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Can you walk and talk? If so, you can be the next master trader!

by , 15 January 2014

“Dear Timon, what makes a successful trader?” - L.P
When L.P asked me this question, I thought it was an easy one to answer because it just takes three things to be a successful trader.
Let's delve into them!
 
#1 Successful traders know what they want


You must remember that just like babies make mistakes when they first learn to crawl and walk, every trader starts out making the mistakes and learning the same lessons.

Every trader needs to learn is what suits their trading personality and their risk per appetite.

So don't get into trades that will keep you up at night.


Before you even think of trading, you should be able to answer these four questions!

Question #1: How much are you willing to risk per trade and not feel a loss?

Question #2: What is your ideal time you want to trade and for how many hours a day or week?

Question #3: How many trades do you want to take every day, week, month or year?

Question #4: What winning strategy are you going to use with strict trading levels like entry, exit, risk and worst case scenario level?

Knowing the answers to these questions will guide you in the right direction to a winning strategy.

And, it will get to the point where you don’t even think about those four questions, and instead, act on them subconsciously.

#2 Successful traders feel confident when they trade

When you know what you want and stick to your strategy, you’ll develop confidence as a trader and for your strategy…

This is the confidence you’ll need to never be influenced by anyone or anything when it comes to trading successfully.

Once you develop that confidence, you’ll then enter into the third phase of trading which will get your trading performance to new highs!

#3 Routine will make profits without you even realising it!

When you’re in your long term state feeling certain and confident with your trading, you’ll then enter into a very serene stage of your
trading career.

Every time your winning strategy lines up, you execute your trade accordingly by following the rules with stella confidence.
 
The more trades you follow, the more trust and discipline you’ll develop with your strategy. There’ll be a time when you  execute the
trades without even thinking about them.

Eventually you’ll enter into a state where trading becomes another normal routine in your life. Short-term feelings like panic, stress and uncertainty will disappear from your trading completely.

You’ll feel calmer as a trader as your trading will become more of a routine just like when you walk and talk.

But you’ll know that in the medium to long term, you’ll be a profitable and successful trader!

Always remember,

“Wisdom Yields Wealth”

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Editors Note: If you'd like to boost your trading performance, success and learn more top insider tips and tricks Timon has learnt over the last decade then follow him on Twitter @timonr. 
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Can you walk and talk? If so, you can be the next master trader!
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