Attention pls read the below articles sure it will change your life and financial status, read it and feel it.

Pathways to Trading Success- Steeve

1. Believe in Yourself
2. Control Risk
3. Patience
4. Humility
5. Reward

There are many paths to trading profitability, but all the paths have similar steps. Here are some important steps you must follow on your path to profitability.

1. The amount of success you have in trading is primarily based on the amount of homework you do.
2. You must develop a winning trading system that is based on previous price history, trend capturing in your time frame, and great risk/reward setups.
3. You must have a quantified trading plan for executing your system with real time entries, exits, and position sizing.
4. Position size so you never take big losses. Never let any trade risk the ruination of your account.
5. Learn from those that have consistently won in the markets.
6. Read the best trading books ever written.
7. Study a market's price history, and how it related to technical indicators. 8. Study historical chart patterns.
9. Be aware of your emotions and ego so you can continue to trade based on facts instead of how you feel.
10. Perseverance pays in trading. Let losses be lessons and your mistakes be your teachers. Don't quit when you're frustrated; keep going until you are successful.

ATTENTION PLS:-

Don't trade until the technical and the fundamentals both agree. This rule makes pure technicians cringe. I don't care! I will not trade until I am sure that the simple technical rules I follow, and my fundamental analysis, are running in tandem. Then I can act with authority, and with certainty, and patiently sit tight

Are you guilty of one of the cardinal sins of trading?

Hubris: A foolish amount of pride or overconfidence. No matter how good of a trader you think you are, the market is always bigger. You will not win an argument with its price action no matter what.
Fear: Cutting winners short because of unwarranted fear eliminates all the big wins. Being afraid to take a good entry creates loss of a potential profit. Thorough trading methodology study is required to trade confidently.
Ego: The desire to be right more than the desire to make money leads to losing a lot of money. The ego causes traders to hold losers far too long. The best traders are slaves to the market's price action.
Laziness: Seeking to be given trades instead of doing the work to develop a system leads to failure. Trades only have meaning when they are executed within a robust system complimented by discipline and risk management.
Greed: The greedier a new trader is, the higher the probability and speed at which they lose their whole trading account. There is significant risk in going for trades with big position sizes, because the losses can be huge if when wrong.
Money is made in the market through self - discipline and trade management. If a trader does not manage risk and position sizing, their winning trades are meaningless because they will eventually give it all back. Without overcoming the sins of hubris, fear, ego, laziness, and greed, a trader is unlikely to make it at a professional level.

How to learn from winning trades

There are mainly three things that you have to ask yourself when it comes to analysing your winning trades when it comes to increasing your trading performance.

1. Were you just lucky?
"In trading, it does not matter whether you are right or wrong; the only thing that matters is whether you are making money". The quote above wanders around trading forums and on social media, but it could not be further from the truth. The previous diagram shows, you can easily end up in a winning trade while having violated all your trading rules; a winning trade would then be the result of pure luck. Inexperienced and ignorant traders might start to believe that they don't need trading rules and that their 'gut feeling' tells them what to do. Dead wrong. Winning trades, when violating rules, can be very harmful for a trader's discipline and his overall development. It is therefore important to analyse whether your winning trades are the result of accurate planning and following the plan, or whether you were just lucky.
2. How to make more money?
If you have followed the rules and price made it to your take profit order, you did what a trader is supposed to do. But, did you execute your plan in the best possible way, or was there something you could have done better? There are two things you should analyse when it comes to optimizing your trading performance:

• Was my entry good? Could I have entered later for a better price and, therefore, had a bigger winner?
• Could I have used a smaller stop loss or a wider take profit target? Although analysing these two points is crucial for a trader to increase his performance, it is even more important to avoid knee-jerk decisions. Only after you have collected data on a big enough sample size, the numbers can tell you what to do.

3. What do your winning trades have in common?
Finally, you should evaluate your winning trades and find things they have in common. If you are able to find a common denominator you can take more of those trades that already work. Pay attention to the time of the trade entry, a certain indicator setting if you use any, the prevailing market conditions or just whether you have more winning trades on certain instruments than on others.

How to learn from losing trades

It is great when you can find ways to turn winning trades into even bigger wins, but finding out how to eliminate losing trades is equally important for your overall success. And keep in mind, you will never be able to avoid all your losses. They are just part of the game. The following three points can serve as a guideline when analysing your losing trades.

