Joe DiNapoli Way of Success in Trading

Joe DiNapoli is one of the seasoned traders who managed to achieve success in trading. His success in trading cannot be separated from hard work and a strong desire to learn trading despite being faced with various kinds of obstacles.

A brief introduction

Joe DiNapoli has been actively involved in the financial markets for the past 30 years. His good track record in the financial markets made him a professional and well-known trader. Not only that, but he is also now actively writing and becoming a famous speaker. He shares his knowledge as a certified analyst through training in various parts of the world, from Europe, Asia, and the Middle East, to South Africa.

He also shares his knowledge of trading in his book entitled “Trading with DiNapoli Levels” which discusses his point of view on technical analysis. This book purposely helps readers to learn more about market timing.

Joe DiNapoli likes to trade in the futures market, both stocks, stock indices, commodities, to forex. He said, all these instruments are interrelated with each other, so this interrelation can be used to gain an advantage.

He was also a speaker at the Las Vegas Futures Symposium International with Jake Bernstein and Larry Williams in 1986, which was greeted with enthusiasm by hundreds of traders who greeted him. Thanks to the enthusiasm of the traders, he never gets tired of sharing his knowledge, either through workshops or through his books.

Joe DiNapoli Basic Trading Strategy

Joe DiNapoli is a technical-based trader. Almost all trading activities use lagging and leading indicators. Lagging indicators are useful for determining the direction of the trend while leading indicators are useful for determining trading positions.

The lagging indicators he uses are MACD and Stochastic which are also added to the Displaced Moving Average (DMA). After he managed to find the direction of the trend with a lagging indicator, then he looked for an entry position by analyzing the Fibonacci indicator which acts as a leading indicator.

According to Joe DiNapoli, trading success is not judged by how much we develop new indicators, but by how hard we study the existing indicators and optimize them to be more effective.

Things to pay attention to according to Joe DiNapoli

1. Your character

Joe DiNapoli once said, the indicators of a trader’s success are different for everyone. Their character and traits may influence how they think and what they would do. For example their grit. A trader who is actively learning to trade surely will achieve success faster than a trader who is not active.

Joe also argues, that being a successful trader is not just about all learning things, but also a tough and strong will to face the market. The trader’s journey to success is not smooth sailing. A market is a place where depression can easily haunt the traders. Therefore, we need to level up our mental strength to face the market.

2. Mindset

According to Joe, there are many misunderstandings about trading. Some traders are more afraid of not making a profit in trading. The fear that should be owned is the fear of not being able to maintain capital.

When a trader is afraid of not making a profit, his mindset will continue to be greedy and look for ways to make a profit. It carries emotions that can mess up any trading plan.

Therefore, the mindset of maintaining capital is very important for traders. A trader should be more careful in trading and opening positions based on careful consideration.

3. Trusted Mentor

Joe argues that it is very important for a beginner to have a mentor in trading. Look for a reliable mentor who can explain trading knowledge well. Of course, you have to be selective in finding a mentor. Don’t let yourself fall into the cycle of deception. With a reliable and experienced mentor, novice traders will be able to absorb their knowledge firsthand.