Successful people act and think differently.
Successful traders are elite in terms of their skills and also in terms of the way that they approach their craft, in their mindset.
Whilst modelling professional traders I noticed that all successful traders had 10 things in common. These are the 10 habits of highly successful traders.
I incorporated them into my own trading and they are things that you should consider for your own trading too.
Backtesting means extensive testing of all aspects of a trading system over a long period of time.
Day Traders – Go back over 100,000 price periods on your chosen timeframe. For a 1 minute chart, this equates to about […]
We are already on to component number eight to successful trading. Successful traders Part 8 – Keep accurate and detailed records of your trades.
This is the eighth habit of highly successful traders.
We are going to keep it simple today.
My message today (meant with the best possible intention), is: “Keep paper/digital records of every […]
Learn how the Institutions trade to beat them at their game – BIG BANKS, HEDGE FUNDS and your broker!
This is part 7 of our series – The 10 Essential Components to Successful Trading.
Institutions mostly take a longer term trading perspective than individuals. They pay attention to fundamental news, company finances, profit and loss equations […]
The key to understanding price charts is to think in terms of buyers and sellers. Let’s begin to understand what VALUE is in the context of trading – read the bigger picture in order to measure buying and selling pressure
When is a good time to buy anything? When the price is low, right? When is […]
Learn to accept losses as a cost of doing business – this is the way to manage your emotions in trading.
Traders tend to get stuck in the short-term. Short-term wins giving them elation and short-term losses leaving them fearful and in despair. One of the keys to managing emotions in trading is to keep in […]
One of the hidden challenges in trading is that in order to trade profitably you must be able to find trades where you can sensibly manage your risk (potential losses).
This may seem like a dull subject to you but if you don’t manage your risk properly then you will never be profitable in the long […]
Take a look at the chart above. Is the market in a trend or a trading range?
It is an uptrend, isn’t it?
How do we know that it is an uptrend? The market is making higher highs and higher lows
Look […]
All traders must look for Context, Content and Confluence – Do the Duck Test. This is the second essential component to successful trading.
Beginners tend to learn certain candlestick patterns or a chart pattern or an indicator behaviour and think that they can just look out for it to appear on their chart, take their trades […]
Profitable traders have a recipe for success and in this series I am going to talk you through all the ingredients (components) that you need to incorporate into your learning, your trading strategies, and your life outside of trading in order to give yourself the best possible chance […]
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