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4 Things Traders Must Do To Be Successful

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If you have a passion for trading, Dr. Brett Steenbarger has some choice words for you: you're not going to make it. Instead, traders need to be passionate about markets. It may sound like a minor distinction, but it's not. In decades of working with billionaire hedge fund managers and traders, he's found that traders that are passionate about trading don't put in the work and trade too much.


To be successful trading, Dr. Steenbarger has learned:


  1. A rule of thumb for how traders should control losses so that they never lose more in a morning than they can make in an afternoon, more in a day than they can make in a week and more in a week than they can make in a month;


  1. Why traders should not just focus on minimizing their weaknesses, but also maximizing their strengths;


  1. A simple trading journal that will help you improve each day; and



  1. That the best traders are ones that embrace losses and use them to become better.


Author: Dr. Brett Steenbarger


Source: https://blog.topsteptrader.com/brett-steenbarger-limit-up-futures-trading


www.tallinex.com wants you to make money from the markets.




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Well keeping a journal is a difficult thing for many traders. lol I myself am not keeping one but I feel the need to keep one. It would be good if people keep one.

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One thing that i have learnt is to cut losses as soon as possible rather than hoping of any magic to happen. On the other hand profits should be allowed to run with a trailling stop loss. It is tough but possible. 

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whaaaaat keeping journal every day? It's weird... We live in the century of technology, why not use digital tools?  

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