To Be Successful In Trading

Discussion in 'Professional Trading' started by FattBurger, Jan 19, 2010.

  1. To be a professional trader you must focus on price charts only. Turn off the news, please don’t watch the financial channels, when the time comes to execute you will hesitate.

    Keep you mind free and clear from all bias. This site is also bad for your mind, all you will find here are failures who want you to fail. Protect your second most valuable asset in trading your mind.

  2. How do I know you are not lying?

    If I believe what you said, you must be a failure who wants me to fail.

    so, do you want me to believe you or disbelieve you?

    If I believe you, you are lying to me by telling me that I shouldn't watch the financial channels because you want me to fail.

    If I disbelieve you, I will find successful traders on this site.
  3. LOL.. The funny thing is both of you are right...
  4. There are far more essential things for one to be successful in trading and it is not just the price charts.

    A trader in his own way must develop the ability to keep on going. You may have many failing trades and still win the long term pursuit of trading profits. But you have to keep going.

    A trader must develop a personal risk management program. Part of this risk management approach must include a definitive method of removing trading profits from the market. Deployment of these profits are best directed to a lower risk category of investment.

    A trader must learn to deal with uncertainty. Most trading situations are neither black nor white but a shade of gray. Trading is an uncertain art form. If you wait for certainty, it is to late. The profit opportunity is gone.

    Lastly, a trader must develop the ability to focus. A one market approach may be the answer for some traders while a single trading approach to several markets may prove to be successful for other traders.
  5. Yeah, that's all it takes.

    Still awaiting your next brilliant insight.