Ambitious traders should emulate successful investors and traders trading mechanics, characteristics, belief systems and mental traits. Although it seems like the easiest method to do, however there is a reason why only a number of people achieve success in trading.
What actually do Billionaire Traders value most?
1. Opportunity and Abundance.
These billionaires operate from a framework of abundance. They don’t feel the desperation to make money not because they are billionaires but because they know the never-ending opportunities in the market. There isn’t a fear of missing out or a need to rush to participate in the next “opportunity” that comes along. Instead, they normally wait patiently for a trade that has a clear setup or lower risk to come their way. I know this is cliché, but in order to become a successful trader, you have to act and do as if you are already a professional successful trader.
This is one of my preferred quotes to remind me not to trade in desperation by Jim Rogers.
I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, “I just lost my money, now I have to do something to make it back.” No, you don’t. You should sit there until you find something. – Jim Rogers
2. Primary Focus on Performance in the Market
One of the traits of a successful billionaire trader is they value the performance and quality of trades taken. When you start evaluating your trading performance, you will begin cultivating proper trading habits which in turn produces positive results in your trading results. When you start focusing on quick profits, you will forget all the necessary things such as having a proper trading plan, holding your trades longer, proper risk management per trade and many more. Furthermore, you will do whatever it takes to see your equity in your trading account increase which is not the way of Price Action Guru. Most people yearn to make “fast money” which in my experience makes them experts in losing money. You have to come to term it’s about the trading “game” and being great at it while making money slowly over time.
The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder
3. Confident in their abilities and themselves.
Insecurity, fear, self- doubt and hesitation does not help a trader in any way. I have noticed over my years educating students, they can be staring at an excellent price action signal but refuse to take it cause of fear. They doubt their abilities and themselves. Sometimes this is due to not knowing what is your own personal trading edge which I can assist you either with my courses or personal coaching. But moreover, the inaction is due to overthinking.
As a Price Action Guru student, you will first learn and study the fundamentals of the Forex markets which then slowly develop a refined trading strategy which is taught in the advance course Stop Loss Hunting. You will continue to practice it until you believe in it.
The top traders that I’ve worked with began their careers with an extensive study of the markets. They developed and refined models of how to trade. They mentally rehearsed what they wanted to do extensively until they had the belief that they would win. At this point, they had both the confidence and the commitment necessary to produce success. – Dr. Van K. Tharp
I will be going in depth about these trends in my First Step Program and Stop Loss Hunting Course. You see its not always all about the latest strategy out there, but the mindset and psychology behind the trade and inside the trader’s mind. With my experience for over a decade in the Forex industry, my students have leverage on my mistakes and shorten their learning curve by starting on the right path with my courses. With the Right Mindset, Right Knowledge, Right Skills, Right Mentor, all is possible.