Your Success Model for Trading
Let's get real
Many new traders enter the world of trading with the lure of easy money. All you need is an internet connection and a platform to place a trade. This allows you to play ball with the big boys.
You are scammers bait!
A new trader
If you want to know more about the home truths, have a look at my E book. I wrote it to send the readers a very clear message. That message is, "This
Relying on signals to buy and sell, taking the trading advice from others and asking silly questions like, "Should I buy or sell today" means you are not ready to trade live.
Your responsibility is to develop and structure your learning path. Trading the markets with success is a massive undertaking, and therefore people are looking for quick, easy solutions. This is the world
As per any worthwhile endeavour, there will be those waiting with open arms to cash in on the opportunity. They will show you the easy way. Yet with trading there is no "easy way", it takes time for your own personal trading model
Your Personal Trading Model
What is your personal trading model? This will take time for you to discover. The part that traders do not want to hear is that after two years of dabbling and trying different trading approaches, you will be ready to start your personal trading model. After a few years of experimenting and following certain online gurus, you have come full circle. There are many positives to pull out of the various experiences that you have
Your personal trading model will always evolve as you engage with new trading experiences. See trading as a personal development platform rather than a moneymaking venture. From growth comes reason and from reason comes responsibility.
Three Pillars For Trading Success
Understand the market - Your development as a trader must involve you learning the functions of the market. This does not have to be at a level of an
Take the time to observe the market reactions to certain news events. You are trying to create a feel for the
Understand Price - Price is the most up-to-date indicator you will find. Price is a leading indicator and not lagging as per every other indicator on your charting software.
The study of price will give you a huge advantage to become a successful trader. Most traders never look back after they have developed an understanding of price;
Once more, it will take time to understand the workings of
Price is king.
Understand Yourself - Without the completion of understanding yourself, all the other work you have applied will become wasted. Understanding yourself allows you to work on your inner personalities. The hierarchy that does your trading for you. This will expose many of your inner demons that play out whilst trading. The need for attention, winning, to be right, greed, fear of missing out, importance and many more personalities that do your trading for you.
Trading will expose these trading issues. These are personalities that serve you well in the real world;
From where I sit, it is relatively easy to pick up on the various hierarchy issues that stand in the way of trading. If a student shows me just a few trades (win or lose), it is easy to identify the core of the situation. We can then
Discipline and Self Development
A trader will need to apply discipline and have excellent trade selection. If you jump in and out of every opportunity, you will end up in trades
As a trader,
That is not all
We have given you the three principles to a successful trading model. Each of these will get broken down into deeper components.
Your equity management protocol needs to
Serious about trading?
If you are serious about your development as a trader, we invite you to have a look at the FREE resources we offer at our website.
The knowledge center on the website will give you access to quality information. The daily insights will break down price action and the drivers of the market for the upcoming trading session.