Trade for a living, not live to trade
The reason most people start to trade is to have time freedom so don’t spend 8 hours of your day in front of the pc trading. Hit your targets and walk away. Enjoy the rest of the day doing something else you love
The market is there 5 days a week for the rest of your life so there is no need to rush everything. Learn to enjoy it and step away and come back fresh and ready the next day.
Your job is to come to the market with an edge, take high probability/low risk trades and the profits will take care of themselves. Having a losing trade does not make you a bad trader. If you stick to your rules then losing trades will make you a better trader in the long term. Learn from your mistakes and failures and use it to build future success.
- Think positive daily and expect to be profitable everyday as the bare minimum
- You should measure your performance once a month.
- Your goal should be around 75% winners and 25% losers.
Trading is a business. Log and review your trades for the week. How you felt and how you managed your emotions.
Use this log to see your strengths and weaknesses and then improve on them.
A trader knows the rules and breaks them.
A professional trader knows the rules and does not break them.
A world class trader knows the rules and knows Never Ever break them.