THE recipe for trading success is about Attitude

The main factor that helps create the formula for successful trading is ATTITUDE

Attitude plays an extremely important role in any trader wanting to win in this market (and in whatever). The formula below provides a clear tool for how to achieve success ... but it also helps define yourself on that path.

TRADER SUCCESS = A x (LTV + D + E / T)

Let's take a look at the ingredients of the recipe

LTV is a LONG TERM VISION

First, you have to have a long-term vision in mind. You are not the only one who wants to win a great trade in the first week of your trading career. You are also not the first to want to become a millionaire trader soon, like internet advertising. However, you need to be able to break your goals down and be clear that achieving them will take a few years.

You need to understand that Trading is a business and of course it will be happy when you succeed because you can trade anywhere and give you freedom, but this scenario does not come in day 1. Day 2. High-income professions like doctors, lawyers ... take a very long time to start making a lot of money. That time is to gain more experience and hone your skills, and then step up.

LTV is a must-have a realistic, expected desire.

First of all, you must admit that you have a fire risk. At least at first you will make the mistakes of newbies (even pros will make mistakes) and make losses ... even chain of losses.

You will lose capital

However, this won't destroy you. You are expecting a loss. You really anticipate there is a loss in every position you enter, so you put a stop loss on your account and it helps you to exit your position when the loss reaches a certain level.

The truth is, most people fail in this profession. Failure is only failure when you give up. However, there are many traders who do not make enough money to support their lives but are enough to be seen as a small external source of income in addition to the main income. If you want to succeed, you should identify with suffering.

D IS DISCIPLINE

At the core of Discipline are rules. The rules of trading (and in life) must be set by YOU and conform to your trading method
  • Discipline is the observance of the trading rules of your method
  • Discipline is the compliance with strict capital management methods to avoid account fire
  • Discipline lies in trading psychology and helps repel the "evil" part of each of us.
The most important thing about discipline is that traders often do not adhere to the discipline of their trading method. Failure to comply with discipline puts traders at greater risk. It could be that the trader will trade for revenge or allow the psychology of greed - fear to overwhelm and often result in account fire

You are not disciplined, you certainly have no chance of success.

E / T is EFFORT OVERTIME

We need to make a clear distinction between 5 hours of focus on work and 5 hours of being in work, distracting, and indiscriminate work. The quality of the training is much more important than the amount of time spent.

When Trading, be very focused. This will help to avoid errors. Focus on trading plans and product deals. At this point, you will find yourself not having to imitate a professional trader, but in fact, you are a professional trader.

A is Attitude

When you have the right attitude and do the above things well (LTV, D, E / T), the success of your Trading will be multiplied. You can add other ingredients to this formula like risk, mastery of trading plan ... but with the wrong attitude, your path will be very tough.

YOU NEVER DO THESE THESE WORK
  • Blame the market
  • Blame the trading system
  • Blame the analysts
  • Blame the broker
Troubleshooting is the attitude of a failed trader. No one forces you to trade.