TradingCoach32's profile picture. Day Trading for +7 years. Helping people to become a better trader.

Mark Trades

@TradingCoach32

Day Trading for +7 years. Helping people to become a better trader.

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The 7 things that every successful trader needs to master:


Mark Trades reposted

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Once you decide to stop repeating the same trading mistakes, you will start to consistently grow your trading account. Consistently obey your trading rules and your confidence will grow. Don't chase fast money, seek long term growth. Patience and discipline will make you rich.


Stubborn traders don't succeed. You must always remain flexible and open minded to all possible scenarios. Don't try to predict the market but rather react to what is happening. The faster you can adapt to the markets price action, the more successful trader you will be.


The market is manipulated in a way to screw as many participants as possible. Whatever seems too obvious, usually won't happen until the bias of the majority of people changes. Think and trade the opposite of what the majority expect will happen in the markets.


Patience is the key ingredient for your trading success. Patiently wait for your trading setups to present themselves, be patient in your winning trades and understand that success in trading takes time. The more you can delay gratification, the more successful you will be.


Breaking your rules destroys trading discipline! Don't break the rules and don't question them. The perfect trader does not exist. Aim for consistency, not perfection. Focus on slowly building your trading skills and creating good habits. Think long term and stay patient.


Staying consistent will make you a profitable trader. Consistently follow your plan. Consistently stick to your rules. Consistently wait for your setup. Consistently execute your strategy. Consistently manage your risk. Show up every day. Eventually the results will come.


The market teaches through pain and loss! You will change your behavior when the pain of staying the same becomes bigger than the pain of change. Once you learn, that the only way to consistently profit as a trader is by properly managing your risk, you will become disciplined.


Don't stay in losing trades in hope they reverse. Once you see the trade isn't working get out. If you stay in a losing trade you will lose more money, waste your time and miss out on better opportunities. With some patience you can always find a better trading opportunity.


Successful traders distinguish themselves from the rest in their ability to control their emotions. The main reason that 90% of traders fail is their undisciplined and impulsive behavior. Only the 10% can follow their plan and stick to their rules regardless of how they "feel".


Don't try to predict the market. Find a good risk to reward opportunity and execute it every time. The outcome of 1 trade is unimportant. Focus on properly executing your next 100 trades. Manage the risk on each trade and eventually your edge will play out and make you money.


Patience + good strategy + calm & focused mindset = long term profits. Be more confident in your trading strategy but know when to change your mind and walk away. Look at each trade as just one of your next 100 trades. Do not be attached to a single trade idea.


As we approach the new year make sure to write down 3 things that you did good in the past year and 3 things you could improve on in 2023. Forget what happened in the past. Reset. Refocus. Start a new chapter of your life with a positive attitude. 2023 will be your best year.


Don't be a gambler. Be a trader. Properly manage the risk on every trade and live to trade another day. Trade only when the market presents you a high probability setup. Be patient, the market will present you great trading opportunities every day.


7 things winning traders do: They cut losses quickly. They have a plan before they enter a trade. They let their profits run and scale out of them. They don't average down. They risk less than 2% of their balance per trade. They have an open mind and adapt. They stay consistent.


Be aggressive to make money. Be defensive to keep money. You must have them both to become a consistently profitable trader. Become so skilled in trading that people start calling you lucky.


Trading is 80% waiting and 20% execution. Be patient and let opportunities present themselves. Don't rush into a trade. Never chase a trade. Let it come to you. Patience pays.


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