Week of 4/18/16: 3 Requirements for Successful Trading
This is what we discussed in class this week with our advanced members:
3 Requirements for Successful Trading
- Money Management
- You (the Trader)
How Successful Traders Think Differently
- They accept responsibility for their results.
- They see the market as neutral; just a non-stop flow of inert information offering them potential opportunities.
- They accept the risks and uncertainty of the random results on each individual trade.
- They think in probabilities just like a casino. They understand odds and how they function over the long term.
Gaps and Psychology
- You can’t make trading decisions based on emotions or what you “think” may happen.
- Trade based on “facts” by using tools available that show you what’s happening in the market.
Share this article
Learn to Trade from Top Traders
Join the CCT community and get FREE, unlimited access to all of our trading resources from top hedge fund managers and pro Forex traders around the world.Join Now