tradewonk
Education

Elements of Successful Trading

FX:EURUSD   Euro / U.S. Dollar
There are three key principles that you should by all means know about and that can turn you into a winning trader.
I in my book came up with a different formula for the success of a trader. Success = Exact entry point + Optimal support of the transaction + Exact exit point + Money management (lots) + Risk management (stop-loss, take profit) / Psychology.
Ratio: 20% own trading system / 80% trading psychology.
I am just writing a series of articles on this topic. Today I published an article about swing trading using the CCI indicator.
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It's worth noting that this stuff won't work just thought out consciously.

It has to soak into your subconscious and unconscious ... all the messages and elements of what trading is about.
As well as a positive and balanced realistic self image.

Self image is everything -- having 90% accuracy and 10:1 R/R is useless if your inner unconscious mind has
muddled/other ideas outside of the plan on what to do. If you can't see and feel yourself being disciplined and patient,
making money, etc. you won't.

I think this is why there are so many cases of people getting stuck losing money for 10, 20 years etc.
It's a hard core reality of the business.

I think more traders should talk about the unconscious mind and habit formation as it evolves from there. I know I will!
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tradewonk iorek65
@iorek65, True.
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behavioral_e tradewonk
I believe this pyramid is actually dynamic. The trader that has the will, will work through these 3 elements continuously over his learning curve, until he finds the perfect balance that will lead him to find himself and the consistency needed become a profitable trader. Might look like basic stuff, but in reality, its all there is. good job
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tradewonk behavioral_e
@behavioral_e, Thank you!
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Brilliant...thank you sir..
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tradewonk SrinathPadma
@SrinathPadma, Thank you!
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It's true that all the trader needs for best psychological trading.
Have a nice day sir :D
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@Tanzil, Thank you!
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Thanks, you give a lot of useful information ;)
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