In the world of trading, success doesn’t come by chance. It’s the result of cultivating powerful habits that guide decision-making and strategy. Influential works like “Market Wizards” by Jack Schwager and Michael Covel’s “Trend Following” have shed light on these common practices of successful traders. Trading habits and strategies converge to create a roadmap for […]
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Trading successfully requires certain traits. When examining top traders, essential qualities emerge. Based on insights from the wealthy and successful traders featured in the books by experts like Jack D. Schwager and Michael Covel, this post will cover three indispensable traits for trading excellence: discipline, risk management, and continuous learning. For those seeking trading mastery,
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Embarking on the journey to become a stock trader can be exciting and daunting. With the allure of financial gains and the challenge of market dynamics, many are drawn to explore this lucrative realm. In this guide, I’ll break down the six steps to becoming a stock trader, providing you with a roadmap to navigate
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“Trading” and “hard” are words many novice traders often find synonymous. The intricate dance of numbers, charts, and emotions can be overwhelming. However, the complexity of trading began to become more simplified for me when I delved deeper into three pivotal concepts. In this article, we’ll journey through these transformative insights that shifted my perspective
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The book Trade Like a Casino by Richard Weissman first explained using the casino paradigm for trading. His book has been one of the most influential books in my trading career. Let me explain what he taught me in his book. It’s commonly thought that traders are nothing more than gamblers; this is not true
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10 Key Trading Skills To Become A Successful Trader Technical Analysis Trade Management Risk/Reward Ratio Risk Management Trading Psychology Backtesting Historical Chart Studies Sentiment Analysis Trend Analysis Trading System Development 1. Technical Analysis Technical analysis is the art and science of reading charts to quantify the trend or trading range the price action is in,
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Here are the big primary five keys to becoming and staying a great trader. These are the most important principles I have learned over 30 years in the financial markets and the 30-year veterans I have studied also almost all touch on these five keys in some way. 1. Consistency of execution. After you have
5 Keys To Being a Great Trader. Rules of a 30 year Veteran. Read More »
This is a guest post by Cory Mitchell, CMT of tradethatswing.com. Most traders DO lose money. Social media makes it look easier than it is because so many people are posting their winning trades. Availability bias is believing information you see most. Seeing it most doesn’t make it true. Losers just tend to be less public
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Most traders never succeed because they trade without a quantified system with an edge, they trade too big, and they trade based on their emotions, ego, and predictions not price action. This is the opposite of what is needed to be a successful trader. A successful trader uses a quantified system with an edge, trades
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This is a guest post by PattensWizard on Twitter. “No one can predict the market consistently. It is all about odds, statistics, probabilities, and avoiding the risk of ruin.” – Henri Simoes I believe this popular quote from Henri Simoes sums up trading in the best possible way. In life, trading and everything else, if
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