When to FEEL Thrill as a Trader
First let me tell you.
NO you should not feel thrill when you take a profit.
NO you should not feel thrill when you are on a winning streak.
NO you should not feel thrill after a day, week or month of upside.
But I’m not going to be a wet blanket. As a trader, including me, there are times to feel thrill.
Trading is a process, it’s a lifestyle, it’s a game, it’s your control of your financial future.
So let’s explore the times you should feel thrill.
#1: Analyse the markets
A major part of trading is assessing the current state of the markets and identifying potential opportunities.
This involves creating your strategy, finding the indicators that work best and identifying the different systems (chart patterns, trend lines, Smart Money Concepts) etc…
This process is super exciting part on the journey to becoming a trader.
#2: Optimise your strategies
Creating a strategy is one thing.
But optimising and maximising your system is an ongoing thing.
It’s crucial to continuously fine-tune your strategies and adapt to the ever-changing market conditions.
When you identify areas for improvement and make changes that lead to better performance, the thrill of knowing that you’re on the path to success can be awesome.
#3: Search for high probability trades
One of the keys to success in trading is finding high probability trades.
It’s these trades that will offer a favorable risk-reward ratio and a high chance of success (regardless whether they win or lose).
The hunt for these opportunities is always fun and it’s almost like going on a daily treasure hunt.
And spotting the highest probability trades, require a deep understanding of the markets and the ability to spot subtle patterns that others might miss.
When you uncover a high probability trade and execute it successfully, the feeling of accomplishment is also a great feel.
#4: Reading Fundamentals
Sure your strategy might not comprise of fundamentals or news.
But still learning about the markets, companies, indices and other micro and macro aspects, is interesting.
A solid grasp of fundamental analysis is essential for any serious trader.
This involves assessing the financial health of companies, industries, and economies to identify why markets move the way they do.
When you can successfully combine technical and fundamental analysis to make informed decisions, the thrill of knowing you have an edge in the market is undeniable.
#5: Monitor your results and stats
As a trading boss…
You need to track, analyse and assess your trading performance.
You don’t get more power and thrill as a trader, when you have control of your financial markets.
When you see your strategies paying off and your account balance growing, the thrill of your hard work and dedication materializing into tangible results is incredibly rewarding.
Conversely, it’s also thrilling when you analyse your losses where you can gain valuable learning experiences.
And this will help provide insights into areas for improvement and will motivate you to refine your approach.
#6: Find new markets to trade
Do you think I was looking at AI, VR, Metaverse type companies to trade 10 years ago?
Nope! These markets weren’t in fruition with trading as they are today.
So as a trader, this is always an exciting and thrilling venture with trading.
To explore, adapt and add on new markets into your watch list.
When you add and enter these new markets to your strategy, this can expose you to a whole new set of opportunities and challenges.
And this will help broaden your horizons and deepen your understanding of the financial markets.
So now you know when to embrace thrill as a trader.
Use them to fuel and propel you toward achieving your goals.
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Enjoy and remember…
You won’t need to buy or order another book on chart patterns and candlesticks ever again as I will be updating it very often and will let you know.
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