Many people wonder, if there is such a thing as a successful trader. Some may say that there is not. But, you will notice, there is a trader. They are successful, because they are a trader. And, if you are going to be a successful trader, you need to learn how to trade successfully.
There is such a thing as a losing trader. It is similar to the winning trader. However, the differences are numerous.
A losing trader will not quit. They can only focus on one thing, that is, making a losing trade. However, a successful trader will focus on many things.
For instance a losing trader will focus on what went wrong in their trade and not what they could have done differently in order to make the trade successful. This characteristic distinguishes trading from running a business.
A losing trader will never quit. They will always want to know what could they have done differently so they can get into the trading game again. However, a successful trader does not care what they could have done differently. What matters is what they did do and then they move on.
A losing trader will spend time analyzing whether they should be in that trade, then they will spend time analyzing why they weren’t in that trade. However, a successful trader never puts the research on hold. They are always analyzing what they are going to trade next.
A losing trader will never quit. They will always be worried about the trade that they are in, why they aren’t in the next trade that may come and the trade that they may get in. However, a successful trader does not spend time in all the trades he or she could be in and they aren’t worried about every trade that may come.
What distinguishes trading from business and management is that a business and a trader are going to be continuously in a state of flux. A trader is constantly trading. A trader is constantly trying different things to make sure that he or she stays in the market.
Losing traders are continuously losing the trade and continually losing the money and continuously making poor decisions. But, winning traders do not quit. They keep trying new things to make sure that they stay in the market.
It is a constant flux. A trader is constantly moving from one thing to the other in order to stay in the market and make money.
Winning traders are not continuously winners in a market. They are always thinking about what they want to do next and how they are going to make money from their next trade.
A trader is constantly moving from one state to another, trying different things to stay in the trade. A winner, instead of winning at the end of the day, thinks “today I want to stay in the market today I am going to stay in and tomorrow I am going to be a winner.”