1. Could the loss have been avoided? This is probably the most obvious question and the one you have to ask yourself first. Did you violate your trading rules, or was there any way that the loss could have been avoided? Besides breaking trading rules, going against the overall trend and ignoring the impact or release of important news usually fall into this category. But be honest, you cannot avoid all losses and even the best setups will fail over and over again.

2. Could you have lost less?

If you rule out the possibility that the loss was avoidable, you have to answer the question whether it would have been possible to minimize the loss. Did you see early signs for a potential losing trade or was it even your mistake, due to wrong trade management decisions that caused the loss?

Traders sell winners at a 50% higher rate than losers. 60% of sales are winners, while 40% of sales are losers.-Odean (1998): Volume, volatility, price, and profit when all traders are above average Finding ways to cut losses early is one of the fastest ways to increase trading performance. Evaluate your losing trades to find patterns that signal early when the trade goes wrong. Most trades do not head straight to your stop loss order, but provide opportunities to get out for a smaller loss.

3. What do your losing trades have in common?
In the last step you have to evaluate your losing trades and check whether you can find similarities. Often traders find that they lose a disproportionate amount of money on a specific kind of trade, setup or instrument. Some traders even report that they are better at trading long trades than short trades. An easy way to avoid losses is to find what is not working for you and stop doing it. It seems so obvious, but not many traders follow this advice.

Conclusion: There are several ways to increase your trading performance Most traders do not see the bigger picture and only focus on finding a ‘better’ indicator that can tell them how to find better trades, whereas the answer is so often right in front of them. By analysing how to win even more on your winning trades and how to cut losses in an effective way, you can become a profitable trader much faster than believing in the Holy Grail of trading. BY Rolf's great articles.

30 Of The World's Best Trading Rules

There is the inconvenient truth about successful trading.It's work.

Trading is more than just numbers - it is a three dimensional fight that rages primarily inside the traders themselves. Missing any crucial element can ruin a trader quickly. The trader must first develop a robust trading system that fits their own personality and risk tolerance. Then they must trade it with discipline and faith consistently through ups and downs. But that's not all. Risk exposure must also be managed carefully through position sizing and limiting open positions. The risk management has to be able to carry the trader through the losing streaks and enable survival for the chance to even make it to the winning side.

Here are thirty rules that can help the new trader survive that first year in the trading the markets or take the unprofitable trader much closer to profitability.

Trade with the right mind set.

TRADER PSYCHOLOGY

1. Be flexible and go with the flow of the markets price action, stubbornness, egos, and emotions are the worst indicators for entries and exits.
2. Understand that the trader only chooses their entries, exits, position size, and risk and the market chooses whether they are profitable or not.
3. You must have a trading plan before you start to trade, that has to be your anchor in decision making.
4. You have to let go of wanting to always be right about your trade and exchange it for wanting to make money. The first step of making money is to cut a loser short the moment it is confirmed that you are wrong.
5. Never trade position sizes so big that your emotions take over from your trading plan.
6. "If it feels good, don't do it." - Richard Weissman
7. Trade your biggest position sizes during winning streaks and your smallest position sizes during losing streaks. Not too big and trade your smallest when in a losing streak.
8. Do not worry about losing money that can be made back worry about losing your trading discipline.
9. A losing trade costs you money but letting a big losing trade get too far out of hand can cause you to lose your nerve. Cut losses for the sake o your nerves as much as for the sake of capital preservation.
10. A trader can only go on to success after they have faith in themselves as a trader, their trading system as a winner, and know that they will stay disciplined in their trading journey.
Bring your risk of ruin down to almost zero.

RISK MANAGEMENT

1. Never enter a trade before you know where you will exit if proven wrong.
2. First find the right stop loss level that will show you that you're wrong about a trade then set your positions size based on that price level.
3. Focus like a laser on how much capital can be lost on any trade first before you enter not on how much profit you could make.
4. Structure your trades through position sizing and stop losses so you never lose more than 1% of your trading capital on one losing trade.
5. Never expose your trading account to more than 5% total risk at any one time.
6. Understand the nature of volatility and adjust your position size for the increased risk with volatility spikes.
7. Never, ever, ever, add to a losing trade. Eventually that will destroy your trading account when you eventually fight the wrong trend.
8. All your trades should end in one of four ways: a small win, a big win, a small loss, or break even, but never a big loss. If you can get rid of big losses you have a great chance of eventually trading success.
9. Be incredibly stubborn in your risk management rules don't give up an inch. Defense wins championships in sports and profits in trading.
10. Most of the time trailing stops are more profitable than profit targets. We need the big wins to pay for the losing trades. Trends tend to go farther than anyone anticipates.
Develop a winning trading system that fits your personality.

