Chapter 17

Ten Success Secrets of Mentally Superior Traders

IN THIS CHAPTER

Bullet Improving your plan and process orientation

Bullet Managing your money and your opportunities

Bullet Developing your mental edge in trading

In this chapter, I show you the top ten secrets of success that characterize the work of mentally superior traders. If you follow the approaches listed here, practically nothing can stand in the way of your becoming a successful trader.

Gaining the Right Inner Attitude to Trading

If you’re a successful trader, you've come to understand that trading is

  • A business that works according to certain rules defined by the market
  • An ongoing personal learning and development process
  • An area where you have to maintain an emotional distance from your trading positions and focus instead on your strategy and setups and on signals from the markets

Adopting a Process-Oriented Trading Approach

Success means that you understand the importance of processes and that you have

  • Set up your trading processes and systematized your trading
  • Acted solely according to your tested and proven strategies
  • Applied a fixed set of rules with setups that you've tested in a simulated environment so that these ...

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