During my Training Session This is the Most Important question I ask my Students.
What is really important to you in your trading?
Knowing Why you want to be a trader is very essential for being a profitable trader. They inform you about what sort of trader you want to be and can help you set relevant goals and give you a real sense of purpose in your trading.
There are many ways to answer this question, and again, each individual trader will have a different answer. Some things you can consider in answering this are:
■ How important is your method of trading to you?
■ Where does research for your trade setups and about market conditions fi t into your trading?
■ How about consistency in your trading actions, how important is this to you?
■ Is maintaining adherence to your trading plan important?
■ How important is planning out your trades or keeping abreast of the markets you
trade?
■ What about assessing your performance for the day or week and working to improve
yourself as a trader?
■ Does improving your skills and getting better at something challenging have real
meaning to you?
Note that we are not asking about how many points or how much money you
strive for each day or week. What within trading is of personal value to you? What is
important to you both for your individual trades and for you as a trader? Consider
these questions and other things you believe are important and spend a little time
thinking about what is really important to you in your trading.
One trader said it this way before and after taking the course :
Before Taking the Course
- It used to be that I jumped from one method to another.
- I would read about an indicator or trade setup and would immediately try to trade it.
- I was only Focused on making Money never working on a process
- My Only Goal was to trade on big leverage trade big without any focus on kind of risk i am taking.
After the Course
- I began to realize I was spinning my wheels and really getting nowhere in my trading.
- I began to realize that consistency would only come from me; it wasn’t coming from outside of myself. When I thought about how an expert trader would work, I recognized that following a single method that worked for me and that I had back tested would only protect me from big drawdows.
- Acting when the market favored my play, and being patient
when it didn’t, and constantly studying the markets to see how they
behaved, and also constantly reviewing my decisions and actions—all
of this was of real value because it served as an anchor for me. I always know where I stand. - Being a great trader means acting like one. This is what I know I need to do.
When you are guided by what’s important to you, it helps you to stay on track both during profit period by getting overexcited and loss making period when you feel like leaving the market.