YOUR ROBUST METHOD

1. "Trade What's Happening…Not What You Think Is Gonna Happen." - Doug Gregory
2. Go long strength; sell weakness short in your time frame.
3. Find your edge over other traders.
4. Your trading system must be built on quantifiable facts not opinions.
5. Trade the chart not the news.
6. A robust trading system must either be designed to have a large winning percentage of trades or big wins and small losses.
7. Only take trades that have a skewed risk reward in your favor.
8. The answer to the question, "What's the trend?" is the question, "What's your timeframe?" - Richard Weissman. Trade primarily in the direction that a market is trending in on your time frame until the end when it bends.
9. Only take real entries that have an edge, avoid being caught up in the meaningless noise.
10. Place your stop losses outside the range of noise so you are only stopped out when you are likely wrong.

7 Habits of Highly Successful Traders

There are seven things that I believe are pretty common in the successful traders I have known, read about, and seen in action. Whether it is stock trader Nicolas Darvas in the sixties, commodity trader Ed Seykota in the twentieth century, or Jesse Livermore at the turn of the last century, many of their principles hold true to this day. The closer I get to these principles, the better I trade. The farther I stray from them, the worse I do. In trading, discipline pays. Adopt these seven habits of highly successful traders.

1. Traders must have the perseverance to stick to trading until they are successful. Many of the best traders are the ones that had the strength to push through the pain, learn from their mistakes, and keep at it until they made it.
2. Great traders cut losing trades short. The ability to accept that you are wrong and put your ego aside is the key to personal and professional success.
3. Letting a winning trade run as far as it can go on your time-frame, insures that you have big enough wins to cover your small losing trades.
4. Avoiding the risk of ruin by leveraging a small portion of your capital on each trade. If you risk it all often enough, you will lose it all eventually.
5. Being reactive instead of predictive on actual price action is a winning principle I have seen in many rich traders. Letting price action give you signal is trading reality. Trading based on what the price should be is wishful thinking.
6. Great traders are bullish in bull markets, and bearish in bear markets, until the end when then trend bends.
7. Great traders care about making money more than anything else; proving they are right, showing off, or predicting the future is not as important as hearing the cash register ring.

Paul Tudor Jones' 22 Trading Principles

Paul Tudor Jones famous interview and documentary "The Trader" is a classic amongst market professionals. It is one of the few places you can see a true Market Wizard and young money manager become a billionaire. Here are the lessons I have gleaned from watching the master in action:

1. It is possible to see that a market is dramatically overbought and prepare for, and then capture, huge gains after the sell off.
2. Risk small amounts to make big profits.
3. Bet against times when numerous leaders must agree.
4. Long hours and a strong work ethic are keys to being a successful trader.
5. While it is good to trade any market that will turn a profit, specializing in a market can lead to great success.
6. The markets go down faster than they go up.
7. If the market will not go down during bad news, it will likely go higher.
8. The stock market moves in patterns and in cycles. Past price patterns repeat themselves due to human emotions.
9. Many times traders think a big position order size means that a whale knows something, most times they do not.
10. It is okay to skip a trade if you can't get your entry price.
11. A momentum move does not just stop, it takes time to roll over.
12. It is possible to trade successfully by gaming the actions of other traders.
13. Be aggressive at high probability moments.
14. Always stay in control of your trading and manage risk.
15. Focus on risk management as the #1 priority in trading.
16. Having the right mindset during a big loss that it is just temporary, is the key to coming back and being successful.
17. Letting profits run is sometimes a great plan.
18. Being long at all-time highs in the indexes is a great strategy.
19. Great money managers trade with passion.
20. Even Market Wizards have doubts about winning when entering a trade.
21. When the top in a market is reached, there is a lot of money to be made shorting as panic selling sets in.
22. Guys from Tennessee can trade!

A Trader's 5 Best Teachers

"The game taught me the game. And it didn't spare the rod while teaching." - Jesse Livermore
Trading Losses: There are two types of losses, one loss is caused by the market simply not being conducive to the profitability of your system. The other loss is due to your lack of discipline, causing your system to fail. Experiencing a loss while following your trading plan is to be expected. If you are trading a proven and tested method, then you have learned that taking a loss is simply part of trading. However, if your breach of discipline caused your loss, whether not taking a stop, over riding your plan, not taking an entry, or trading too big, then it is time to learn why you failed. Ego?Fear?Greed?Overconfidence?Laziness? It is crucial that you understand your shortcomings, so you do not repeat the same mistake again.

