5 Ways to Improve your Trading - WORTH THE READ
You’re going to need a cup of coffee or two for this one.
It is my longest trading article I’ve ever written.
I’ve written it because I care about you and I want you to succeed.
So, please take the time to read this and save it for the future.
Or if you don't have the time then at least go to the bottom to see the highlights of the article...
Enjoy and trade well!
Part 1 – EXPERTISE
Choose your markets wisely.
There are so many different markets to choose from, that you need to upper your knowledge.
Whether it’s understanding market, assets, securities and instruments – you need to have basic knowledge.
Here are some to consider…
#1: New ETFs (Exchange Traded Funds)
Exchange-traded funds (ETFs) are a popular way to invest in a diverse range of assets.
If you want to improve your expertise in ETF trading, stay informed about new trends and opportunities in the market.
Keep up to date with the latest developments in the ETF industry, such as new ETFs being introduced, and be aware of market trends and movements that may affect your trades.
#2: New AI Tech Companies and Technology
Artificial intelligence (AI) technology is revolutionizing many industries, including finance.
To stay ahead of the game in financial trading, be sure to keep up to date with new AI tech companies and technologies.
See what Google, Open AI (ChatGPT, Dallee), Apple and Meta are doing.
Even some crypto AI companies.
Familiarize yourself with the latest innovations in the field, and consider investing in companies that are developing or utilizing AI technology.
#3: Electric Vehicles
Electric vehicles are an emerging trend in the automotive industry.
Even in Greece and Europe, we are seeing more Teslas on the road and electric garage stations.
And they are expected to have a significant impact on the global economy, environment and with the automotive sectors.
Stay up to date with the latest news and developments in the electric vehicle market, and be aware of how it may affect your trading strategies.
#4: Space Tourism
Space tourism is a new and exciting industry that is attracting significant interest from investors.
Keep an eye on the latest developments in the space tourism market, including new companies (SpaceX, Virgin Galactic and even Amazon technologies.
#5: Metaverse
The metaverse is a virtual world that is becoming increasingly popular, and it is expected to have a significant impact on the way we live and work.
They are here to stay, improve and evolve. From virtual reality, augmented reality and a mixture of both.
Get yourself a Quest headset (or wait for the Quest 3) and see the new opportunities in the space. Don’t get left behind.There are many other areas of expertise of industries that you should be aware of.
Just do a bit more research and incorporate them into your trading and investing lives.
Part 2 – TIME
Time is all we have.
It’s also something you can’t get back but it’s something you can utilise and take advantage of.
With trading, you need to use your time wisely,
In this part we will talk about how you can improve on this aspect.
#1: Be Punctual
One of the most important aspects of successful financial trading is being punctual.
Be sure to arrive at your trading desk or platform on time.
Be ready to take action when the markets open.
Be prepared for when trading opportunities align and when they are ready to execute.
Don’t miss these opportunities, because it just takes ONE big one to take your portfolio out of your drawdown and in the green.
#2: Don’t Miss a Day
Missing a day of trading could lead to missed opportunities and lost profits.
Be sure to stick to your trading schedule and avoid missing any trading days.
And if you miss a day, make up for it the next day. Spend extra time on analyses, execution and even during your evaluations and tracking of your portfolio.
#3: Set a Reminder
To help you stay on track with your trading schedule, set a reminder on your phone or computer.
Even better. Set an alarm for when you know you need to trade.
Time slips by so quickly and we can get distracted in the day.
How many times have you forgotten to have lunch, drink water and miss your favourite TV show?
Use your timer and set reminders with trading. This will help you to stay focused and ensure that you don’t miss any important trading opportunities.
#4: Sticky Notes
Sticky notes can be a helpful tool for staying organized and focused when trading.
Use sticky notes to remind yourself of important dates, deadlines, trading setups, ideas and trading strategies.
Also use sticky notes to maybe have a plan on what you need to do as a trader that day.
They help and are great to bring to your notice with the actions you got to take.
Part 3 – ACTION
Without action, it stays a dream.
Without action, it stays an idea.
