1. Great traders understand diff between looking for a trade and seeing the trade. Remain patient, they always come. When they do it’s obvious.
2. Never forget that you are NOT competing against other traders, algos or bots. You’re competing against yourself. It’s all between the ears. When confronted by failure the easiest thing to do is quit and blame fed, bots and manipulators. Hardest thing to do is look in the mirror.
3. When I observe great traders they ooze confidence and belief in what they do. Something that only comes from years of successful trading.
4. Everybody makes $ in an easy market. What separates traders with longevity is ability to not give $ back when the market gets hard.
5. Don’t confuse breakouts don’t work with not knowing which breakouts to take. The shorter the timeframe the less reliable the break.
6. After a major trendline reversal, the instrument tends to consolidate to flush overhang. From this consolidation the move tends to be explosive.
7. Whipsaw is a trader killer. The root cause of most trader failures can be traced back to whipsaw. Minimise getting whipped at all costs.
8. A hallmark of great traders is the ability to do ordinary things consistently which in turn produce extraordinary results.
9. You can read all you like but until you experience it, you truly won’t understand. It’s the battle scar lessons deeply embedded & never forgotten.
10. Every consolidation & break down creates new overhang. Many now looking to sell into strength, feeds on itself & appears as lower highs.
11. When starting out having secondary passive income does wonders to your trading results. Eliminates the need to trade an untradeable market.
12. Timing the trade is so underrated. If you have ability to nail the break you can really load up and at the same time eliminate whip.
13. What separates good traders from everyone else is that they have no issue being patient & waiting for a high probability major move pattern to set up.
14. Having technicals and narrative align is a HUGE edge. My results improved dramatically overnight after applying Fundamental Analysis to Technical Analysis.
15. This is harsh but it is the TRUTH. If you trade without an edge your sole purpose is to create liquidity for the good traders to sell into.
16. Trade in a manner that suits your personality means trade in a way that exerts minimum emotional capital. Only then do emotions become easier to control.
17. Prevention is the best cure, avoid scenarios that have the potential to destabilise emotions. ALWAYS stay in control.
18. Show me someone that holds a grudge and is easily emotionally unbalanced and I will show you someone that will struggle with trading.
19. Do NOT feel the need to always have to trade. Do NOT force the trade. If the edge (probability) isn’t there then you shouldn’t be trading.
20. When an index moves into a distribution phase after a major trendline breach, chop and wild swings are normal behaviour. It’s called indecision.
21. Two things define you as a trader. Your patience when the market isn’t giving and your attitude when it is.
22. Patience is, always has been & always will be the most underutilised trading tool. There will always be other opportunities, don’t force the trade.
23. Not getting overly excited about profits makes embracing losses easier. Trick your mind into believing it’s a game & the balance is the score.
Discipline should be include with patients