(1) Focus on your beliefs and behavior. If you don't believe that you can make money trading - stocks, commodities, indices, or anything, you won't be able to make money from it. Or if you believe this is a game of algorithms and some of the insiders and your chances are just zero then the same is true. Having the right belief is the beginning of something serious. So focus on your beliefs and behavior, take time to evaluate and improve!

(2) Even the richest person in the world only has 24 hours a day. Time is more valuable than money. As an investor, you must constantly consider how you spend your time. Use analytical optimization tools and work hard to learn and hone and analyze the news after placing your order. Using your study time after trading orders will help you limit the time you spend looking at the charts and pay too much attention to noise occurring in the market.

(3) You need a carefully curated and personalized schedule of routines. These processes provide the responses necessary for your investing and trading efforts. It's like the reflective median strips that you see on highways, they give you the exact lane you have to join. The path of a trader can be: Have breakfast> drink coffee> update economic calendar> view chart> mark support resistance levels> assemble observable into the trading system> place orders wait> backtest some new systems to improve the current one.


(4) Stay disciplined - don't confuse investing with gambling. Investing can be fun, but don't think of it in the same way as gambling. Gambling is entertainment while investing is business. We need to maintain trading discipline even though we can have fun with it, never lose reality. We are here to make money, and if we lose our focus and accidentally pause our discipline, we may pay the price. You can have fun, but be disciplined!

(5) Simplicity is better than complexity. For many too highly educated traders, this is counterintuitive. However, there have been many studies supporting this. You do not need new indicators, and you can remove them if they are not absolutely necessary.


(6) A high IQ does not necessarily mean successful trading. This is a consequence of the simple rule (rule 5). Let's take an example of another career. There has been a number of studies that prove that veteran salespeople often turn out to be great salespeople. They are used to a customer saying "no thanks" - about 70% of the time. They don't care about such words because they know ignoring them will bring them closer to the next customer who will say "yes, please". They quickly forget them and move on! Often times, people with a high IQ cannot get out of the obsession to continue. They have a hard time with "no!" Rejection. Going back to trading, not being able to ignore and obsessing over unprofitable transactions will make it harder to move on, and studies show that people with high IQ are more susceptible to these problems. This state over!

(7) Learn to think in terms of probability and grasp probability. Let's say that out of your last 100 transactions, 60 were profitable. That gives you - or your trading system - 60% probability. The probability depends on your trading system as well as your ability to control your emotions to stick with that system.

Furthermore, the primary goal of every analysis given before entering the market is to maximize the chance of entering a high probability trade. If you are looking for a specific model of technical analysis, you are trying to maximize the probabilities. Because when an opportunity arises, it will be followed by a series of rate movements. By looking for a reasonable investment model, you increase your chances of finding a trade with a higher probability.


Each trader has their own trading strategy and profit-loss ratio that best suits them. One of the challenges of investing is finding a trading strategy that works for you and a system that suits your mentality.

If you had to rate your risk tolerance on a scale, where do you think you would be? Are you afraid of taking risks, being cautious, and calculating? Or are you willing to take more risks and get big results?

The most important thing is to choose a system that can manage your profit and loss rates and that has the potential to increase your chances of a successful trade as possible. There are no specific rules - you just need to find one that fits your trading strategy.