Without action, it stays a what if…
You need to DO instead of SAY.
You need to ACT.
That’s what this is all about with improving another area with your trading.
#1: Place Your Trading Levels
Don’t just look at what is lining up.
Write them down on sticky notes.
Have them all drawn up on your charting platform.
And make sure EVERY detail, trading level and reason is somewhere you can see.
Then you have no other choice but to set your trading levels carefully.
Or if you need to adjust them as necessary to reflect changing market conditions and lock in gains where you can.
#2: Prepare Your Trading Setups
You need to prepare your trading setups carefully.
This will help you to stay organized and focused when trading.
Set up your trading platform, charts, and other tools before you start trading to ensure that you are ready to take action when the markets open and eventually hit your desired levels to action.
#3: JUST TAKE THE TRADE
High probability setup – tick.
Trading levels in place – tick
Risk analyses and volume analyses all according to plan – tick
As I like to say JTTT – Just Take the Trade!
Taking action is the most important part of successful financial trading.
Don’t be afraid to take a trade when the opportunity arises, but be sure to do so with caution and careful consideration of the risks involved.
Part 4 – VISION AND GOALS
We all have our desired goals and vision in place.
Or else why would we do it? Right?
With trading, we have a game plan.
And when we have a solid plan with a proven track record, we can almost see into the future of the outcome.
But you need to write them down.
You need to have realistic targets and goals.
You need to incorporate the downside and drawdowns as well.
And you need to remember, to achieve these – you have to take additional steps such as…
#1: Deposit more money
One way to improve your financial trading results is by depositing more money into your trading account
However, this does not mean that you should invest all your savings.
It is essential to balance your investments and diversify your portfolio to minimize risk.
Maybe you want to deposit 5% per month. Or maybe you want to just deposit one fixed lump sum, to start growing your account.
Be sure to evaluate your financial situation and set realistic investment goals that align with your financial capabilities.
#2:Be responsible
Being responsible is crucial in financial trading.
You need to be disciplined in your trading activities and avoid making impulsive decisions.
Stick to your strategy and stay true to your long-term goals.
You should also ensure that you have a clear understanding of the risks involved in financial trading.
#3: Eye on the sexy prize
Short-term gains can be tempting – I get it.
We are seeing the future before we are dealing with the present.
And this is dangerous in the short term.
It might feel slow, unprogressively and not as amazing as you thought after a year.
But with compounding, eventually you will feel the success, triumph and true potential of trading power.
But it is essential to focus on long-term growth and wealth potential.
Be prepared to hold onto your investments for an extended period, even if there are temporary fluctuations in the market.
#4: Focus on growth and wealth potential
It is crucial to have a clear understanding of your long-term goals and make informed decisions based on them.
If you want to grow your wealth, you need to be patient and take calculated risks.
Diversify your portfolio and invest in assets that have long-term growth potential can help you achieve your financial goals.
Part 5 – ATTITUDE
Now it’s up to you.
You have to face the elements of trading.
The winners.
The losers.
The drawdowns.
The insane winning streaks.
The slowdowns.
The sideways going nowhere.
This all can mess with your emotions. Hence they say don’t ride the emotional rollercoaster.
So let’s fix your attitude shall we?
#1: Biggest mental enemy is – YOU
Your mindset plays a significant role in your trading success.
The biggest mental enemy in financial trading is you.
It is easy to get caught up in emotions such as fear and greed.
This can lead you to taking impulsive and revengeful trades.
This can lead to you giving up during the bad or slow times.
To overcome this, you need to have a clear understanding of your emotions and how they can affect your trading decisions.
#2: Stop celebrating winners
Avoid celebrating them excessively.
Great you won some money! But what about the next trade? What about next month. What about next year.
You are only as good as your last trade. And when you banked a winner, you need to focus on the next trade and let by-gones be by-gones.
Celebrating your wins can lead to overconfidence, which can be detrimental to your trading success.
Keep level headed at all times. Especially during successful trades.
#3: Stop crying over losers
Similarly, you should not dwell on your losses.
Losses are part of the learning process.
They can help you identify areas of improvement in your trading strategy.
