7 Mantras For Successful Trading

1. Losing traders fear losses and crave profits. Winning traders eliminate both fear and greed. 
Great traders experienced a lot of losses and drawdowns in their lifes, so they don’t fear them. Losses are already familiar to them.
They know, that the biggest enemy of a trader are emotions. So the best attitude is not to be influenced by fear of loss or desire for profits. The more you fear something, the more you’ll experience it. The more you desire something, the less benefits you’ll have from it. 
If you’re scared of driving at high speeds, Formula 1 career will never be a good option for you. If you’re scared of losses, trading will also never be a activity suited for you. 
2. Losing traders care where the market will move in an hour, today or tomorrow. Winning traders don’t care where the market will go. 
Why manual traders are so attached to their positions or market direction? The deep psychological reason behind it, is that they’ve made the trades with their own hands and heads. So they start worrying about the outcome. The automated systematic traders on the other hand, let computer programs do the job, so they cannot blame themselves or the market for the outcome of particular trades. 
Why it is important in trading? The less you worry about the positions and about market direction, the less emotions can negatively impact your trading. 
3. Losing traders look for 100% return a month. Winning traders look for 100% return a year (without compounding). 
To achieve 100% return in a month, you have to trade with very high leverage. The most probable result trading with too high leverage is -100%. Winning traders use medium to low leverage. They may lose 30% from time to time, but with proper strategies, they are able to double the account every year. And if they combine medium leverage with the power of compounding , returns can be much higher. 
4. Losing traders want 70-100% winning trades from their systems or strategies. Winning traders want 20-70% winning trades. 
Requiring that high percentage of profitable trades comes directly from craving profits. To get more percent of profitable trades, a strategy has to take smaller and smaller profits. At the same time, it must also allow for deeper and deeper losses. So what such approach leads to? It blocks the ability of taking substantial profitable trades. And it is welcoming the huge loss with open arms. 
Winning traders design their systems with tight stoplosses, so they are likely to have two times more losing trades than winning. However, they reduce the chance of a large losing trade. And at the same time, they increase the chances of getting a lot of massively winning trades. This way, it opens doors for a market to make you the most money on every single trade. 
5. Losing traders give up. Winning traders persist. 
If you give up, you cut yourself from the scenario of success. Winning traders are able to withstand the drawdowns and continue on until the markets will reward their patience and strength. 
6. Losing traders copy, chase and follow others. Winning traders are free from herd mentality. 
Losing traders tend to subscribe to the providers having the largest number of followers. What they don’t realize is this. When a provider is compensated by rebates from a broker (like on Zulutrade), he will be tempted to slaughter his subscribers by increasing the number of trades, so he could get as much rebate income as possible. 
Losing traders also seek trading or investment advice from big financial firms. These firms are experts in sales and marketing, not in trading. 
Traders who are successful think different than all the rest. They seek unique methods to obtain edge in the markets. 
7. Losing traders prepare, wait and hesitate. Winning traders act, now. 
“By preparing, you can only become good at preparing”. Again, the root cause of this excessive caution and waiting is the fear of loss. Guess why traders who make money are able to do it? Well, because they actually take action! Sitting on the sidelines won’t produce results. Winning traders don’t wait 6 months until the strategies “prove their profitability”. They know there’s no such thing as “proof” or guarantee. Every strategy can start losing money in every moment. 
Waiting is a sure fire way to waste something which is priceless: time. Each of us has limited time. The best strategy we can use is take action, don’t fear and don’t desire to be rewarded. If a trader will avoid mistakes others do, he will be rewarded. 

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