Majority of people aspire to become successful traders don't have the right perspective about trading. Most traders only focuses on the positive side of trading and avoid or ignore the harsh realities of the market, while it is true that there are huge profit potential in trading we cannot also deny on the fact that their are only a few percentage of traders that make consistent money in a regular basis, that it may take years of constant learning and engagement on the market before you can become discipline and create an effective strategy that you can use in your trading.
When I started trading a few years back I was very excited and aggressive on the belief that I already found a profession that can make me rich in a short period of time but those belief remains a dream at this very stage of my trading career and I am not sure how many more months or years I will spent in order to achieve such dream. Today I confirmed that trading is a very difficult profession that if you don't have the right education and preparation both technically and psychologically you will just end up having nightmares.I am a very stubborn man and I always believe on persistence, even though that I was not able to start my trading career on the right foot but I was able to learn and develop the skills of a good trader the hard way and I know that if I continue on my journey I will achieve my goals in the very near future.
In my years of trading I was able to understand that you cannot under estimate the market at all times, it is important that you just don't listen or believe to what you hear or read, make your own research, trading is like going to war with the toughest enemy out there, be fully prepared, it is very important for a trader to know what are the essential aspects in order to become a successful trader. Seek for knowledge and wisdom, apply it in your trading and you will be profitable.
Happy New Year!
Sunday, December 25, 2016
Tuesday, December 6, 2016
Trading Is A Boring Profession?
Being profitable does not mean that you have to be active in trading every hour or to open more trades in order to be a profitable trader, on the contrary most successful traders in this market may place just a few trades every week and still come out profitable, why? because this is precisely what trading is all about, it requires discipline and the patience to wait for the market to aligned according to your trading strategy, but most traders do the opposite they chase the market, they are get controlled by their emotions and get carried away by the roller coaster ride of the market,perhaps this is attributed to our very nature that we always want excitement we want to push for more actions but this is not what trading is all about, if a trader want to be successful and make money in this business he must develop the skills that professional traders have.
Professional traders are calm and discipline every time they face the market, they make sure that they follow their trading rule every single trading day and without thinking that the particular trade will be a winner or loser, if at certain days that market shows no trade setup according to their strategy then they just skip trading. Professional traders don't force their trade and just continue to wait until the market is aligned to their trade criteria, while struggling traders look for action all the time in the market that can only lead to more losing trades because of poor entry, trading is all about quality of trades not the quantity.
Being a professional trader means doing repetitive action all the time that makes trading a boring profession but this is the only way to be profitable in trading, if you want excitement then seek it somewhere else or suffer the consequence of losing money all the time, we must get to boredom as much as possible to become profitable traders.
Professional traders are calm and discipline every time they face the market, they make sure that they follow their trading rule every single trading day and without thinking that the particular trade will be a winner or loser, if at certain days that market shows no trade setup according to their strategy then they just skip trading. Professional traders don't force their trade and just continue to wait until the market is aligned to their trade criteria, while struggling traders look for action all the time in the market that can only lead to more losing trades because of poor entry, trading is all about quality of trades not the quantity.
Being a professional trader means doing repetitive action all the time that makes trading a boring profession but this is the only way to be profitable in trading, if you want excitement then seek it somewhere else or suffer the consequence of losing money all the time, we must get to boredom as much as possible to become profitable traders.
Saturday, November 19, 2016
Why majority of traders fail in the long run?
Books and experts say 95% of traders fail or maybe lower but whether the statistic is true or not still it is a fact that most traders suffer years of constant struggle in the market, trying every strategy available, tweaking your system here and there but the end result is that you are still losing money and it become a cycle, why?
Based on my own experience all this things happen in a trader's life because of the inability of that particular trader to consistently follow or implement his strategy and risk management in a consistent basis. Traders try to do some stupid things somewhere along the way and will lead them to more losing trades that can drive them to become indiscipline, psychologist called it self-sabotage. Of course a good trading strategy is also part of becoming a profitable trader but if you cannot follow its trading rule in a consistent basis all efforts will be in vain, whether you have a bad strategy if you follow proper risk management approach you wont get your account wiped out.
Trading needs discipline all the time that by just one mistake it can turn your trading upside down, in order to have better chance of success in trading we need to think logically all the time, we are emotional by nature but we have to suppress emotions during trading and emphasize in our sub-conscious mind that the only way to succeed as a trader is to have the right mindset and be logical in making decisions all the time otherwise we will be just part of the majority of traders that keeps on losing money through years of trading. Aspire to be psychologically prepared first before you attempt to try any trading strategy in real market. Emotional and technical preparedness is a must in order to achieve your goal in becoming a successful online trader.