Instead of crying over losses, focus on learning from them and making informed decisions based on your trading plan.
Also, go back to your track record. Go look at the biggest drawdowns you had and how you overcame them when the market went into a better environment.
That will stop you crying over losing a bit of money.
Besides, losing money is not a loss. It’s simply a cost of trading.
Think of it like that and you will never feel another loser again.
#4: Be long term oriented
Financial trading is a long-term game.
To be successful, you need to have a long-term mindset and a strategy that aligns with your long-term goals.
I’ve told you many times. It’s not about the one trade but the hundreds of trades later.
Just keep to your discipline, follow the plan and strategy and you’ll see it pay off in the long run.
#4: Stop thinking of instant successes
Financial trading is not a get-rich-quick scheme.
You cannot expect instant success or overnight riches.
Instead, you need to be long-term oriented and take a strategic approach to your investments.
It would help if you were patient and persistent, even when faced with setbacks or losses.
5 Areas to Improve!
We’ve come to the end of the 5 part – Areas you need to improve with trading.
What a pleasure it’s been.
I’ll sup up everything below so you can have a quick reminder what you need to work on.
EXPERTISE
#1: New ETFs (Exchange Traded Funds)
#2: New AI Tech Companies and Technology
#3: Electric Vehicles
#4: Space Tourism
#5: Metaverse
TIME
#1: Be Punctual
#2: Don’t Miss a Day
#3: Set a Reminder
#4: Sticky Notes
ACTION
#1: Place Your Trading Levels
#2: Prepare Your Trading Setups
#3: JUST TAKE THE TRADE
VISION AND GOALS
#1: Deposit more money
#2: Be responsible
#3: Eye on the sexy prize
#4: Focus on growth and wealth potential
ATTITUDE
#1: Biggest mental enemy is – YOU
#2: Stop celebrating winners
#3: Stop crying over losers
#4: Be long term oriented
#5: Stop thinking of instant successes
If you found this helpful let me know in the comments.
Remember to stay disciplined, be patient, and keep your eyes on the long-term prize.
J.T.T.T
It is my longest trading article I’ve ever written.
I’ve written it because I care about you and I want you to succeed.
So, please take the time to read this and save it for the future.
Or if you don't have the time then at least go to the bottom to see the highlights of the article...
Enjoy and trade well!
Part 1 – EXPERTISE
Choose your markets wisely.
There are so many different markets to choose from, that you need to upper your knowledge.
Whether it’s understanding market, assets, securities and instruments – you need to have basic knowledge.
Here are some to consider…
#1: New ETFs (Exchange Traded Funds)
Exchange-traded funds (ETFs) are a popular way to invest in a diverse range of assets.
If you want to improve your expertise in ETF trading, stay informed about new trends and opportunities in the market.
Keep up to date with the latest developments in the ETF industry, such as new ETFs being introduced, and be aware of market trends and movements that may affect your trades.
#2: New AI Tech Companies and Technology
Artificial intelligence (AI) technology is revolutionizing many industries, including finance.
To stay ahead of the game in financial trading, be sure to keep up to date with new AI tech companies and technologies.
See what Google, Open AI (ChatGPT, Dallee), Apple and Meta are doing.
Even some crypto AI companies.
Familiarize yourself with the latest innovations in the field, and consider investing in companies that are developing or utilizing AI technology.
#3: Electric Vehicles
Electric vehicles are an emerging trend in the automotive industry.
Even in Greece and Europe, we are seeing more Teslas on the road and electric garage stations.
And they are expected to have a significant impact on the global economy, environment and with the automotive sectors.
Stay up to date with the latest news and developments in the electric vehicle market, and be aware of how it may affect your trading strategies.
#4: Space Tourism
Space tourism is a new and exciting industry that is attracting significant interest from investors.
Keep an eye on the latest developments in the space tourism market, including new companies (SpaceX, Virgin Galactic and even Amazon technologies.
#5: Metaverse
The metaverse is a virtual world that is becoming increasingly popular, and it is expected to have a significant impact on the way we live and work.
