Over the last two weeks we have discussed the great nature versus nurture debate and broke down what they both are. From these, we have seen that no one is born with the ability to be good at trading, but its rather the environment in which they are brought up in that makes them good at it. Of course, some people are better traders than others, but this does not mean that you cannot be one of those better traders.
Like any skill in life practice makes perfect and the more you do it, the better you will become. However, there are a few things that you can do to make your trading better.
Keep a trading diary
This is a really good way of keeping track of your trades and emotions. If you have a bad day of trading this will also allow you to review your trades, take them apart and figure out what went wrong and work on that.
Think out the box
Sometimes thinking in the same way as always is not a good thing, changing your perspective can also have a positive impact on your trades. Look at different markets and see how you do, you don’t need to put all your trades in the new market, but sometimes putting a few trades in to see how you do does wonders.
Setting goals
Setting new goals or modifying old goals is important, it gives you something to work towards and keeps you focused on what you need to achieve, remember to keep your goals realistic and achievable otherwise it will have a negative impact on your self-esteem when you do not reach them.
Rome wasn’t built in a day, becoming a successful trader also doesn’t happen in a day. Keep working hard, stay motivated and keep learning. Hard work goes a long way so success is inevitable.
Ryan Mowatt The Performance Coach