Want to start earning consistent profits as a trader?
Good. You're in the right place, because we're going to talk about some topics that get ignored all-too often in the trading world.
7. Take a Loss Without Freaking Out
Here's a sign that you're going down the wrong path as a trader: you lose a few hundred bucks, and you freak out. You slam your keyboard down, you use some foul language, and you want to quit.
This is bad, bad, bad! Here's a harsh reality that too few people in the trading industry talk about: losing is part of winning.
If you can't deal with losses, you'll never make it.
6. Hit a Home Run Without Freaking Out
On the flip side, you shouldn't get too excited when you nail a trade that lands $6K in your bank account.
Why? Because trading requires a steady hand. And you can't let your excitement cloud your judgement.
And if you're progressing in the right way, winning will be just another day at the office!
5. Talk to Traders That Are More Experienced and More Successful Than You
Even the most elite professional athletes hire coaches in the off-season. They know the value of an expert's point of view.
Trading is no different. If you're not getting the results you want, by definition you need help. So talk to more successful traders about your troubles. Odds are, they've been down the same road you have, and they can help.
4. Know the Difference Between a Breakout and a Fakeout
The media wants you to believe that every tick up or down is a big deal.
To succeed as a trader, you must be able to tell the difference between real moves and fake moves. And you must be able to tell that difference instantly.
If you can't look at a chart and break it down in short order, you may need additional training.
3. Actually Learn a Real Trading Method
99% of traders are operating at random. They use a random collection of tactics learned from books, videos, and online forums.
The most successful traders are systems-oriented. They use trading methodologies where all the elements -- market analysis, entries/exits, risk management. etc. -- work together.
This prevents you from trading on feelings and emotions.
2. Put Some Real Time In
You can learn a lot about trading in a few days. But making money on a consistent basis takes time.
Making money in and of itself is a skill. Only through experience can you learn what it's like to deal with an overly volatile market, or your ego spinning out of control after a great trade.
Focus on learning a process and methodology over time, and you'll gain true control over your trading. You also need to give yourself time to succeed -- there are no overnight successes in this business.
1. Improve Your Batting Average
Here's an obvious truth that too many people ignore: if you want to turn your trading account in a paycheck, you need to win more often.
You need more accurate entries and exits. And you need to make more money on each trade.
It's not easy, but it is simple: win more often, lose less often, and you get more consistent returns.
Do you want more consistent results?
Are you ready to put some time in to take your trading to the next level?
And are you ready to get mentored by expert traders that have conquered the challenges you're facing right now?