It easier to say be a discipline trader all the time than doing it, in reality it is very hard to be a discipline trader and follow a certain methodology once you engage the live market, once the price start to swing up and down in front of your naked eyes your brain start to react differently that can most of the time lead to actions that you don't intend to do or do things not according to your trading plan or strategy, the real challenge to every trader is to suppress or control emotions during actual trading and act based on your chosen strategy not on your own discretion.The process of becoming a discipline trader may take months or years but we have to persevere in order to achieve our ultimate goal to become a financially independent individual.
Based on my own experience all this things happen in a trader's life because of the inability of that particular trader to consistently follow or implement his strategy and risk management in a consistent basis. Traders try to do some stupid things somewhere along the way and will lead them to more losing trades that can drive them to become indiscipline, psychologist called it self-sabotage. Of course a good trading strategy is also part of becoming a profitable trader but if you cannot follow its trading rule in a consistent basis all efforts will be in vain, whether you have a bad strategy if you follow proper risk management approach you wont get your account wiped out.
Trading needs discipline all the time that by just one mistake it can turn your trading upside down, in order to have better chance of success in trading we need to think logically all the time, we are emotional by nature but we have to suppress emotions during trading and emphasize in our sub-conscious mind that the only way to succeed as a trader is to have the right mindset and be logical in making decisions all the time otherwise we will be just part of the majority of traders that keeps on losing money through years of trading. Aspire to be psychologically prepared first before you attempt to try any trading strategy in real market. Emotional and technical preparedness is a must in order to achieve your goal in becoming a successful online trader.
It easier to say be a discipline trader all the time than doing it, in reality it is very hard to be a discipline trader and follow a certain methodology once you engage the live market, once the price start to swing up and down in front of your naked eyes your brain start to react differently that can most of the time lead to actions that you don't intend to do or do things not according to your trading plan or strategy, the real challenge to every trader is to suppress or control emotions during actual trading and act based on your chosen strategy not on your own discretion.The process of becoming a discipline trader may take months or years but we have to persevere in order to achieve our ultimate goal to become a financially independent individual.
Monday, November 14, 2016
Do's and Dont's In Trading!
Trading is all about being discipline in following your specific strategy, that one wrong move can bring disaster to your trading account, so I would like to point some do's and don'ts when you are into trading so that you can avoid the bad habits and implement the proper approach. All in the list are very vital to a trader's success and must be fully embed in your sub-conscious mind.
Do's:
1. Be discipline in following your strategy all the time
2. Always follow proper or appropriate risk management in your trading
3. Trust your system all the time
4. Let the market come to you
5. Be logical in making trading decision all the time
6. You must submit that market is always right
7. Stick to the rule all the time
8. Always trade on what you see not on what you think
9. Learn to accept loses, its part of trading
Don'ts:
1.Never ever adjust or remove your stop loss price
2.Never shift or used to an untested strategy
3.Never chase the market, there are always good trade setup to come
4.Never allow emotions to interfere in your actions
5.Never ever think that you can control or beat the market
6.Never force your entry,always wait for high probability trade setup
7.Never glued your eyes monitoring your trading chart
Having a good and battle tested strategy is important to succeed in trading but without discipline in implementing its trading rule all the time everything will still fail. Online trading is a 24 hour business but it does not mean that we have to trade the market all the time.
Happy Trading!
Do's:
1. Be discipline in following your strategy all the time
2. Always follow proper or appropriate risk management in your trading
3. Trust your system all the time
4. Let the market come to you
5. Be logical in making trading decision all the time
6. You must submit that market is always right
7. Stick to the rule all the time
8. Always trade on what you see not on what you think
9. Learn to accept loses, its part of trading
Don'ts:
1.Never ever adjust or remove your stop loss price
2.Never shift or used to an untested strategy
3.Never chase the market, there are always good trade setup to come
4.Never allow emotions to interfere in your actions
5.Never ever think that you can control or beat the market
6.Never force your entry,always wait for high probability trade setup
7.Never glued your eyes monitoring your trading chart
Having a good and battle tested strategy is important to succeed in trading but without discipline in implementing its trading rule all the time everything will still fail. Online trading is a 24 hour business but it does not mean that we have to trade the market all the time.
Happy Trading!
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