As I mentioned in my article about traders lifestyle, it takes a lot of dedication and hard work to succeed in trading. It’s an easy business to get into, but it’s not so easy to become professional.
I know very well from my experience what it takes to become a successful trader. It’s a great business that gives you financial freedom and time to enjoy your life with people you love.
My way to success was long, but I had a strong desire and was passionate about trading. I dreamed about a large home and traveling, and I made my dreams come true. I help others to succeed in this business, providing managed accounts with high ROI. I have made millions in this business, and in 2016, I was nominated to Women in Finance Awards as a female trader, who turned $10k into $3 million in a few years of trading.
I want to share with you easy rules that became the basis of my success in trading. So, let’s go:
1. Trading is a business. If you want to become successful, you have to be ready to work hard and spend a lot of your time to learn markets and build your trading and investment strategy. Like any business, trading incurs expenses, losses, taxes, uncertainty, and risk, and these factors must be taken into account. Like in any other business planning is half of your success.
2. Planning. I like a well-known saying, “Plan your trade and trade your plan.” The right trading plan is based on in-depth market research and analysis, money, and risk management. Each trade is your small business. So, you have to be sure it’s worth your investments.
3. Discipline. Avoid emotions in trading and always stick to your rules and money management.
4. Manage risk and protect your capital. Properly managing risk and protecting trading capital is what keeps traders in the game. Most of the beginners dreamed of becoming rich very fast and beat too much on one trade, but it never ends well. Building wealth takes time, planning, and sound risk management. Trading with a stop loss or hedging helps to protect your capital.