Trading is not black and white. There is no one size fits all approach. Ne traders struggle so much because they are looking for answers that don’t exist.
A big ego is sign of inexperience. The best traders are humble because at some point during their journey, they got their ego handed to them by the market.
It’s important to only trade with money that you can afford to lose.
Respect risk. You can make progress for months and then undo all of it in one undisciplined trade.
The crowd will focus on complexity and try to reinvent the wheel. The best traders focus on simplicity and improve on what is known.
Good things take time and trading is no different. You need to be patient and give yourself time to learn and grow.
Discipline is more important than intelligence.
The most successful traders are the ones who have taken the time to understand themselves and their own motivations.
Be patient when waiting for the setup. The best trades often take time to develop.
A good plan is nothing if you don’t stick to it.
The analysis is easy, it’s the execution which is hard.
You have to go through the bad trades to get the good ones.
A trade is never a sure thing. You can do everything right and still lose money.
If you are willing to lose, you will spend too much time checking your trades, over analyzing and making bad decisions.
Don’t over complicate things. Keep your trading simple and easy to understand.
Preparation reduces over thinking.
You are not obliged to trade everyday, some days there isn’t just anything worth trading.
Preserve your capital. Without it, you won’t be able to trade for very long.
Focus on the process, not the outcome. If you are doing the right thing, the results will follow.
Lastly, there is no final destination. Trading is an art that you spend your whole life practicing.
0 Comments