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Checklist for Successful Trading
Started:January 5th, 2010 (01:42 PM) by George Views / Replies:6,483 / 0
Last Reply:January 5th, 2010 (01:42 PM) Attachments:0

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Checklist for Successful Trading

Old January 5th, 2010, 01:42 PM   #1 (permalink)
Elite Member
Futures Experience: Master
Platform: TT, NT, MetaTrader
Broker/Data: Velocity Futures, MB Trading
Favorite Futures: EUR/USD
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Posts: 401 since Jun 2009
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Checklist for Successful Trading

Here's a list for you guys in order to manage a successful trading process. Use this list as a guide in order
to link yourself around this forum and improve your knowledge in the areas you need:

* Get a good and a solid knowledge and understanding of the markets your are trading.
* Get yourself the technical expertise on how to trade your markets.
* Develop a sound trading methodology with a proven edge.
* Develop a trading plan based on your method.
* Be sure to have sufficient capital.
* Learn to think in terms of probabilities, rather than emphasis on the outcome of any one trade.
* Get yourself good money management rules.
* Get yourself mentors or seek out experts and peers to gain trading knowledge.

* Assess the risk first, profits second.
* Employ a set of trading rules.
* Get yourself a foundation of daily routines, including mental preparation.
* Learn to always use of stop-loss protection.
* Learn how to maintain a high level of confidence and a positive attitude.
* Commit yourself to the process of trading.
* Have perseverance.
* Take 100 percent responsibility for each and everything that happens in your trading.
* Learn to get in the habit of forgetting your last trade, win or lose, and move on to the next trade.

There's a big sea of knowledge here on (formerly BMT)F. Use this list in order to work on your skills, and in order to develop your plan including all of this.
The day you'll be mastering all the above, then you can start looking forward to get back plenty of reward from trading.

We all struggle to make tomorrow look like yesterday!
Get rid of your past and let the future unfold from the now.
Past performance is not indicative of future results.
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