In this post, I would like to share with you my ideas, which will explain the difference between successful traders and those who lose money all the time and provide the answer to this question.
There is a well-known fact that in the financial markets, about 90% of traders fail, and 10% of traders at breakeven and profitable.
I have been trading for 12 years, and in the beginning, I made tons of mistakes. I was in a group of 90% "successful" traders. I tried to understand where I was wrong and what should I do to get out of such a situation. I have spent years searching for my own path in the financial markets. And one day I realized - there are no secrets in trading. There are no unique and super-profitable trading strategies or tools which will make money for you all the time. The attempt to find something like "Money Button"- it is the path that leads to nothing. You spend your time trying to find something super-profitable, something which will give you only profitable trades, something which will make you rich very quickly. But there are no such tools or trading strategies.
I understood that for becoming a successful trader, I had to change my approach and focus on really important things. What are they?
You should understand as quickly as possible what your goals in trading are? If you like trading as a game, ok - no problem. Play with money but forget about a stable and profitable income. If you really want to become a successful trader and get financial freedom, you must manage trading as a business. You must work and work hard sometimes in order to reach your goals.
You must combine the most important elements of profitable trading, such as:
- Knowledge probably is one of the most important elements of any profitable trading. Without knowledge, it is impossible to become successful in any field. The same goes about trading. It does not mean that you have to learn the whole theory about , . It is possible to pick an interesting direction and develop yourself in this direction. Do you like technical tools like line, levels? No problem - learn as much as possible about trading based on these tools. Do you like indicators? No problem. Do the same. Add the knowledge about your favorite trading tools to knowledge about money management and , and you will get a powerful combination. Doing it, you will make a huge step forward to your goals - profitable trading and financial freedom.
- Experience is another important part of profitable trading. You must collect your trading experience step by step because it will help you to avoid mistakes and improve your trading. To become more and more experienced trader, you will know better what you can do and what you must not do. Experience, in combination with knowledge, makes a solid base for your successful trading.
- And one more important element which you must have if you want to become a successful trader - it is discipline. You can have the perfect knowledge and amazing experience in trading. You can use the perfect trading strategies. But if you don't have the discipline to follow your trading plan, you will fail. It is just the question of time.
If you get these three key elements, you will make the huge step forward and move to profitable trading as close as possible. The problem is - not many novice traders want to put efforts into getting knowledge and experience. They prefer to follow their dreams about "Money Button" and search for ways which will make them rich very quickly without efforts. There are no such tools or ways.
If you want to become successful, you must work hard to make your dreams come true. The difference between 10% of successful traders and 90% failers is in the efforts they put in reaching their goals.
You want to know "Why some traders fail while others make money? " and the answer is very simple. Successful traders worked hard to become successful traders. Failers want to become rich do nothing for this.
Think about yourself and your trading. Do you want to become one of the successful traders and get financial freedom? If yes, what do you do to reach your goals?
P.S. I know that Tutorials does not have the value on TradingView. But I think we must change this situation. I will be grateful if you support my post by your LIKEs and comments! I don't buy views and likes and that's why your feedback is very important for me! Thank you.