How to become a better trader?
This morning when I was looking at my charts, and seeing all the volatility in the market since the big 10% drop (February 2018) and the rally back, I can't help but thinking how frustrated, mad and anxious I felt when it comes to trading...and knowing these simple steps helped me go through hard times.
3 easy steps to become a better trader.
1. Don’t force it
Don’t force a trade. Don’t force yourself to take a trade if you don’t feel like it. The more pressure you put on yourself, the worse the decision you’re going to take.
2. Seek Simplicity
Simplify your trade and your life. Think about all the superfluous indicators you can remove from your charts. The more complex and complicated you try to make your charts, the less genuine they will be. Not only that, but you will just end up confusing yourself. Often the simple trades are the most profitable.
3. Trading as a journey
Trading is a journey. There is no final destination. Trading is about learning every step of the way. Learn to enjoy every process of the way. Just like a road trip– the journey is always more enjoyable than when you reached the final destination.
There is no “perfect” setups or trading strategy. Rather, seek the one that fits you the best. For me, that means the simplest and most consistent strategy for my risk tolerance level.
You want to become one with your process. You want your process to become an integrated part of you.
Perfection doesn’t exist in trading. Rather, you are trying to constantly refine yourself. To make yourself a little less imperfect everyday.
That means everyday, trying to remove some of your flaws, and improve. A good way to think to improve yourself is to take one small step forward everyday.
Seek to have fewer distractions in your trading process everyday.
That might also mean to take fewer trades . To only trade what you consider is the best setups.
Perfection doesn’t exist, but we can all strive for constant refinement.
You will never reach perfection, but why not seek it?
VTL
