8 Trading Signs of Success
Trading Signs of Success
Once you’re a trader, you’ll always be one.
Once you have the pure desire and urge to succeed, there is no turning back.
And you need to go with your own time line and slowly but surely, you will make it.
But there are a few signs you’ll need to consider.
It’s all up to you. Let’s start with these inevitable signs.
Sign #1: You Have a Passion to Trade
Successful traders are driven by an innate passion for the markets.
You need to have a desire to understand the intricacies of global economies, price action and the thrill of identifying high probability trades.
The wins, the losses.
The winning streaks and even the losing streaks.
You need to have equal passion and enthusiasm to fuel the time and effort you’ll need to put into learning, practicing, and refining your strategies.
Sign #2: You Have a Trading Routine
A routine is crucial.
Whether it’s in the morning, afternoon or at night.
This routine includes regular market analysis, pre-market preparations, and post-market reviews.
Pre, during and post.
Pre involves doing all the preparations and looking for sexy setups.
During, is identifying high probability trades and putting in your trading levels.
Post is seeing how your portfolio and trades performed.
And you’ll need to foster a systematic approach to trading.
Successful traders know the importance of sticking to a routine to avoid hasty, emotional decisions and to stay attuned to market changes.
Sign #3. You Are Disciplined
In the world of trading, discipline is king.
It’s the ability to maintain control, stick to your trading plan.
It’s also the state where you avoid impulsive decisions based on fleeting market sentiments.
Successful traders know when to enter and exit trades, when to cut losses.
They also have the discipline to monitor and make any necessary adjustments.
But most important, you need to follow your strategies diligently.
Sign #4: You Have a System to Follow
A system has a clear set of rules and parameters for entering and exiting trades, managing risks, and securing profits.
You then have the ability and vision to fine-tune the system, look for the best markets to follow and navigate the markets confidently and consistently.
Your goal is to reduce the role of guesswork and emotion in your decision-making process.
Sign #5: You Have a Strong Mind
Trading is a mental game.
It’s one of my 4 M’s with trading (Markets, Methods, Money and MIND!).
A successful trader possesses a resilient mindset that can handle the emotional rollercoaster that trading often brings.
They remain calm under pressure, keep their emotions in check.
And most important, they are able to stay rational even when faced with losses.
Sign #6: You Have Tunnel Vision
Think of horses with their blinkers.
They can’t see beyond their central vision.
They can’t see the sexy horses around them nor the food that surrounds them.
So with trading you need to be central focused.
You need to learn how to block out ‘noise’ and stay focused on your trading endeavours.
Don’t be swayed by others.
Don’t be swayed by the news.
Don’t be swayed by the hear-say!
Remain focused on your plan and what you know works with you.
Sign #7: You Have Goals
Successful traders set clear, achievable goals.
They know what they want to achieve through trading and have a timeline for these goals.
They are realistic about their expectations and continually monitor their progress.
Based on your track record.
You have goals on what your win rate is.
You have goals on what no. of winning and losing trades you can expect per year.
You have goals as to what your portfolio should potentially grow to each year.
Having specific goals keeps them motivated, directs their efforts, and helps gauge whether their strategies are working.
Sign #8: You Have Endurance
You have to learn to be persistent, and endure the ability to withstand market volatility and periods of losses.
You have to understand that downturns are part of the journey.
You need to lose to win and how it’s the only way to help your portfolio achieve an overall upward trajectory.
Also have the endurance to wait for the right trading opportunities that will present themselves.
So if you got these trading signs you have a great chance at WINNING.
Here they are again.
Sign #1: You Have a Passion to Trade
Sign #2: You Have a Trading Routine
Sign #3. You Are Disciplined
Sign #4: You Have a System to Follow
Sign #5: You Have a Strong Mind
Sign #6: You Have Tunnel Vision
Sign #7: You Have Goals
Sign #8: You Have Endurance
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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