Trader Mindset The Timing of Your Trading Success
Sep 25, 2017
Success in trading hinges on timing as much as on strategies. Aligning your trading methods with market conditions is crucial for profitability. It's essential to minimize errors by crafting a personalized system that emphasizes communication and simplicity. The importance of persistence and discipline can't be overstated for long-term success. Additionally, understanding that the trading year doesn’t start on January 1 opens up new perspectives on timing your trades.
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Timing Crucial for Trading Success
- Trading success depends heavily on timing as much as your trading rules.
- Having a system does not guarantee profits without compatible market conditions.
Manage Trading Frustration
- Take care of your mental health as frustration from losing trades can be intense.
- Develop patience to persist through periods when markets don't align with your system.
Phone-Based Order Execution Story
- Michael Martin shared how he avoided trading errors by using phone orders with a CTA desk for careful execution.
- He described his disciplined method of order writing, reading back, and timestamping to minimize costly mistakes.