- Trying to become a successful trader is not possible without first becoming a successful person in your own life.
- Many people come to trading with all kinds of emotional baggage.
- They wrongly believe that trading will be the solution to the problems caused by these issues.
Build Up Your Trading Muscles
Start trading very small so that there is no reason to break rules. Judge your trades by how well you followed the rules, not by the P/L.
- Keep a log of your trades and mark up charts.
- Study your trades.
- What did you do right/wrong?
- What could you do better?
- Identify one tactic that you do best.
Meet and discuss your trading with your coach. Eliminate as many variables as possible during your pre and post-market scans, such as:
- Have a small stock universe.
- Have a share sizing chart.
Put this all on to a pre-trade checklist or simple visual trading plan that you in front or you while making your trading decisions, and trade wisely…
Written by Michael DiGioia, Director of Education
Mike is available for One-on-One Coaching. Learn More
