6 Things I Stopped Doing To Become A Profitable Trader

6 Things I Stopped Doing To Become A Profitable Trader
Spread the love

Profitable Trader

Certainly! Here’s the passage with the passive voice removed:

“Everyone talks about what you should be doing to become a profitable trader, but no one really talks about the things you should avoid. I’m a big fan of cutting out the nonsense, cutting out bad habits, bad traits, and bad things that you have in any skill set you’re trying to master. The moment you cut out the bad, you automatically start improving. In this video, I want to talk about the things that you should stop doing today, right now if you want to become a profitable trader. Let’s start with the first one.

Avoid looking at a trade on what you will potentially make. How many of you have looked at a trade before, and before you even got in, before the trade has even moved in your favor, you start automatically taking your calculator out, and you start looking at what will I make? If this trade goes up, I’ll make ten thousand dollars. If this trade goes up, I’ll make five thousand dollars. You start going into the zone of what will happen and what you will make, and so on. This habit is really bad. This trade is just something you have to get rid of. The reason you have to get rid of this is the moment you start looking at the positives of your trade, you start getting a bias. In return, what traders start doing is they start avoiding their stop loss.

Strategy Hopping

The next one is strategy hopping. Now, I see so many traders. They find an edge, they find a strategy that works for a week, works for two weeks, and the moment that strategy doesn’t work, they go on and look for the next strategy. Now, I do agree as a trader, we have to have multiple strategies. We have to have strategies that fit and work under certain market conditions, and we know how to respond to. But if you do have a strategy and it stops working, your first job should be to understand why is the strategy not working? Am I doing something wrong? Did the market shift directions, or is the market not catering to this particular strategy? But most traders, they don’t look at that. They just go, ‘Well, hey, I’m not making money doing this. I’m going to go and look for something new.

Next, try to catch tops and bottoms. I always tell traders, our job is to take as much as we can from a move. We don’t have to take the whole move.

The Fundamentals

Certainly! Here’s the passage with the passive voice removed:

“I do have an issue when new traders come on board, look at someone alerting something, saying ‘I’m buying this, I’m selling that,’ whatever the case is, and they tend to copy without understanding the move, without understanding the risk, without learning or taking away from it. Number one, most of the time, it doesn’t work. There are very few people whose alert services are actually okay or good; most people, it’s not good.

So those are some of the things that I think you guys should cut off from your trading. Like I said early on, guys, when things don’t work, sometimes instead of overcomplicating and adding things, start taking things away. Start looking at things that aren’t working. Even in your personal life, I do the same thing. In my personal life, when things get too chaotic or too much, I go down to the basics, and I’m like, ‘Okay, let me go down to the basics, the fundamentals, and let me see what are the things I’m doing in my life that I should not be doing.’ Once I start removing them one by one, my life starts drastically improving. The same thing happens in my trading.

admin

Leave a Reply

Your email address will not be published. Required fields are marked *