of soccer.I understand that, from an analyzation perspective,okay, you gotta get the ball down the field,and then you have to kick the ball into the net.Okay, yeah, that's analyzing the situation.That's what needs to happen.But to actually go out on the fieldand to get the ball down the fieldto apply that analyzation,there's a whole lot more that goes into it, right?There's things that need to occur.So sure, you could be sitting there reading a book,watching a YouTube video that's teaching youthe rules of soccer, how to analyze the field,how to analyze the dynamics.Like I said, kick the ball down the field,and then kick the ball into the net.And while you get the ball down the field,you can't use your hands unless you're the goalie,the goal keeper.Alright, that's great.You're all analyzing it.That's the situation.That's how things kind of work.Those are the rules.That's what the goal box.That's what that represents.But you're analyzing the situation.But again, okay, now go into the actual process of applyingall those rules and all those dynamics,and it's a whole nother ball game.Don't get me wrong, do you know,need to know how to analyze?Absolutely, but there's more to analyzing somethingthan just understanding all the rules.And in the world of trading,and where I see this all the time,is people are like, Clay, yeah.I get it, man.That's called a candlestick.I know all the dynamics of the candlestick.I know what each point represents.I get it.Clay, yeah.I get that that is a resistance.I understand that's a support.Yep, I mean.So the summary of all this is,yeah, I know how to read a chart.And I'm not doubting those people.I'm not doubting you.You may understand candlesticks.You may understand resistant supports.Moving averages, for example.So yeah, yeah, you probably know how to read a chart.But what about when it comes to applying the chart?That's a whole nother ball game.And that's why, just because if you read a bookon technical analysis charts,or I'll even be honest, even if you take my basic course,Robotic Trading, which is the foundation of chartingand making sure you truly know how to read one.Just because you take that one coursedoes not mean that you're gonna readygo out there and start trading.Because when you start trading,you need to know how to actually apply the chart itself.Apply it how?Well, within one word, you need to now how tolook at things in regards to risk,making sure you're making wise decisions.Or in other words, is the risk I'm takingworth the potential reward?And a chart is an awesome, awesome tool to do that.Another thing, and this will shock some people.When you apply, you need to not predict.There's no such thing as a crystal ball.But it is gonna happen in terms of manage.As I always say, and I think I heard it from somebody,so I could be plagiarizing this.I apologize to the source.But charts are not used to predict.Charts are used to manage the unknown.Well, okay, manage the unknown.What exactly does that mean?Exactly, that's applying.Yeah, you can read a chart.Yeah, you know what a candlestick is.There's more to it though.You need to be able to go out thereand actually get the ball down the field.You need to be actually able to kick the ball into the net.And that's where things become a lot skill-oriented,I should say.And that's why, again, reading a book,watching a YouTube video, buying just a foundational coursein how to read charts is not all of a suddengonna turn you into a trader.Because while you learn how to analyze things,to actually apply it, there's a whole lot morethat goes into it.Also, just the whole mental component of things.And I would argue that part of actually taking the chartand applying it is doing so in a waythat's going to mentally keep you at ease.Again, how do you do that?Well, there's a lot that goes into all of this.This is why it drives me nuts when peoplewatch like a 45 minute video,and they're like, okay, that's all it takes.Now I know what a candlestick is.I know what a chart is.I'm ready to trade.I know how to open up my broker and put in a buy order.So there we go.I know how to trade.If only it were that easy.And I mean, if I was smart, what I should be doingis just telling you that that is all it takes.All you gotta do is learn how to read this stuff,and hit Buy My Course, and then you're gonna be good to go.You're gonna be ready to trade.But like I said, you need to be able to apply,and applying things are a whole other animal.So, and the results of all this,when I try to tell people this,and my hidden motive here is now I have a videothat I can send these people that kind of fall into this.But no, Clay, I got it all figured out.I don't need anything 'cause I know how to read a chart.And now I could have sent 'em this.But what I usually find out with people that decide,you know what, I'm gonna trust ya.I am gonna get the course.They say, wow.There's a lot more to it than I thought.Or I thought I knew what a chart was,but wow, I was missing out on a lot of things.Or wow, yeah, I mean, I did have,I did understand how to use or how to read a chart,but as far as how to use a chart.So that's another way.Read verse use.Yeah, a lot of people out there can read a chart.They're actually not that complicatedif you're in a well-structured way,but using them, that's a whole nother ball game.And a lot of people say, well, yeah.Wow Clay.Thank you.I'm glad because I knew how to read a chart,but using a chart, I had absolutely no idea.And I mean, it's not that hard.You don't have to take my word for it.Just start to look around, and you'll see people out there.Especially if you truly know how to read a chart.But then you go, and you look, and you're thinking,wow, that's not actually being usedin any sort of logical manner at all.And people way over-simplify thingsand get themselves in trouble,and things spin out of control in a hurry.So just kinda be honest, be open with yourself.And I'm not trying to take away.If you know how to read a chart,truly read a chart, awesome.You've taken a big step.That's great.But just realize that there is more to it.Because, yeah, sure you understand the rulesand the general concepts of you needing to get the balldown the field then kick it in the net.But at the end of the day,you still gotta get out on that field,and you still gotta be able to get the ball down thereand kick it in the net.So keep that in mind as you go through your educationaland trading journey.Just 'cause you watch a couple videos on YouTube,and you know what a candlestick is,that's only gonna take you so far.If you are out there trading alone currently,and maybe are in the market looking for a community to jointo assist you in your trading,or to just help you give you another set of eyeballs,then I do have a private trading communitywhere you can trade alongside meand other experienced traders.So what you see popping up on the screen right nowis both an information link.So if you click on the inner circle one,that is going to take you to the pagewhere I explain all the detailsof what exactly come with the community,both the chat room and the newsletter.And then the other image that has popped upis a behind the scenes tourwhere you can see exactly what is going to be containedwithin the community.I take you though, like I said,a behind the scenes tour of everything.And that way you'll know preciselywhat you are getting when you join.So definitely check that stuff out if you are interestedand thinking about wanting to join a community,and let me know if you have any questions.

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How to Kill Your Stress, Fear, and Frustration as a Trader