The Best way for improving your profitability as a trader

Understand why you should trade some positions that help you be 100% prepared. There are other objectives and goals that you want to achieve and satisfy needs that have nothing to do with income. 

Ask yourself these questions:

  • Why is trading so vital to me? What characteristics do I want to have as a trader?
  • How can I distinguish myself from other entrepreneurs and keep my “particular brand” within my business?

The clearer you have this, the more your motivation will increase, and the more committed you will be to the goals you have set out to achieve.

Make first steps be easy.

Often, a small change helps to improve; if we have a way of acting that works for us, we have to perfect it to the maximum.

We will suppose that we are very good at operating market turns with a series of specific characteristics, those that must be promoted. Our account will possibly go up and make us have more confidence.

We have to be aware that we will always be better at the things we train.

 Reflect on the steps to understand and carry them out

It is useless to visualize the steps to become a trader if you do not get to practice and develop them later. You must commit to your vision and make it a reality daily.

Still, when you have to stay home studying technical analysis or practicing in a demo instead of doing something fun with friends, things get more complex. 

In this sense, we recommend making a list of your daily progress because you will give a little emotional and mental boost to your motivation every time you see how your evolution is going.

Implement a disciplined exercise.

This is not about observing the observer but on doing something that you have said you will do and maintaining it over time. For example, you decide that you take a cold shower, and that is what you do. You decide what you will do 15′ of functional exercise every day, and that is what you do. You choose not to scratch yourself, and that is what you do. You decide that you will start the day by making the bed perfectly, and that is what you will do. You decide that you will fast, and that is what you will do.

You choose the size of your engagement. You can’t do it for anyone. It doesn’t matter who knows. You do it because you have decided. You have said that you will, and now you will bend your will and put the excuses aside. Therefore, I suggest that you start with minor commitments and work up from there. What we want is to learn to keep our obligations.

Focus on your strengths

We all have areas that we do best and sites that we do worst. This time I invite you to identify your strengths. What do you stand out for? What are you particularly good at? If you spoke with those who know, you best, with your friends, with your acquaintances, with your family, what would they highlight? Your talents, whatever they are, should be in your favor.

In addition, do not think you should limit yourself to technical skills like; I am very good at math, or I am very good with spreadsheets. If this is so, great, take advantage of it. Shred the data, look for the quantification of your windows of opportunity and your management strategies, put those talents to work for you, but it also works with more “soft” virtues. 

If your friends tell me that you are hilarious and always have a funny comment about dropping through that little mouth, take advantage of it to your advantage. That is great because it will allow you to take the iron out of series of damaging operations, for example. Taking the process with humor will give you distance and will enable you to remain detached.

 Do not chase money; chase your setups.

Do not rush to chase the price; do not jump into the market when you see an accelerated movement. Think differently; focus on locating your setups: the set of elements that you know give you an advantage when they happen in a certain way, in a particular area.

Do not chase profits, do not seek to win so much in a trade, get rid of that short-term mentality that can trap you in improper management. If you think about what you are going to win, you can disregard the rules of your TP. Greed, or fear, can blind you to what is truly important: that you follow your rules. They are the ones that give you an advantage.

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