The Basic Keys to Trading Successfully

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The key to trading successfully and putting away money in the bank is having the right education, you cannot successfully trade without educating yourself. The right education entails simple steps around the mechanics, analysis and strategies. According to my mentor, success is not hard to find, but one must suspend their disbelief, replicate what other successful people have done, and know their efforts will lead to similar results.I hear you have spent cash already to get the training but you are still not making money, your losing trades are more than your profitable trades. You are feeling this is not for me and are ready to quit. Maybe you have all the right education but it is necessarily not working because the market already moved before you placed your trade.

My next basic step is to plan and execute your trades with confidence. No great venture without a plan, the market requires a Trader to be conditioned both mind and body. It is our lack of condition that gingers a failed trade. To be conditioned you are required to write down your plan and be disciplined to follow your plan. Most of my early days devastating losing trades were made when I decided not to follow my plan an example of such indiscipline is when I take out the stop loss. Foolish and indiscipline.

As a man and woman thinks so is he or she. The final basic step as to do with your mindset as a trader. You must have a winning philosophy, shift from the losing camp into a winning camp. This commitment to yourself is important to success.

The market is not against you, you need to follow the basics steps of a success trader and trade with discipline. There are more money making opportunities every day in the market than you could ever need in your entire lifetime.

If you stay on this journey long enough you will discover it is not actually about the goal you have set. It is about the person you have to become to obtain that goal. The truth  is this is all about the journey itself.

Until next post, start preparing your mind for success.

 

One Reply to “The Basic Keys to Trading Successfully”

  1. Hi Dayo,
    Thanks for this informative post. Sometimes I doubt myself and feel that a 9-5 job is the way to go. You’re so right that this is not the way to think; educating yourself and reading success stories from others can do the world of good

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