We have heard thousands of sad stories about traders (E-Mini, Forex, Options and Stock) who, for a variety of reasons, failed to achieve their goals they set for themselves when they first started to trade. Â And most of these stories end with the trader quitting the markets altogether after monthsâ€¦ sometimes yearsâ€¦ with much frustration.
Yet, when we delve deeper into the real causes of their failures, we usually find that they made only a few common e-mini, forex, option and stock trading mistakes. Â Weâ€™ve witnessed “novices”, “old pros” and every experience level in between make these same errors. On the other side of the spectrum, weâ€™ve witnessed many traders avoid those same trading mistakes. The end result for these traders is that they enjoy continued trading success.
Youâ€™re probably wondering what the difference between these two groups are? The answer is quite simple when you take away all the excuses:
Traders who consistently win have learned and retained the basics of trading at such a deep level that they can practically recite them in their sleep. These traders have stuck with a trading methodology long enough to make it work for them ÂÂ in terms of Profitability and Consistency.
Therefore, Consistently Successful Traders Have 6 Things in Common:
1)Â They all have a â€˜Trading Planâ€™Â
2)Â They all have the â€˜Discipline to Follow that Trading Planâ€™
3)Â They all are able to â€˜Control their Emotionsâ€™
4)Â They all are able to â€˜Accept & Limit their Lossesâ€™
5)Â They all have â€˜Commitmentâ€™
6)Â They all do â€˜NOT Over-Tradeâ€™
Finally, if you’re an active trader whose profits aren’t where you would like them to beâ€¦or if you’re a new trader wanting to make sure your trading starts off on the right footâ€¦we urge you to find a mentor and coach that will literally take you by the hand and show you how to trade like a true trading professional.Â We here at Trading Concepts know that what we have to offer in our Mentoring Programs will be the smartest investment you’ll ever make – that’s how confident we are in our Mentoring Programs and LIVE Personal Training.
Todd Mitchell is the CEO & Founder of Trading Concepts, Inc. He's been trading since 1994 and has mentored over 12,000 traders from Wall Street to Main Street. He's an expert at developing strategies for creating more consistent daily, weekly and monthly income.
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