– What's up, traders! Welcome back to Bangkok.
Today I want to share with you the best for trading tools.
Tools that I use on a daily basis.
Things that I think willmake a big difference for you and I wanna share those right now.
If you're looking for thingsto growing things faster and get results faster, these I really believe are gonna help.
So, let's jump right into it.
(swipe) (swipe) So when I first started to trade in 2013, I thought that I didn't need any tools, that I could be able to doit all, everything for free and not spending anymoney on tools or software with which become better.
And I started to realize that if I want to get theresults I wanted to get which meant going fasterto reach my goals, I would need to invest in some things.
I would need to buy some, maybe software, some programs and things to become better.
And then I went through that phase where I was just spending onthings that I wanted to get and most of them really helped, but I kind of realized thatnot everything will help a lot.
So, you gotta figure outwhat you spend money on because that's gonna be aninvestment like a business.
What gives you money? What gives you betterresults and what doesn't? And then cut what doesn't and only spend money on thingsthat will give you results and that will help you become better.
So, tools I'll share are the ones that I've seen the best results with.
They really helped me become better and don't forget thatcan be the same for you.
So, the very first thing is I always have this with me, a notebook.
Now, notebooks are huge.
If you don't have anotebook right now with you and you cannot track how you perform and what progress you've made and what lessons you've got, what you tried thatworked, that didn't work, then you're missing out on a big thing.
A notebook is really helpful because you can kind of track what you've done and what you've been working on.
And that gives you a really good clue of how you're improving and if you happen to havea coach leader in trading showing him or her your notebook and he's gonna know, or she's gonna know exactly what you've been working on and what result you gotand what didn't work.
And then it's really easy to correct and to tweak what you've done when you've kept track ofeverything in your notebook.
So, that's the very first thing.
I recommend you invest in a good notebook.
I have this brand here thatI cannot pronounce the name it's gonna be poppingup here on the screen, but in any case just get a good notebook where you can write in and track and make sure to get your lessons in.
Make sure to get your, thethings you come across in, and the ideas you havealso in for strategies.
You could be hearing a podcast one thing and you have this cool strategy idea, but then you don't capture it and you forget like most people.
Well, that's where youwant to have a notebook to write things down and be sure that you will follow up on what you think about and what you come across.
So, that's the very first thing and that's not costing that much.
That's pretty cheap for most people, okay? Second thing is invest in agood backtesting software.
Now, there are a few options.
I spent probably close to$1, 000 in backtesting software and things.
The first thing I got wasForexTester and that worked fine.
I got two versions of itso the two and the three.
They worked okay.
They were not the best in my opinion.
It's just kind of too hard, too complicated to use.
And so, then I got a different software and I came across, not that long ago, maybe like a year anda half, two years ago, software or plugin for MT4 called Soft4Fx and this is what I've been using for now.
I'll put below this videothe review of the software, how it works.
There are some free options, of course, but you gotta be goingoff what you prefer.
What works best for you and in my case I don't spending money on something that works well for me and that I can use and get results with.
So, that's been what I'vebeen using for the past, roughly, year or so.
So, that's perfect.
And just find out whichone works best for you and use that one and just go with that and don't change too often.
That's the key.
Third thing is get yourfavorite charting platform.
Now, this can be anything.
For me it's TradingView.
I've been using them for a very long time and I had to pay for them.
I had to get the proplusversion at some point, but no matter what justpick the version you prefer as long as you like it because if you're notcomfortable right now with your charts, eventhough they're free, you won't get the results you want.
So, get something, evenif you have to pay for it, get something that's gonna work for you and that's gonna be helpful, that has the feature you want to have, that allows you to keep track of things and to become better.
So, get the one you want.
You can try many differentoptions first, which I did also.
I've tried TradingView, MT4of course, Fxtrade by OANDA.
I've tried FreeStockChart.
comor something of the sort.
That worked not that good, but can go wherever you want and you can just try and see if it works and then go with the one you want and get the features you need to be able to trade properly.
Okay, that's pretty big.
You just cannot be cheap.
There's no way to be cheap in trading if you want to get big results.
So, that's my opinion.
Fourth thing you need is a good VPS and that's gonna beespecially right if you are in the Algo Trader.
If you do it manuallyyou don't really need it, but if you are trading with algos please get the VPS and that'sgonna save you a lot of stress and worries and problems.
So, when I started to trade algos, myself, and when I started to havefear of running on MT4.
