Key Steps to Trading Success

The following are my thoughts on what I believe are the overall key steps to trading success:

  • Realistic expectations:
    • There is no quick and easy ‘Golden Button’ to trading riches.
    • Set realistic time-scales to achieve consistent profitability.
    • Temper your expected earning potential in the first few years.
    • Set realistic targets.
  • Determination, Patience & Discipline:
    • Determination to succeed and not giving up at the first, second or third hurdle.
      • Stick-ability.
    • Learn to ability to be Patient and wait for high probability trades to come to you rather than try and force the market when it is not yet ready.
    • Develop the Discipline to adhere to your Trading Plan to the letter. Continue reading

Meet, Greet, Live & Learn

The most interesting thing about trading is that you never stop learning; there are so many different ways of trading the markets and many differing viewpoints.  It appears to be a continual quest, which makes for a fascinating occupation.

Probably the worst part of being a retail trader (apart from losing money!) is that it can be a particularly lonely thing to undertake day after day.  It is down to you, your views, your analysis and your decisions.

To ameliorate both points I offer the following: Continue reading