Trading Essentials Framework Steps of a Successful Trader

Transcription

1 Trading Essentials Framework Steps of a Successful Trader Trading Concepts, Inc.

2 Trading Essentials Framework Steps of a Successful Trader By Todd Mitchell Copyright 2014 by Trading Concepts, Inc. All Rights Reserved This training program, or parts thereof, may not be reproduced in any form without the prior written permission of Trading Concepts, Inc. No claim is made by Trading Concepts, Inc. that the E-Mini futures trading strategies shown here will result in profits and will not result in losses. E-Mini futures trading may not be suitable for all recipients of this Training Program. All comments, trading strategies, techniques, concepts and methods shown within our Course are not and should not be construed as an offer to buy or sell futures contracts they are opinions based on market observation and years of experience. Therefore, the thoughts expressed are not guaranteed to produce profits in any way. All opinions are subject to change without notice. Each E-Mini futures trader/investor is responsible for his/her own actions, if any. Your purchase of the Trading Concepts Comprehensive EMINI SUCCESS FORMULA 2.0 Mentoring Program constitutes your agreement to this disclaimer and exempts Trading Concepts from any liability or litigation. Important Notice - Risk Disclaimer: E-Mini futures trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures market. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures contracts. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in our training program. The past performance of any futures trading strategy or methodology is not necessarily indicative of future results. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual E-Mini futures trading. Also, since the E-Mini futures trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated futures trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those that may be shown. Trading Concepts, Inc. 2

3 Table of Contents Steps to Help You Become a Successful Trader... 4 Steps to Achieve Your Trading Goals... 6 Trading Concepts, Inc. 3

4 Steps to Help You Become a Successful Trader 1. Learn From Role Models (Mentors) This is probably the most important step in becoming a successful trader, although very difficult to find. Why reinvent the wheel when you can learn from a successful trader(s) who has been consistently successful for a long time? They ve already paved the way by studying, by experimenting, and by trading successfully in realtime; in short, you must learn from successful traders who have made the journey before you. They can tell you what works and what doesn t; in short, they can show you the correct and profitable way to trade without you having to make the mistakes (which can translate into a lot of lost money, not to mention time). You must also select the right mentor (role model). A mentor that can make you a better and more successful trader one that can help you achieve your goals. You ll also be able to learn from their mistakes. In general, you must take advantage of the lessons learned from successful traders who have already done it. Once again, what you need is a Role Model(s), traders who are easily accessible and can really show you the ins and outs of trading. We know that what we re teaching you here in this Program will give you exactly what you need to be a successful trader/investor. But Please Remember: Tuition Alone Does Not Guarantee Success; our Program requires a personal commitment to excellence. We do not promote the idea of wealth without work. Furthermore, we strongly advise you to be highly skeptical of any program, service, or system promising phenomenal results with little effort. 2. Establish Good Habits The only way to establish good habits as a successful trader is to be extremely organized. Getting organized will immediately start to put some discipline in your life and give your day the structure that everybody needs. If you re not organized, you may set yourself up to be unfocused and ultimately to fail. Do your homework and prepare yourself each and every day. A successful trader must learn everything that he/she can in order to trade the markets. We can t begin to explain how important it is to have good habits when it comes to successful trading/investing. Without good habits, you are doomed to fail eventually. Trading Concepts, Inc. 4

5 3. Set Realistic Goals Goals are really important in trading. If you don t have trading goals, how do you expect to become a successful trader? Your trading goals can only be achieved through hard work and making sacrifices. And that goes for any type of goal you set out for yourself, not just trading. Goals are the individual steps that we must take in order to reach our dreams (i.e. to become a full-time, professional trader). You must also be willing to push yourself consistently to attain your goals. Get excited about reaching the smaller goals, because a bunch of smaller goals eventually lead into reaching your bigger goals. Just realize that striving for excellence striving for success is a never-ending process. Never stand still, always continue to try to get better. To be a successful trader, you must have a goal. Goal setting starts with a pad of paper, a pen, and you; a GOAL is created in three parts: (1) First is the mental picture; you must be able to visualize your goal(s) and where your goal(s) will take you, (2) Second is when you write down the goal(s) to help add clarity and dimension, (3) Third is when you take action towards achieving the goal(s). The best opportunities in life are the ones we create. Goal-setting provides you the opportunity to create a great life. If becoming a professional, full-time trader is your goal, there is absolutely no reason why you can t achieve that goal. Goal Setting: You must be Decisive Write Down your Goals Involve Others (a Mentor) Stay Focused Plan Thoroughly Take Action Reward Yourself Maintain Personal Integrity Expect Plan Changes Trading Concepts, Inc. 5

6 Steps To Achieve Your Trading Goals 1. Be Very Persistent It is persistence that keeps us working at our full potential. You literally must develop a PHD learn-it type of attitude: poor, hungry, and driven. Persistence is the attitude that will never allow you to be content but will always drive you to learn more and to be a better trader. The key is to keep working as hard as you ever have; generally, the harder you work, the easier it is to avoid surrendering to the markets. You must never quit. No matter what, you must make sure that you have a neverending pursuit of your trading dreams this is what persistence is all about. Trading the markets is no different; persistence will keep you in this exciting and profitable business. 2. Always Be Positive Like anything you do in life, you must have a positive attitude, and trading is no different. The problem is that negative people constantly surround us whether we like it or not. When we tell people that we re traders (or want to be a trader), the feedback we get is generally negative unless, of course, you re already successful. The key here is to stay positive in tough times. The rule is simple: the more trying the times are, the more positive you have to be. You must learn to maximize the good times and shrink the bad times to as small as you possibly can make them. Just remember, each time you fail means you are that much closer to success. Trading the markets is no different; the longer you re able to stay in this business, the better you will become. That s why it s so important to get a good education right from the start. 3. Learn From Adversity (Your Mistakes) This has never been as true as it is for trading. You must learn from all your trading mistakes, which oftentimes lead to adversity. The first kind of adversity occurs when you experience a series of failures in the market. This is the kind that can hurt you and leave you doubting yourself. Often when you have a series of losing trades, you start to doubt yourself; that s completely normal. You then have to examine your failure (losing trades) and accept your share of the blame. You have to learn from your mistakes; if you don t, you ll keep making the same mistakes, which can add up quickly to losing a lot of money. The second kind of adversity that strikes us comes from events that we cannot control the personal setbacks or tragedies that we must deal with. We must force ourselves to appreciate all the good that is still around us. Keeping this attitude undoubtedly will help you in your trading. Trading Concepts, Inc. 6

7 4. Make Pressure A Positive Thing Always remember, stress is the enemy. If you let it get to you, it will rob you of your focus and will inhibit your trading performance. Pressure is only a negative if we allow it to be. Correctly identifying what is causing the pressure is the first step, because if we do not deal with the source of the pressure, it will turn into stress and affect our trading performance. Pressure only becomes a negative when we are ill prepared to handle it. If you can take the steps to anticipate how you can deal with the situation, you can actually turn up the volume of pressure and let it benefit you. Pressure can also bring out extraordinary accomplishments. It will help push you, and it will help focus your efforts on your more important trading goals. We urge you to read and understand what was just discussed, because it is truly important information that only will help you become a better and (more) consistently profitable trader. Achieving Your Trading Goals: Write Down your Trading Goals Develop Your Plan List Your Personal Benefits Analyze Your Current Situation Set A Deadline Identify Any Obstacles and Risks Identify Any Sacrifices and Investments Knowledge Requirements Develop a Support Team (Role Model(s)) Reward Yourself Now and Then Trading Concepts, Inc. 7