🎓 EDUCATION 1: What Does It Take to Become a Successful Trader?
EDU 1: What Does It Take to Become a Profitable Trader?
Hello traders. With this post, I am starting an educational series on TradingView unlike any other. We’ll go through all the aspects and nuances of becoming a professional, consistently profitable, and successful trader.
Now, those are big words. You have likely heard them from various other sources that claimed to teach you the holy grail of trading or that offered some sorts of “secret indicators” that would pave the way to financial freedom.
The truth is, nothing is secretive about successful trading. Thousands of professional traders are consistently profitable, and large institutional traders manage to beat the markets, year over year. The key is learning how to trade the correct way. That’s my trading approach as well: Institutional trading for the retail trader.
I have been fascinated by the markets since the early 2000s. I am not only a self-taught trader, but also have an academic background that has helped me tremendously in understanding market forces and applying them in my daily trading.
I enrolled at the Faculty of Economics in 2008, finished my undergraduate degree in technical analysis and my Master’s degree in fundamental analysis in the FX market.
Since then, I have been following markets daily, created various trading strategies, backtested them, and chose the ones that work best for me.
Alright, now it’s time to finally start the educational part.
What does it take to become a successful trader?
A successful trader is an analyst, trader, and (risk and psychology) manager – all at once.
The analyst side of a trader generates trading ideas, the trader side executes the trades, and the manager side manages both the risk and psychological aspects of trading.
We’ll go through each of them in this educational series.
Trading is not about following technicals all day long. Professional traders and large players in this market don’t buy EUR/USD (or any other pair) when a Moving Average crosses above or below another Moving Average, or when the RSI shows overbought or oversold levels.
Forget about trendlines and wedge patterns for a moment (how many times did you catch a fake breakout trading them?) and open your mind to a trading approach that combines:
Those disciplines form the cornerstone of what I like to call the FIST analysis. We’ll use technicals only to enter into a trade after we already have a direction derived from the other types of analyses.
So, this educational series will start with your analyst side (FIST), continue with your trader side (process/strategy/execution), and finish with your manager side (managing risks, managing yourself, position-sizing, scaling in and out of positions, etc.).
By the end of the series, you’ll hopefully get a completely different picture of trading than you had before.
If you find this trading educational series useful, please follow and hit the “LIKE” button.
Have questions? Post them in the comment section below.
Coming Up: Why Technicals Alone Are Not Enough?
Hello traders. With this post, I am starting an educational series on TradingView unlike any other. We’ll go through all the aspects and nuances of becoming a professional, consistently profitable, and successful trader.
Now, those are big words. You have likely heard them from various other sources that claimed to teach you the holy grail of trading or that offered some sorts of “secret indicators” that would pave the way to financial freedom.
The truth is, nothing is secretive about successful trading. Thousands of professional traders are consistently profitable, and large institutional traders manage to beat the markets, year over year. The key is learning how to trade the correct way. That’s my trading approach as well: Institutional trading for the retail trader.
I have been fascinated by the markets since the early 2000s. I am not only a self-taught trader, but also have an academic background that has helped me tremendously in understanding market forces and applying them in my daily trading.
I enrolled at the Faculty of Economics in 2008, finished my undergraduate degree in technical analysis and my Master’s degree in fundamental analysis in the FX market.
Since then, I have been following markets daily, created various trading strategies, backtested them, and chose the ones that work best for me.
Alright, now it’s time to finally start the educational part.
What does it take to become a successful trader?
A successful trader is an analyst, trader, and (risk and psychology) manager – all at once.
The analyst side of a trader generates trading ideas, the trader side executes the trades, and the manager side manages both the risk and psychological aspects of trading.
We’ll go through each of them in this educational series.
Trading is not about following technicals all day long. Professional traders and large players in this market don’t buy EUR/USD (or any other pair) when a Moving Average crosses above or below another Moving Average, or when the RSI shows overbought or oversold levels.
Forget about trendlines and wedge patterns for a moment (how many times did you catch a fake breakout trading them?) and open your mind to a trading approach that combines:
- Fundamentals
- Intermarket analysis
- Sentiment analysis
- ...and (the correct) technical tools
Those disciplines form the cornerstone of what I like to call the FIST analysis. We’ll use technicals only to enter into a trade after we already have a direction derived from the other types of analyses.
So, this educational series will start with your analyst side (FIST), continue with your trader side (process/strategy/execution), and finish with your manager side (managing risks, managing yourself, position-sizing, scaling in and out of positions, etc.).
By the end of the series, you’ll hopefully get a completely different picture of trading than you had before.
If you find this trading educational series useful, please follow and hit the “LIKE” button.
Have questions? Post them in the comment section below.
Coming Up: Why Technicals Alone Are Not Enough?
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