I used to just have everythingon my computer back home or I would keep my computerrunning all the time to get the algo to run and I found this was the worst thing ever.
This is the worst way to trade algos for the simple reason that you never know what's gonna happen with your computer.
It could be turned offbecause of a power outage or whatever happens.
You can never really relyon it and that's the issue.
So, if you want to rely on an algo to run get it on a different computer.
Plus, it's so annoyingto have your computer open all the time becauseyou cannot close it or use it for something else.
You have to leave it thereopen and that's a mess.
So, if you have one of backupwhich you run your algos on, that could work, but I wouldstill invest in a good VPS.
And I don't pay much for my VPS.
It's like $15 a month.
I'll put the link below againfor the VPS provider I use, but you can use whatever you want as long as you have oneyou can run the algos on and I found this to be especially good with, now because I use a MAC, when I travel, way easier to be able to straight on a differentcomputer that's really fast and you can get all your stuff.
You can even backtest there on MT4.
You can do whatever you want.
As for your computer, you can connect to it, and that just saves you a lot of time.
Plus, when you have a reallybad internet connection, you can login to your computer there and just do your work there.
So, connect that computerand then that's gonna be having a much faster internet connection and that's been really good.
So, I could download a regular video here on my laptop, which cantake probably like an hour, or thirty minutes at least.
Or, I could go on my VPSand download it there, do my work there, and that's gonna take me probably five minutes which is crazy.
So, if you don't have goodinternet, connect to your VPS.
They have a good connectionif they're a good provider and that's gonna save you a lot of time with whatever you have to do online or whatever you have to do to backtesting that you gotta do on your MAC.
That's gonna be really helpful.
So, I really love this.
It's been awesome.
And I've been pushingthis idea for a long time of getting a VPS, but Idefinitely see the need right now and that's awesome.
Fifth thing is invest or getsome sort of trading journal.
Whichever you prefer.
I have a trading journalthat's pretty much free.
So, I use a site calledTrello and my Fxbook, as well as TradingView.
So, I cannot pay for TradingView, but it's still helpful.
And that works pretty well.
So, you wanna getwhatever tool you prefer.
A good tool for that is Edgewonk which I'll put the link below if you guys want to checkit out with a discount code.
Edgewonk is by the guys from Tradeciety which I may think there again, but they have a really good software if you want to be ableto track your trades and track how you can perform better.
I've seen a lot ofpeople use that software and they get some good results with it.
You can check it out andsee if it works for you, but in all cases pick theone that works for you and then use it, okay.
That's gonna be reallyessential to move forward.
And now for number six, it's a very small item.
So, I got this kind ofstand for a cell phone a few months ago which is typically made to put a cell phone on andkind of see your cell phone which I find stupid, but I use this now for my notebook and I put my notebookon this so I can see it when I trade.
I can see my stats.
I can see whatever I wanna see and I can keep track of things.
So, that's been, for me, really helpful.
You can even put your tradingplan on this if you want.
I think it's better thanhaving it on a table and lying there and notlooking at it properly.
So, I think that's pretty helpful.
I'll put the link below for that as well.
Really simple thing, butif you want to be able to see your stats orjournal when you trade, or whatever you want to look at, that's really helpful.
Kind of clear to see, and youhave it right in front of you which is really helpful as well.
So, quick tool, thing, equipment here, but that's been, for me, quite helpful.
And number seven is something I've been trying to go without for a long time.
Now, every country I go to these days I get a SIM card because I use robot, I use some information, I use some script, I get some alerts, and these alerts, I need to see them in realtime, like, when they happen.
And I see now the power ofhaving a SIM card with me to be able to know where I'm going and get internet connection with it.
And so, that's been pretty helpful.
So, I would recommend this ifyou don't want to waste time and if you want to be ableto put the maximum effort on what you have to work on in trading and be able to enjoy theplace you're in anyway.
Anyway, I hope that you gotsome value from this video and I hope that you can applysome things you heard today.
Those are tools thatI use on a daily basis and I would never go without them.
Links are going to be below for everything I mentioned today and the only thing I'venot talked about so far is having also a good program.
Be able to learn andgrow at the same time.
If you want to check it outwe have an awesome academy which you can find thedescription as well.
I want to hear your thoughts below.
So, comment below withyour takeaways on this.
Subscribe if it's not done yet.
Here are a few comments.
I appreciate you guys alwaysfor leaving your comments.
And I'll catch you back here in Bangkok for another video tomorrow.
Ciao.
(upbeat music).