Charts: Studying the past price action of charts is very beneficial. This will show you how prices have reacted at support/resistance levels in the past, along with moving averages and any other indicators that you may choose. It is important that you understand how your market has historically traded. Whether it is currencies, commodities, stocks, or bonds, it is crucial that you learn how to identify a trend, a swing trade, and a range bound market.
Social Networks: There are many great traders on Facebook, Twitter, and Stocktwits. There are several that freely give away their knowledge because they enjoy sharing what they have learned. There are others that may be less desirable. To separate the wheat from the chaff, focus on who gives advice that makes money over time. Only follow traders that discuss all three elements of trading. You need to learn about risk management, trader psychology, and entries and exits. Be very wary of anyone that makes trading look like easy money; it is work like any other profession.
A Mentor: Getting a mentor is a great learning shortcut. Having someone available to ask questions of, and get direct feedback from, is incredibly valuable. The hard part is finding the right one mentor. If you are paying for a service then you need to verify the mentors credentials and success as a trader. If a successful or rich trader agrees to help you with no compensation, it is crucial to not take up too much of their time. Have questions ready and ask good questions by doing the necessary homework. It is also possible to pick legendary traders and study them in depth through the internet, interviews they have done, books they have written, and purchasing any services they offer.
Trading Books: Books that are written by successful traders are a gold mine of information that can speed up the learning process for new traders. When looking for the best trading books, I use Amazon and focus on books that are written by traders that successful track records. I also like to see many 4 and 5 star reviews for the book. I have reviewed over 250 trading books on Amazon.

12 Principles that Lead To My Long Term Trading Profitability - steeve

Trading is not about one day, one week, or even one year. Trading is about taking money out of the markets over and over again, consistently, and keeping it to spend on other things.
When I have bad days, I look at my long term track record over multiple markets, and that gives me confidence in myself as a trader, and my trading methodology. I have been a fortunate member of the 10% of profitable traders for the majority of the past 20 years in the markets. From investor, to stock trader, and option trader, I have made consistent returns and kept the capital to spend outside the markets. Here are ten principles that made me profitable in the long term as a trader.

1. I trade in the direction of the long term trend. I am primarily long in up trends and short or in cash in down trends.
2. I trade based on quantifiable facts, not my own emotions. I react based on price action, not based on my feelings.
3. I have spent thousands of hours studying the financial markets. I did my homework before I began trading.
4. I read several hundred trading books and tried to learn from other people’s experiences, instead of losing my own money and learning the hard way.
5. I studied historical charts of monster stocks and different extreme time periods. I back tested what I thought would work to see if it would before I traded my ideas.
6. I followed great traders on twitter to see how they operated.
7. I learned from professional traders in facebook groups.
8. I developed a trading plan to give me rules to follow to instill discipline in my trading.
9. I developed a trading methodology that fits my own personalty and risk tolerance parameters.
10. I have a passion for trading.
11. I love the game of trading and the markets.
12. I never gave up

30 Reasons Most Traders Don't Make Money - steeve

1. Lack of homework on what works.
2. Inability to manage stress.
3. Allowing big losses in your trading account
4. Quitting when they learn trading isn't easy money.
5. Inability to trade volatile markets.
6. Inability to emotionally manage equity curves.
7. Trading without a positive expectancy model.
8. Never committing to one trading strategy.
9. Changing trading systems.
10. Trading based on opinions.
11. Not managing position sizing.
12. Not managing the risk of ruin.
13. Searching for a Holy Grail instead of a winning system.
14. Over thinking their trades.
15. Reactive trading decisions based on internalizing emotions.
16. Trying to pick tops and bottoms and miss the trends.
17. Trading with leverage without understanding the risks.
18. Trading on margin without understanding it.
19. Over trading.
20. Trading with an account too small.
21. Trading without a plan.
22. Trading without stop losses.
23. Not understanding what it takes mentally to be a trader.
24. Setting stops too tight.
25. Setting stops in obvious places.
26. Having only small winners.
27. Buying what looks cheap.
28. Selling short what looks expensive.
29. A lack of discipline.
30. Taking tips.

