I know that when you see the title of this article you will think: “What a sensational headline”! I can assure you that I am not exaggerating in the least. I promise you that if you read the entire article and meditate on what you are going to read, but above all you take action and implement what I am going to share with you, you will no longer see this headline as an exaggeration.
Becoming a successful trader is not difficult and it is not a dream as you may be thinking now. All that is needed are small changes/adjustments in your behavior and above all, in your way of thinking. I recommend that you read the entire article to the end because I think that the information I am about to share may be the “piece of the puzzle” you are missing right now.
Step 1: Stop trading next week
This step is very important and what you should take if you want to considerably improve your trading results and put an end to any trading problem you are experiencing right now.
It is very difficult to objectively see the mistakes you are making if you do not stop operating. So the first thing you have to do is close all the positions in case you have some open and take “vacations” from trading; Don’t be in any trade!
During that week, you are going to do a series of things and here I indicate them in their order of importance:
1. Review and update/modify your trading plan – If you haven’t been using your trading plan, that probably explains why you have been dealing with the markets recently. So, take action and update your trading plan; Check it out and you must be sure that it is still a plan that you want and if you do not have a trading plan then you must create one. If you do not know where to start you can take my trading course because I teach you what my trading plan is and how to avoid the most common mistakes when trading.
2. Modify Your Thought – Eliminate that feeling of “I need to do an
operation” for not taking positions for a week. I understand that THAT is
the feeling that you MUST have almost all the time, that is, that most of the
time you should not be in the market. Most of the time you must be patiently
waiting for a high probability trading pattern, in other words, a Highly
Profitable Pattern as I explain in my online conference.
Understand that if you make that mental change of thinking that you need to do
many trades to earn money, to accept that you need to be more patient and
disciplined, you will be closer to your goal of being a successful trader.
3. Organize – I want you to organize independently from where you trade. If you have an office, organize it. If not, then organize your computer by removing all the digital junk you have, files, etc. The next step, organize your trading plan so that it is reflected in a well-structured document; Print it, laminate it if you want, just give it a professional and organized touch so you are more likely to use it.
4. Clean Graphics – If you haven’t already done so, remove everything from your graphics. I mean all the indicators. I explain how I have my structured graphics in my online conference that you can see here.
To summarize, you must stop trading for a week to 1. Review, update or create a trading plan if you do not have one, 2. Modify your way of thinking about the “need” to trade all the time and become a patient person who trades like a sniper, 3. Organize your trading area, computer and trading plan, 4. Use indicator-free charts and use only essential indicators to help you identify profitable patterns.
Step 2: Modify your definition of trading success
You are going to have to modify your idea that ‘success in trading` is synonymous with` fast money, luxury cars, etc.`, that trading is learning to trade correctly and to follow a proven trading plan and methodology. Those who win in trading are those who make profits slowly but consistently and not by fast and impulsive trading. What you should understand is that constant profit and progress every month is what forms a profitable trading activity; The sooner you understand this and start behaving in a way that reflects that you understand it, the sooner you will become a successful trader.
Stop thinking that the market offers “constant opportunities”; My vision of trading is more a reflection of thinking that trading is a `window to trading opportunities to get money, but with many traps and high risk`, so you should be careful not to fall prey to easy trading. Through education, time viewing charts, and experience, you will be able to learn how not to be caught by trading signals that occur every week. This does not mean that you will not have losing trades, it simply means that you will be able to avoid unnecessary trades that are the result of not being prepared and not having the right mental state when trading.
Step 3: Stop betting and start trading correctly
There are two ways of trading; in the style of a casino player, that is, gambling … and then there is the right way, which is like an expert and patient market analyst.
It’s a shame but most people, unfortunately, end up gambling, regardless of how much hope and optimism they had to start with. Trading is an activity that can be very addictive, and once you become addicted to being in a trade, you have officially become someone who bets on the market, whether you know it or not.
To avoid becoming a gambler, it takes a conscious effort on your part. If you are doing random trading without a solid trading plan, you are going to end up being a gambler. Being successful in trading requires much more effort than you are initially willing to give, it requires strategic planning and thinking. I don’t mean that it is “difficult” or that superior intelligence is required, what I am saying is that you need more objective analysis and planning than most people may think.
The best thing you can do is learn to trade with a simple, minimalist methodology and using only the data offered by price action. Profitable trading starts by learning how to trade correctly, and if you have not yet learned how to do it, then you need this to be your priority because it will be part of the basic pillars of your trading. Once you are clear about these pillars, you can build your trading plan from this base and implement the `mental changes` that I have mentioned in this post. If you do that, successful trading will not have to do with `how` or` what`, it will only be a matter of making it possible and following your `trading plan` which I mention here.