They are here to stay, improve and evolve. From virtual reality, augmented reality and a mixture of both.
Get yourself a Quest headset (or wait for the Quest 3) and see the new opportunities in the space. Don’t get left behind.There are many other areas of expertise of industries that you should be aware of.
Just do a bit more research and incorporate them into your trading and investing lives.
Part 2 – TIME
Time is all we have.
It’s also something you can’t get back but it’s something you can utilise and take advantage of.
With trading, you need to use your time wisely,
In this part we will talk about how you can improve on this aspect.
#1: Be Punctual
One of the most important aspects of successful financial trading is being punctual.
Be sure to arrive at your trading desk or platform on time.
Be ready to take action when the markets open.
Be prepared for when trading opportunities align and when they are ready to execute.
Don’t miss these opportunities, because it just takes ONE big one to take your portfolio out of your drawdown and in the green.
#2: Don’t Miss a Day
Missing a day of trading could lead to missed opportunities and lost profits.
Be sure to stick to your trading schedule and avoid missing any trading days.
And if you miss a day, make up for it the next day. Spend extra time on analyses, execution and even during your evaluations and tracking of your portfolio.
#3: Set a Reminder
To help you stay on track with your trading schedule, set a reminder on your phone or computer.
Even better. Set an alarm for when you know you need to trade.
Time slips by so quickly and we can get distracted in the day.
How many times have you forgotten to have lunch, drink water and miss your favourite TV show?
Use your timer and set reminders with trading. This will help you to stay focused and ensure that you don’t miss any important trading opportunities.
#4: Sticky Notes
Sticky notes can be a helpful tool for staying organized and focused when trading.
Use sticky notes to remind yourself of important dates, deadlines, trading setups, ideas and trading strategies.
Also use sticky notes to maybe have a plan on what you need to do as a trader that day.
They help and are great to bring to your notice with the actions you got to take.
Part 3 – ACTION
Without action, it stays a dream.
Without action, it stays an idea.
Without action, it stays a what if…
You need to DO instead of SAY.
You need to ACT.
That’s what this is all about with improving another area with your trading.
#1: Place Your Trading Levels
Don’t just look at what is lining up.
Write them down on sticky notes.
Have them all drawn up on your charting platform.
And make sure EVERY detail, trading level and reason is somewhere you can see.
Then you have no other choice but to set your trading levels carefully.
Or if you need to adjust them as necessary to reflect changing market conditions and lock in gains where you can.
#2: Prepare Your Trading Setups
You need to prepare your trading setups carefully.
This will help you to stay organized and focused when trading.
Set up your trading platform, charts, and other tools before you start trading to ensure that you are ready to take action when the markets open and eventually hit your desired levels to action.
#3: JUST TAKE THE TRADE
High probability setup – tick.
Trading levels in place – tick
Risk analyses and volume analyses all according to plan – tick
As I like to say JTTT – Just Take the Trade!
Taking action is the most important part of successful financial trading.
Don’t be afraid to take a trade when the opportunity arises, but be sure to do so with caution and careful consideration of the risks involved.
Part 4 – VISION AND GOALS
We all have our desired goals and vision in place.
Or else why would we do it? Right?
With trading, we have a game plan.
And when we have a solid plan with a proven track record, we can almost see into the future of the outcome.
But you need to write them down.
You need to have realistic targets and goals.
You need to incorporate the downside and drawdowns as well.
And you need to remember, to achieve these – you have to take additional steps such as…
#1: Deposit more money
One way to improve your financial trading results is by depositing more money into your trading account
However, this does not mean that you should invest all your savings.
It is essential to balance your investments and diversify your portfolio to minimize risk.
Maybe you want to deposit 5% per month. Or maybe you want to just deposit one fixed lump sum, to start growing your account.
Be sure to evaluate your financial situation and set realistic investment goals that align with your financial capabilities.
#2:Be responsible
Being responsible is crucial in financial trading.
You need to be disciplined in your trading activities and avoid making impulsive decisions.
Stick to your strategy and stay true to your long-term goals.
