We didn't have time last week to share blog posts and videos but we're here today with both a blog and a video to help you start the new week strong and end April 2022 with success and specialized knowledge!
In todays blog post we will go over a few things every single day trader needs to hear and apply! Lets get going, its getting late in Belgrade!
1. Every trader loses, including YOU!
Not a single, real and profitable day trader, has a 90% + win rate. If they tell you that then they are bull shitting you. Real traders have a win ratio from 40-70%, and this highly depends on their activity and style of trading, don't focus on winning every trade, just win more than you lose, pay attention to price action and feel the market, then you'll feel better when you should hold on to a trade, when to build it and when to close early... basically It’s not about how often you win, it’s about how you protect yourself when you don’t. Regarding losses, you'll have thousands of them a year, as a day trader that is, so accept the fact that you have 0 idea where price will go, when price action goes against you, close your trade... take the loss while its small and manageable!
2. Focus is the only mental skill that you need
I have been trading for 11 years now, I tried everything to get consistency, discipline and patience... I even wanted to quit so many times because I couldn't build or get these skills... right until I started adding simple focus for limited periods of time. Focus helped me be consistent, disciplined and patient... literally just being focused for 30,60 or 90 mins at a time helped me more than anything else, and if it helped me so much, it is bound to help you to become a better day trader!
3. Take it one day at a time one trade at a time! (patience...)
If there is nothing to trade, then trade nothing... just sit and wait for your perfect setup, or just wait until you start feeling the market and do that for just today, then when tomorrow comes do it for one more day... and doing it just for one day at a day will not be so hard.
Don’t chase after success and profits, wait for them, I promise they will both come to your life and trading. T
As traders we get paid for our decisions and not the amount of time we add or trades we take.
Just take it one day at a time, and one day you'll wake up a rich and successful trader!
4. Close the loss for the love of God....
We speak about this in the video below and went over it many times in our blog and tradingview videos... we even went over it in point No. 1 of this blog post, you WILL LOSE money, and you will lose many, many, mannnnnyyy trades... so when you have a loss and it is getting out of hand or just looks like a loser because price action shifted, i.e. your selling but we have higher lows and higher highs, take the loss for the love of God!
Ok, we are done, now finally we also have a bonus video for you guys which goes over quite a bit of specialized information, including motivation, price action, indicators and more!
Enjoy and make sure you subscribe! <3