Hi Everyone,
It has been a while since I have done an educational post. Felt that I have to share these characteristics that a trader should have.
(KNOWLEDGE and EFFORT to learn)
First of all, trading is not difficult. BUT it is not that easy either. What all traders need is effort. Put the time into learning, exploring, understanding, improving. You first need to understand the market and know what you are doing.
Simple, just think back to the the first time you started driving a car. (Sorry to my younger readers, maybe you can think back to cycling a bike). There we so many things to do and remember when you drive, but you need to know your car. Brakes, accelerator, gear, signals, lights etc etc. Same as trading - charts, candlesticks, patterns, time frame, spreads etc etc etc.
(CONFIDENCE)
The whole idea about trading is to gain that special edge over the markets. To achieve this, you will have to test out your strategies, improve it and keep trading it. I am not talking about testing out 5 trades in this week and you are ready to go. I am talking in terms of hundreds of trades over months/years. Back test the strategies
Once you established that you have a positive expectancy, that is when you know you got it.
Same thing, think back to your school days. (My younger readers are still currently in school, so it is easier for you to imagine). Try to remember the time where you walked into an examination room and you didn't manage to study for it. Did you feel anxious, nervous, panic ?? You are feeling the lack of CONFIDENCE.
Similar in trading, if you don't know what you are doing and you have not tested it before, you will never be confident of the system.
and lastly.....
(DISCIPLINE)
If you have the knowledge and a reliable method of trading. Reliable means a system with a positive expectancy. There will be winners and losers but in the end, you will be profitable. (please please please run away from those people promising you a 100% win rate trading strategy)
Stay discipline and trade your system over and over again. Wash and rinse, wash and rinse, your clothes will get cleaned. This is when I call it Trading in the Zone. Just trade what you see and it has become a second nature to you !!
As all of you would already have known, my discipline is in Harmonic Patterns Trading. I'll just trade what I see. How I wish I could see charts allllllll the time, but it is just not possible. That's where I reply on your guys in my trading community to share. 2 heads are better than one and definitely 100 pair of eyes (with the same trading rules) will be able to spot better trading opportunities together.
Thank you all for following me here !!
I see a potential Gartley setting up again on EURUSD H1
Trade well and trade safe. Cheers