Why is having a proper mindset important when it comes to trading and investing?
Because you could have the best trading/investment system, and you wouldn’t be able to follow it or improve it over time if you don’t have a proper mindset.
Open your mind
Why we trade the stock market
How to define “what works” and “what doesn’t work”
What doesn’t work anymore, and why…
What works, and why…..
Why having a proper mindset and principles is important
Proper mindset and principles
These principles apply to people who want to be successful in the markets and also in life.
- Think independently
- Ignore IQ
- Focus on the facts, data, and probability. Always backtest everything
- Ignore vague terms
- Focus on your trading systems and thought process. Your returns will take care of itself.
- Study history
- Don’t “trade the price action” or trade the news
- Great is the enemy of good
- Don’t be a full time investor or trader
- Predict DIRECTION instead of PRICE
- Mistakes and failures are opportunities for learning
- Focus on your “one thing”
Focus less on “risk” and more on the EXPECTED VALUE of risk
Differentiate between luck and skill
So now that you’ve learned the principles and minset required to become a successful trader/investor, head over to the Membership Program page to see our trading and investment models.