Today is exactly 6 years from the time I placed my first trade, this really feel strange, this 6 years passed so fast, but that only prove that this quote is true “Time Goes Faster When You Enjoy What You Do“.
Let me be honest, the last six years was not so easy as walking in the park, as I first thought when I decided to become a trader. But trading made me a better person for sure and I’m really glad I’ve started this amazing journey.
Now there is probably hundreds of things that I would like to tell myself 6 years ago, but I think there is only one that’s crucial:
“Successful Trader Is Combination of Good Strategy & Iron Discipline.” Nicola Delic
I already know that you want to make money FAST, and you want it to be without working hard (ideally 5min per day working from bed)…I was just like that, I wanted just 20-30% gains per trade and million dollar in my bank account in just 30 days…But after failing with this idea, I learned to be realistic with myself, because the forex market is just like building a business, all you need to have is good strategy and you need to be disciplined enough to follow your strategy until you reach your goal.
Try to find a strategy that suits your trading lifestyle, for me strategy that worked best is “Elliott Wave” but you need to find your own… Everyone is different as a person, someone like fast lifestyle (if you are in this group try day trading) and someone like slower lifestyle (if you are in this group try swing trading). Go and try few strategies, find what’s working best for you and stick to your plan…
After you find the strategy, you need to learn how to become a disciplined trader, and being disciplined trader only mean follow your strategy rules always and not letting emotions run your trade anytime… Let imagine this scenario, I have EURUSD long position and on the forums, chat room, twitter everyone is talking about short, I really don’t care what anyone else think because I know why am I holding long and if trade hit stop, that’s fine because I’m the one who did analysis of the market and entered this trade, not Mike, Kerry or anyone else… or scenario 2, I’m holding GBPUSD short position, that’s currently in profit +100 pips and something happen and my invalidation is reached, immediately I know that trade must be closed right away, maybe market will return lower or continue to push higher (only thing I’m sure is that there will always going to be something else to trade tomorrow, so I don’t want to risk money if invalidation is reached). So never forget to be a disciplined while you are trading towards your goal.
Hope you enjoyed reading this article, and the next best advice that i can give you is to try to enjoy your trading career as much as you can.
P.S. My trading DVD is out today, so if that’s something interesting to you just click here.