How To Get In The Top 10% of Traders

How To Get In The Top 10% of Traders
  1. Do all the needed homework and research about your trading style before you ever trade any real money.
  2. Never trade without a detailed trading plan. You have to know exactly what you will do in response to the price action before the market opens each day.
  3. Learn how to maximize winning trades with trailing stops or start exiting in steps and leaving a part of your position on to run.
  4. Trade with the trend in your time frame and quit trying to fight it.
  5. Never have a big losing trade. Position size so all your losing trades are small losses.
  6. Know what your edge is in the market, if you don’t know what your edge is you shouldn’t trade until you have one.
  7. Do not gamble with your trades. All your trades should be unemotional business transactions not thrill rides.
  8. Trade in your ego for flexibility. Stubbornness is expensive but going with the flow pays.
  9. Trade a little bigger when you are on a winning streak and a lot smaller during losing streaks.
  10. Be in losing trades for short amounts of time but when you are right stay in the trade until it stops going in your favor.