8 Signs of Trading Success

by | Oct 25, 2023

Successful trading is a blend of art and science.

You need to incorporate all the different elements to create a symphony of trades and results.

However, there are universal signs that can help you increase your chances of long-term profitability.

Let’s delve into 8 key indicators of trading success.

  1. You have passion – This is a forever journey

Passion is the fuel.

It’s what helps drive you through the highs and lows of the market.

You’ll realise over time, that it’s not just about making money.

It’s about a genuine love for the process:

  • The learning.

  • The financial responsibility.

  • The challenge.

You have to immerse yourself fully into the world of finance, constantly learning, and staying up-to-date with market news.

This passion ensures you’ll stay committed, making it a lifelong journey.

  1. You have a routine – You know the best times and days

You need establish a trading routine.

This is so you know the optimal times and days that suit you best.

A routine will help you stay disciplined and keep you on track to focus on building your trading portfolio…

  1. You have strict rules – Risk, entry, and money criteria

Successful traders have a set of ironclad rules.

These rules help govern their actions.

These rules cover risk management, entry and exit strategies, and money management.

Stick to these rules and you’ll avoid impulsive decisions, revenge and emotional trading.

  1. You have a system – Know where to enter and place your levels

A trading system is your roadmap through the markets.

It encompasses your technical or fundamental or sentimental analysis methods.

You’ll need to prove it works and have a confirmed profitable back and forward tested system to follow into the future.

  1. You have a strong mind – No emotions whether you win or lose

Emotions can be a trader’s worst enemy.

Fear, greed and ego are the main ones.

But then there is excitement, panic, regret, anger and misery.

You got to learn to control them and cultivate emotional discipline.

Staying level-headed and objective helps you make rational decisions based on your analysis and trading plan, rather than gut feelings.

  1. You have tunnel vision – You don’t need to look from other sources

In a world inundated with financial news, social options, trading Tweets and market opinions all around.

Successful traders have the ability to maintain focus and have sharp laser vision when they trade.

They don’t get overwhelmed by external sources or constantly change their strategy based on the latest headlines.

  1. You have goals – You know what to expect to gain (your journal)

Setting clear and realistic goals is crucial for measuring progress and success.

Successful traders have a well-documented trading journal that tracks their performance. They also know their stats winners, losses, win rates, loss rates, drawdown numbers etc…

They know what they expect to gain from their trades over the long run.

And they regularly review their results to identify areas for improvement and consistency.

  1. You have endurance – You know you can keep at it!

Trading success is a forever business.

Just like you get a salary each month, you need to work to get it.

Same with trading.

You are always trying to trade well and consistently to earn your salary.

The only difference is… With successful trading comes compounding.

And with compounding comes accelerating earnings and growth…

These are the main signs of trading success.

Let’s sum them up one more time…

  1. You have passion – This is a forever journey

  2. You have a routine – You know the best times and days

  3. You have strict rules – Risk, entry, and money criteria

  4. You have a system – Know where to enter and place your levels

  5. You have a strong mind – No emotions whether you win or lose

  6. You have tunnel vision – You don’t need to look from other sources

  7. You have goals – You know what to expect to gain (your journal)

  8. You have endurance – You know you can keep at it!

Trade well, live free.

Timon Rossolimos
Founder, MATI Trader

 

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Trade well, live free.

Timon Rossolimos

Founder, MATI Trader

 

 

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