9 Signs You’re Trading Well
So, you’re probably wondering how you’re doing as a trader.
• Are you rich?
• Is your portfolio shooting up?
• How many winners did you bank this week?
If you think those are the questions to ask – Then YOU’RE WRONG!
As I’ve mentioned many times before. Trading well is a marathon and not a quick race.
It doesn’t matter how much money you banked in a week, winners you took or how much money you have in your account.
What does matter is one word “Persistence”. And with persistence comes, 10 signs that you’re doing well with trading.
Let’s get to them…
Sign #1: You have the passion to LEARN how to trade
When you learn to trade, it’s not only a strategy game but also a self-introspection journey.
You get to understand who you are as a trader in a way that you learn:
• What time you wish to trade
• What markets you’d like to look at
• The instrument you want to buy/sell
• The broker that best suits your needs
If you have the passion to learn what fits your personality when trading, it’s a good sign you’ll do super…
Sign #2: You have a solid daily trading routine
There is no right or wrong way to go about your trading.
Once again, it’s what you feel comfortable with on a daily or weekly basis.
Maybe it is reading MATI Trader first thing in the morning, then going through your watchlist and seeing which trades are lining up.
Afterwards you set your trading levels and take your trade.
Whatever your trading routine is, make sure you have a checklist to follow.
Sign #3: You have strict rules to follow
Rules are the only way to find consistent opportunities within the chaos.
I have three rules with trading.
1. Never risk more than 2% per trade (no matter the portfolio account).
2. Never risk any money you can’t afford to lose
3. Never hold more than 5 trades at any one time.
If you have rules to follow, you’re doing well…
Sign #4: You have tunnel vision
There are no two traders that are the same.
This means, when you know who you are, you’ll know to ONLY follow your rules, strategy and vibe.
If someone tries to change your mind, put your blinkers on and remember the proven strategy you KNOW works.
Don’t listen to others and don’t care about where other traders are in their career.
Sign #5: You have a track record
Whether you’re still demo-trading or live-trading, it doesn’t matter.
All you need to make sure is that you have an excel sheet or written pad with all of your trades you have taken or backtested.
This is will remind you and give you proof of what works and will make you a consistent income during your trading.
Sign #6: You have the time to trade
Right now, most of us are in national lockdown…
We are not sure how long it will go on for or how it will affect our work lives in the future.
You’ll need to choose the time, that suits you best to analyse and trade the markets.
It can be first thing in the morning, during your break in the afternoon or even 2am when you wake up and can’t go back to sleep.
Sign #7: You can psychologically handle it
Trading is mostly mindset.
How you deal with your winners, losers and with your trading longevity.
If you are prepared to mentally handle everything trading comes with – you’re well on your way to a bright trading future.
Sign #8: You have a dream
As much as trading is fun during the process, we all have a future idea on where trading will take us.
Some want to travel around the world and not have to worry about budgeting. Others want to just spend their time during retirement keeping their brain active and seeing trading as a forever-challenge.
Me, I love to trade, teach how to trade and create financial freedom for my future and for generations to come.
What is your dream?
Sign #9: You have your trading system
The game-plan…
Do you know where to enter, exit and place your risk levels every time?
If so, GOOD.
You have a trading system.
I have used the MATI Trader System for the last 18 years, and I’m happy to keep following it for the rest of my life.
If you don’t have a trading system, then it’s also ok.
Either you can adopt mine which I’ve made public as of 2019 or you can follow your journey to creating your own system.
This is all part of trading well.
Trade well and look after yourself,
Timon Rossolimos
Founder, MATI Trader
PS: Did you enjoy the “9 Signs You’re Trading Well” article for the week? I’d love to hear from you by emailing timon@timonandmati.com
PPS: Did you watch the MATI Trader Video for the week? Click below to catch up.