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Motivation for Trading Success

Whenever I am presenting live webinars or conducting Personal Mentoring I am often asked, “What is the biggest impediment to trading success?”  This is a good question and one I’ve given some close thought to because it’s commonly accepted throughout the trading industry that, whilst many are called, few are chosen.  In other words, there is a large drop off from those that set out on the journey of gaining financial independence via trading to those that actually make it a success.

Trading as a Business: Part 1

Successful traders regardless of age, ethnicity or gender share a common trait; that is they all see their trading as a business. Unlike people who come into trading looking for the Holy Grail or a way to get-rich-quick, successful traders are in for the long run. They see and do things differently, and it comes as no surprise that they are still trading profitably when the masses crash and burn.

Creating a Watch List

If you have been trading for a while, you will know that there is no reason to limit yourself to just one market as there are many markets you can trade. However, we only want to apply our trading strategy to the best set-ups, as these carry the highest probability of the trade going in our favour.

Staying In The Right Frame of Mind

One of the challenges faced by both professional and aspiring traders alike is staying in the right frame of mind when trading. In our last article we spoke about the importance of timing, and like poorly timed trades, other factors in life can also adversely affect your trading if you do not have a plan to handle them.

Trading Opportunities at Key Levels

Regardless of the asset class you choose to trade, often you will find that there are key levels where prices tend to return to and bounce off (in the form of support/resistance) or push-through completely.

The Importance of Timing

In trading, timing is everything. As you scan the market looking for opportunities that fit your trading strategy, it can be tempting to do one of two things, both of which are highly detrimental to your long term trading success. It is important to wait for the right timing, simply because this develops discipline and improves your ability to trade methodically.

3 Simple Ways to Improve Your Trading Results

As professional traders we often get asked to share our experiences from when we first started trading. This is a common request and we are happy to share what we have learnt since almost everyone we encounter wants to avoid amateur-ish mistakes. However, just as you can’t fly a plane after listening to a pilot talk about flying, it is unrealistic to expect that you will be able to trade like a pro right from the get go simply by listening to a professional trader talk about trading.

Multiple Factors

Professional traders know how important it is to look at multiple factors when planning their trades. The more reasons or factors you use to back up a potential trade, the higher the overall probability of achieving a successful outcome.

Charts of Interest: EURUSD & NZDJPY

Well we are approaching the end of the week, however there’s still plenty of trading left to be done. The markets have shown some really nice looking charts this week and we thought we would take you through two that are of interest.  

GBPCAD – At a Key Level

Support and Resistance levels can be used as a key element to any trading strategy. They give us a precise area to look for trading opportunities around and visually they are easy to locate.  

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