To do this, you have to focus on where you can do better as a trader.
The markets are always changing, adapting and evolving according to the influx of new volume as well as the algorithms.
In this article, I’m going to highlight some of the areas you can improve your trading performance.
Area #1: Expertise
We have new markets and sectors flooding into our plethora of items to trade.
From ETFs, NFTs, Cryptos, Electric Vehicles, Space tourism, Metaverse companies and so on…
You might have a solid watch list with your markets to trade, but there could be a whole bunch of other high probability markets that fit perfectly with your system.
Head over to Google and type:
The top Metaverse companies in 2022 The top Space Tourism companies in 2022 The top NFT companies to invest in
How many times have you gone to your charts and find you’ve missed trade line ups. Not only that, but they would have hit your take profit by now?
Don’t worry, it STILL happens to me. It’s our job, to write down notes on what is soon to line up and what time we should analyse the markets.
You’re not going to remember if you don’t write it down.
Work on your time management and you’ll find you’ll grab ALMOST all of the high probability trades this year in your watch list.
Area #3: Action and Productivity
You’re on your computer or phone and it’s analyses and trading time.
Now it’s all up to you, to put in your trading levels (Entry, stop loss, take profit and risk levels), and let the market take over. And if the markets have not lined up perfectly, then place some Trading Alerts while you’re at it.
If you take action, you’ll see results. If you think about taking action – you’ll be left with thoughts and no results. It’s time to get more done.
Area #4: Vision & goals
Are you looking to make some real money this year?
Then you need to bite the bullet.
If you have R10,000 it’s a 10 year process to grow it to R1,000,000. Sorry but that’s the honest truth. If you want to grow R100,000 to a million it should take around 3 years.
So, if you found your account grew last year and you’re feeling confident to pump up those numbers, you need to pump up your account to MUCH higher levels.
You’ll still risk 2% per trade, you’ll still take around 40 trades a year. Nothing changes, it’s all relative.
If you want to see growth and wealth, you have to upper your vision.
Area #5: Attitude
Your biggest mental enemy is yourself.
You kick yourself when you take a loss. You celebrate like a king when you take a profit. Cut those emotions out. The next loss is still to come and your next winner is still to come until the last day you ever trade.
Just follow your system, take the trade, bank the winner or take the loser and move on. This is a marathon game not a present oriented activity.
That should give you the kick in the ass you need alone :D.
I can go on with other dimensional areas to work on, but let’s stick to those five for now…
If you enjoyed the article or found it a tad useful, let me know by emailing info@timonandmati.com…
Trade well, live free.
Timon Rossolimos
Founder, MATI Trader
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