Variance in Your Trading Portfolio
By now, you have surely recognized some of the similarities between playing poker and day trading. Last night, while Joe McKeehen was putting on an absolute clinic, the similarities were never more prevalent.
In fact, if you want to learn how to grow a trading account, you should go back and watch how Joe McKeehen dominated the final table, collecting all the chips, $7.68 million and the WSOP Main Event Championship Bracelet in the process withy very little VARIANCE.
So how did he do it?
Simple, by avoiding variance.
Joe McKeehen entered the final table with the chip lead and never once relinquished it because he avoided playing big, over inflated pots. He was very systematic in his approach, utilizing pot control to make sure he was in command of the table at all times. He made constant small raises, taking down little pot after little pot. He was always on the upward trajectory, go back and watch the footage and you will realize just how quickly all his small gains add up.
McKeehen utilized a strategy that is preached every single day in the MOJO Day Trading Room. To build a trading account, it is not about making one big trade. That is not the path to success. Trading, like tournament poker, is a marathon not a sprint. Joe McKeehen didn’t feel the need to go all in every hand, because he knew that is not how you win a poker tournament, just how it is not how you grow a trading account.
Take ProTrader Alan for example. He has not had a losing trading day since November of 2014. There is only one way to achieve this, consistent and controlled profit. Every day, ProTrader Alan enters the MOJO Day Trading Room and seeks to add 1%-5% to his account.
He doesn’t take huge risks and gambles that could drastically affect his account. Every single day he is utilizing the same system, day in, day out. He is buying the same way, and selling the same way. There is only so many shares you can trade per trade play and with that formula well balanced - winning becomes much easier. Exactly like how Joe McKeehen built his championship winning chip stack through small and steady gains. Both Alan and McKeehen are always on the upward trajectory and that is why both of these great men experience such great success.
So, if you want to grow a trading account you need to focus on avoiding variance. You don’t want your bankroll to be moving up and down dramatically every single day. There is a specific reason ProTrader Mike has designed the daily goal of his team of ProTraders to be adding 1%-5% to their accounts per day. ProTrader Mike has 20+ years’ experience in the market, and he is well aware of the path to success. He knows that you don’t make a career in the stock market from one lucky trade. You make a living in the stock market by making positive expectation trades, such as the MOJO HEINZ Trade Play, day in and day out. It is the path that has worked for ProTrader Mike, ProTrader Alan and ProTrader Colin. All of these traders, like Joe McKeehen, have the discipline, self-control, and faith in the system to go about their business in a methodical way each and every day.
Understanding More About Variance > Read Here https://www.partypoker.com/how-to-play/school/cash-games/variance.html
To see how the MOJO ProTraders grew their accounts today, make sure to watch the 11/11 MOJO Day Trading Video Recap: