Trading breakthroughs can come at any time. More often than not they are the result of positive actions that’s taken consistently through all the ups and downs (especially the downs) that comes with trading.
How long it takes doesn’t really matter; nobody really knows. What matters is that you identify areas where you lack, find ways to improve and keep working on it.
What are those positive actions you can take, what are the skills you can work on to improve your trading?
- Journal all your trades and review them regularly.
- If you have a problem sticking to your stops, work on it.
- When you make mistakes, you rectify them and put measures in place so that you don’t repeat them.
- If you are closing trades too soon, work on it.
- Learn to respect risk, learn about position sizing and money management strategies.
- Keep working on getting comfortable with the uncertainties of trading and thinking in probabilities.
- If you find yourself always deviating from your trading strategy, investigate why and work on it.
- FOMO? Fear of entering trades? Find out how you can improve in those areas and work on it.
- Find ways to improve your patience, find ways to improve your discipline and keep working on it.
- All traders have to deal with emotions in one way or the other. What’s your biggest one? How can you minimize its impact?
- Persist.
The purpose of the above list – which is not extensive – is to give you an idea of what you can work on as a trader in order to improve. In the beginning there might be many, don’t get discouraged. Just keep putting in the work, do the right things and don’t give up.
Also, remember that there will always be something that you can work on as a trader; the journey never ends. Make peace with it.
It’s about working hard, doing the right things on a consistent basis, having faith in yourself, believing in yourself, trusting your process and just being patient – breakthroughs will come and the results will follow. Remember, breakthroughs can come at any time.
Thanks so much for reading. Hope you and your loved ones are well and safe. Hope you enjoyed this post.
Thanks and Regards,
Trading SOS SOS