Donchian's 20 Trading Guides (First publication: 1934) General Guides:

1. Beware of acting immediately on a widespread public opinion. Even if correct, it will usually delay the move.
2. From a period of dullness and inactivity, watch for and prepare to follow a move in the direction in which volume increases.
3. Limit losses and ride profits, irrespective of all other rules.
4. Light commitments are advisable when market position is not certain. Clearly defined moves are signaled frequently enough to make life interesting and concentration on these moves will prevent unprofitable whip-sawing.
5. Seldom take a position in the direction of an immediately preceding three-day move. Wait for a one - day reversal.
6. Judicious use of stop orders is a valuable aid to profitable trading. Stops may be used to protect profits, to limit losses, and from certain formations such as triangular foci to take positions. Stop orders are apt to be more valuable and less treacherous if used in proper relation to the chart formation.
7. In a market in which upswings are likely to equal or exceed downswings, heavier position should be taken for the upswings for percentage reasons - a decline from 50 to 25 will net only 50% profit, whereas an advance from 25 to 50 will net 100%
8. In taking a position, price orders are allowable. In closing a position, use market orders."
9. Buy strong-acting, strong-background commodities and sell weak ones, subject to all other rules.
10. Moves in which rails (transportation) lead or participate strongly are usually more worth following than moves in which rails (transportation) lag.
11. A study of the capitalization of a company, the degree of activity of an issue, and whether an issue is a lethargic truck horse or a spirited race horse is fully as important as a study of statistical reports.

Linda Bradford Raschke - 50 Time Tested Classic Stock Trading Rules

1. Plan your trades. Trade your plan.
2. Keep records of your trading results.
3. Keep a positive attitude, no matter how much you lose.
4. Don't take the market home.
5. Continually set higher trading goals.
6. Successful traders buy into bad news and sell into good news.
7. Successful traders are not afraid to buy high and sell low.
8. Successful traders have a well-scheduled planned time for studying the markets.
9. Successful traders isolate themselves from the opinions of others.
10. Continually strive for patience, perseverance, determination, and rational action.
11. Limit your losses - use stops!
12. Never cancel a stop loss order after you have placed it!
13. Place the stop at the time you make your trade.
14. Never get into the market because you are anxious because of waiting.
15. Avoid getting in or out of the market too often.
16. Losses make the trader studious - not profits. Take advantage of every loss to improve your knowledge of market action.
17. The most difficult task in speculation is not prediction but self - control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
18. Always discipline yourself by following a pre-determined set of rules.
19. Remember that a bear market will give back in one month what a bull market has taken three months to build.
20. Don't ever allow a big winning trade to turn into a loser. Stop yourself out if the market moves against you 20% from your peak profit point.
21. You must have a program, you must know your program, and you must follow your program.
22. Expect and accept losses gracefully. Those who brood over losses always miss the next opportunity, which more than likely will be profitable.
23. Split your profits right down the middle and never risk more than 50% of them again in the market.
24. The key to successful trading is knowing yourself and your stress point.
25. The difference between winners and losers isn't so much native ability as it is discipline exercised in avoiding mistakes.
26. In trading as in fencing there are the quick and the dead.
27. Speech may be silver but silence is golden. Traders with the golden touch do not talk about their success.
28. Dream big dreams and think tall. Very few people set goals too high. A man becomes what he thinks about all day long.
29. Accept failure as a step towards victory.
30. Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don't let ego and greed inhibit clear thinking and hard work.
31. One cannot do anything about yesterday. When one door closes, another door opens. The greater opportunity always lies through the open door.
32. The deepest secret for the trader is to subordinate his will to the will of the market. The market is truth as it reflects all forces that bear upon it. As long as he recognizes this he is safe. When he ignores this, he is lost and doomed.
33. It's much easier to put on a trade than to take it off.
34. If a market doesn't do what you think it should do, get out.
35. Beware of large positions that can control your emotions. Don't be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
36. Never add to a losing position.
37. Beware of trying to pick tops or bottoms.
38. You must believe in yourself and your judgement if you expect to make a living at this game.
39. In a narrow market there is no sense in trying to anticipate what the next big movement is going to be - up or down.
40. A loss never bothers me after I take it. I forget it overnight. But being wrong and not taking the loss - that is what does the damage to the pocket book and to the soul.
41. Never volunteer advice and never brag of your winnings.
42. Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
43. Standing aside is a position.
44. It is better to be more interested in the market's reaction to new information than in the piece of news itself.
45. If you don't know who you are, the markets are an expensive place to find out.
46. In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word - Nobody! Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen.
47. Except in unusual circumstances, get in the habit of taking your profit too soon. Don't torment yourself if a trade continues winning without you. Chances are it won't continue long. If it does, console yourself by thinking of all the times when liquidating early reserved gains that you would have otherwise lost.
48. When the ship starts to sink, don't pray - jump!
49. Lose your opinion - not your money.
50. Assimilate into your very bones a set of trading rules that works for you.