I asked 100+ successful traders what their most important trading principle is.
Here are the 7 most common replies:
Here are the 7 most common replies:
1. Have a powerful trading system
- Don't buy at resistance, don't sell at support
- Stop focusing on indicators, start focusing on candlesticks, orders, liquidity
Find a powerful edge and execute it until people start calling you lucky.
- Don't buy at resistance, don't sell at support
- Stop focusing on indicators, start focusing on candlesticks, orders, liquidity
Find a powerful edge and execute it until people start calling you lucky.
2. Addiction to repetition
1 system
1 plan to follow
Execution over and over again for 5-10 years
A trader addicted to repetition is a powerful trader.
1 system
1 plan to follow
Execution over and over again for 5-10 years
A trader addicted to repetition is a powerful trader.
3. Cut losses fast
- Find quicker setups invalidation
- If you can reduce your losses you will improve RRR and your trading success
It doesn't matter how many wins and losses, but how much you win and how much you lose.
- Find quicker setups invalidation
- If you can reduce your losses you will improve RRR and your trading success
It doesn't matter how many wins and losses, but how much you win and how much you lose.
4. Control your risk
- Trying to 3x your account monthly will kill you
- Trying to gain 3/6% monthly will make you a top 1%
- If you have great risk management skills you will never die in trading, which is the #1 goal
Risk management is the most underrated trading skill.
- Trying to 3x your account monthly will kill you
- Trying to gain 3/6% monthly will make you a top 1%
- If you have great risk management skills you will never die in trading, which is the #1 goal
Risk management is the most underrated trading skill.
5. Your mindset is your best trading asset
- Discipline will make you win
- Confidence will make you win big
- Consistency will make you win the game
Trading is 90% psychology.
- Discipline will make you win
- Confidence will make you win big
- Consistency will make you win the game
Trading is 90% psychology.
6. Long term vision
- You can't become a successful trader in 30 days
- Most traders give up in 6 months, but you'll learn new things every day
- If you can endure, time and experience will compound money and skills 100x
Be patient. Great things take time. Don't give up.
- You can't become a successful trader in 30 days
- Most traders give up in 6 months, but you'll learn new things every day
- If you can endure, time and experience will compound money and skills 100x
Be patient. Great things take time. Don't give up.
7. Believing in yourself
Trading is the most competitive business in the world.
It involves self-doubt, pain, emotional fights, early days, late nights, impatience, failures.
You won't succeed in 1 or 30 days.
If it were easy, everyone would do it.
Trading is the most competitive business in the world.
It involves self-doubt, pain, emotional fights, early days, late nights, impatience, failures.
You won't succeed in 1 or 30 days.
If it were easy, everyone would do it.
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