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4 Things Traders Must Do To Be Successful

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THESE 4 TRAITS WILL MAKE TRADERS SUCCESSFUL

 

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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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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Honestly, it’s all to do with education for me. If we want to be successful then we need to give highest priority to education and education only. If we do that then we will see results in our favour. I am so grateful to my broker FreshForex, as thanks to their educational setup, it eases out the way for me. And more so, they even got demo and often comes up with freebies in no deposit bonus shape. So, with that one can easily reach the desired destination.

 

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