You should also ensure that you have a clear understanding of the risks involved in financial trading.
#3: Eye on the sexy prize
Short-term gains can be tempting – I get it.
We are seeing the future before we are dealing with the present.
And this is dangerous in the short term.
It might feel slow, unprogressively and not as amazing as you thought after a year.
But with compounding, eventually you will feel the success, triumph and true potential of trading power.
But it is essential to focus on long-term growth and wealth potential.
Be prepared to hold onto your investments for an extended period, even if there are temporary fluctuations in the market.
#4: Focus on growth and wealth potential
It is crucial to have a clear understanding of your long-term goals and make informed decisions based on them.
If you want to grow your wealth, you need to be patient and take calculated risks.
Diversify your portfolio and invest in assets that have long-term growth potential can help you achieve your financial goals.
Part 5 – ATTITUDE
Now it’s up to you.
You have to face the elements of trading.
The winners.
The losers.
The drawdowns.
The insane winning streaks.
The slowdowns.
The sideways going nowhere.
This all can mess with your emotions. Hence they say don’t ride the emotional rollercoaster.
So let’s fix your attitude shall we?
#1: Biggest mental enemy is – YOU
Your mindset plays a significant role in your trading success.
The biggest mental enemy in financial trading is you.
It is easy to get caught up in emotions such as fear and greed.
This can lead you to taking impulsive and revengeful trades.
This can lead to you giving up during the bad or slow times.
To overcome this, you need to have a clear understanding of your emotions and how they can affect your trading decisions.
#2: Stop celebrating winners
Avoid celebrating them excessively.
Great you won some money! But what about the next trade? What about next month. What about next year.
You are only as good as your last trade. And when you banked a winner, you need to focus on the next trade and let by-gones be by-gones.
Celebrating your wins can lead to overconfidence, which can be detrimental to your trading success.
Keep level headed at all times. Especially during successful trades.
#3: Stop crying over losers
Similarly, you should not dwell on your losses.
Losses are part of the learning process.
They can help you identify areas of improvement in your trading strategy.
Instead of crying over losses, focus on learning from them and making informed decisions based on your trading plan.
Also, go back to your track record. Go look at the biggest drawdowns you had and how you overcame them when the market went into a better environment.
That will stop you crying over losing a bit of money.
Besides, losing money is not a loss. It’s simply a cost of trading.
Think of it like that and you will never feel another loser again.
#4: Be long term oriented
Financial trading is a long-term game.
To be successful, you need to have a long-term mindset and a strategy that aligns with your long-term goals.
I’ve told you many times. It’s not about the one trade but the hundreds of trades later.
Just keep to your discipline, follow the plan and strategy and you’ll see it pay off in the long run.
#4: Stop thinking of instant successes
Financial trading is not a get-rich-quick scheme.
You cannot expect instant success or overnight riches.
Instead, you need to be long-term oriented and take a strategic approach to your investments.
It would help if you were patient and persistent, even when faced with setbacks or losses.
5 Areas to Improve!
We’ve come to the end of the 5 part – Areas you need to improve with trading.
What a pleasure it’s been.
I’ll sup up everything below so you can have a quick reminder what you need to work on.
EXPERTISE
#1: New ETFs (Exchange Traded Funds)
#2: New AI Tech Companies and Technology
#3: Electric Vehicles
#4: Space Tourism
#5: Metaverse
TIME
#1: Be Punctual
#2: Don’t Miss a Day
#3: Set a Reminder
#4: Sticky Notes
ACTION
#1: Place Your Trading Levels
#2: Prepare Your Trading Setups
#3: JUST TAKE THE TRADE
VISION AND GOALS
#1: Deposit more money
#2: Be responsible
#3: Eye on the sexy prize
#4: Focus on growth and wealth potential
ATTITUDE
#1: Biggest mental enemy is – YOU
#2: Stop celebrating winners
#3: Stop crying over losers
#4: Be long term oriented
#5: Stop thinking of instant successes
If you found this helpful let me know in the comments.
Remember to stay disciplined, be patient, and keep your eyes on the long-term prize.
J.T.T.T
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.