3 Ways To Know You'll Be A Successful Trader


 

1. You understand that losing is apart of trading

It's a fact, all traders lose money, and managing risk is just apart of the business. The key to success is how you react to a losing position. The best trader's in the world have suffered millions in losses and still managed to make a comeback. This is why structuring your trading system in a defensive manner is extremely important when it comes to staying in the game for the long run.



2. You're very picky about which patterns you trade

In the famous words of Gordon Gekko "greed is good". But only if you're sticking to your pre-planned strategy, and only if you're trading perfect setups with 99% confidence. Not all trades will move in your favor, but the key is planning and patience. The right time will definitely come, all you need to do is wait and watch like a hawk, then as soon as you see it, go big and play defense to manage risk.



3. You keep log of your trades and reflect back on performance

The biggest secret millionaire traders keep from you is that they all have a trading log, they all and I mean ALL maintain a trading journal as way of reflecting back on past trades, this allows them to correct course for future trades. This reflect and correct cycle compounds over time and the final result is a trader with natural instincts and discipline. Yes - this in fact is the secret. A trading journal is indicative of a solid trading system and a must have for anyone claiming success in the field of trading.



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