The Trading Journey
If you’ve started trading recently or you’re an experienced trader operating on the financial markets for many years, there is one thing you know for sure: handling emotions has been (or currently is) a big deal.
Personally, I’ve encountered many obstacles on my path to get where I am today and, to be honest, I’m still making some common mistakes from time to time. The vast majority of these issues involves the mindset of the decision-making process and each one of us can have different tiny details that have an impact on the overall quality of our trading.
For example, one of the best changes I’ve made while I was trading with real money was getting rid of the “Unrealized” column into my broker software setup. As you may know, it shows the live profit/loss until closing the position. After having some bad trades, I realized that number was influencing my trading style. In fact, I wasn’t able to focus just on the technical’s of my trades. Believe it or not, my performance got a significant boost after making this little change.
In general, understanding how to be successful at this psychological game is what will make your trading habits sustainable in the long run.
Tips & Tricks
Here are the two main pillars that new traders need to focus on in order to establish the ultimate winning attitude:
- Knowledge: being technically educated means knowing the strategies that have been proven to work.
- Acceptance: respecting the trade you’ve planned means take profit at the target and, more importantly, stop out to trim the loss.
The sooner you make these concepts your own, the faster you will turn consistently profitable.
Going further inside those, here is a list of practical suggestions to win this inner battle:
- Invest in education from valuable sources that have been proven to be successful. You can bet they’ve already gone through all of this before and found out how to properly win the trading game. Once you’ve selected the best material, give yourself enough time to deeply study it.
- Embrace your losses because they are going to be your best teachers. Think of every one of them as a great opportunity to learn a new lesson rather than immediately acting to make up the loss. Trading for revenge is what has blown up more accounts than any other bad practice.
- Keep tracking your performances and use that data as the input for making proper adjustments to your own trading style.
- Establish goals that are clearly measurable and feasible so that you can continuously raise the bar as you reach them.
This is why becoming a WarriorPro student and being involved in the Warrior Trading community has been among the best possible choices I have made.
See you in chat-room!