Winning Edge Trading: Successful and Profitable Short- and Long-Term Trading Systems and Strategies

CHAPTER 16

The Successful Trader’s Blueprint

Throughout this book, we have explored two determinant factors in successful trading: a profitable and sound system and proper psychological personality traits. In other words, we discussed that utilizing or emphasizing one factor without the other might not lead you to a successful trading career. Moreover, the absence of one of these two factors might not yield a sustainable, consistent, and profitable trading performance. In this chapter, we describe an important step that you should take before you engage in trading. If you have already begun your trading journey, you could use it to boost your performance and ensure a successful trading path.

CONSTRUCTING YOUR TRADING SUCCESS BLUEPRINT

To ensure a successful and rewarding outcome, you should construct a trading blueprint or plan. For that, let’s go over important steps you should consider: motivation, trading style, and trading system.

Motivation

When I ask my trading seminar attendees and traders what their primary motivation to trade is, I almost always get this unanimous response: “To make money.” Of course, you like to make money and enjoy your life with abundance and become financially independent. Naturally, like any other endeavors, one may go into the business of trading or engage in trading for the sake of making money. However, money is a byproduct of doing something well. If you choose trading as your profession based merely on the desire to make money, you will ...