How Professionals traders Started there Journey in Trading?

Trading Discussion
1

Traders start with zero skills.

First they learn the lesson of risk management through big losses.

Then they learn they must get their trading psychology right to be able to hold on to winners long enough.

Then they learn neither of these manner if they don’t have a profitable system with an edge.

It’s a journey.

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2

How many professionals do you know? I’d say that is entirely wrong for the majority of professionals who trade other people’s money for large institutions

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4

it is - but not the one you’re describing, at all: professional traders are not trading CFDs, for a start … :stuck_out_tongue_closed_eyes:

5

90% of traders lose money every year.
8 steps to go from 0 to trading success:

  1. No trading edge No money
  • You can’t win without a trading system
  • Your system is your most important trading weapon
    Find edges. Create rules. Build plans.
  1. Edge + Confidence = No limits
    The best system in the world is useless without the confidence to execute it
    Build confidence:
  • Win trades
  • Reduce your risk
  • Backtest your system
    If you can trade fearless, your potential will be limitless.
  1. Follow the laws of trading
  • Plan your trades in advance
  • Follow your rules
  • Review your trades
  • Learn from your mistakes
    Every successful trader is a disciplined trader.
  1. Trading success is 99% experience
  • Losses, mistakes and failures are the best trading teachers
  • Every day you learn new things
  • 1 year of active trading is better than 10 years of reading books and watching video
    Show up. Trade. Learn. Repeat.
  1. Think in probabilities
  • Trading is not a 100% certainty game
  • Everyone can win the next trade. Everyone can lose the next trade.
  • Your edges won’t work every time
  • It’s not about how many trades you win, but how much you win
    Be a trading casino, not a gambler.
  1. Risk management is the best defense
  • #1 priority = survive
  • You can win for 300 days, but lose everything in 1
  • Study and improve WR and RRR
    Trading success = Edge + Probability + Risk management
  1. The most important trading skill

You can’t win if you can’t:

  • Wait for your setups
  • Wait for your trades to develop
  • Wait for your success along the way

A trader who mastered patience is already halfway through trading success.

  1. Become a successful trader
  • Find an edge
  • Build confidence
  • Build discipline
  • Follow your rules
  • Get experience
  • Think in probabilities
  • Control your risk
  • Develop patience
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