Mental Resilience
Mindfulness
Practicing mindfulness lets you be more objective and less reactive to sudden changes. Try Meditation and active focus exercises.
Self-Awareness
Be brutally honest with yourself and review your trades with as much objectivity as possible.
Constructive criticism is needed—not beating yourself up over mistakes. Instead, use them as stepping stones to improve and learn.
Discipline
You need to be consistent not just with your strategy but also with your mental and physical health. Don’t change your stop loss on a whim because you’re scared of losing—don’t close your trades early—don’t neglect your health—don’t neglect your sleep.
Eat well and drink plenty of water. You need to be consistent and disciplined in all aspects of life to perform well as a trader.
Perseverance & Patience
If trading is something you want to do, then do it. Don’t stop just because you’re not seeing the results you want after a day, a month, or even a year. It’s not always going to be fun to trade every day, and it won’t be fun to keep losing over and over. But if you’re not willing to push through those tough days, your chances of becoming a successful trader are slim.
Emotional Control
You want wins, not losses—we all do. But just because you’re on a winning streak doesn’t mean you’re the best trader ever, and a losing streak doesn’t mean trading ‘isn’t for you.’ You win and you lose.
Don’t let wins go to your head, and don’t let losses bring you down. Use both to learn and improve your trading skills.
The #1 Charting Platform Every Trader Needs
*Button leads to an Affiliate offer
This will close in 0 seconds