I was playing around last night and a thought went through my head and I have had a hard time letting it go. “What are you going to do that is going to make you successful?” Now I know that in this life there are far more important things than money, but this is about my trading and that includes money. So here is a list of what is going to help me “Make It”.
1) Education – I will keep learning until I’m unable to learn any more. A big part of this continuing education is going to be my trading journal. I have to learn and understand myself to be truly successful. My belief is that to trade well you have to trade around who you are. If not it’s a much bigger up hill struggle than what it already is.
2) Risk Control – This is both on an individual trade basis and a portfolio basis. This is the “Key to the Kingdom” in this game. People don’t use the term “Precious Capital” as much as they should.
3) Keep my trading system simple. I will let everyone know right know that I did not graduate from a reputable school. This means that I work better around what I understand. This boils down to simplicity.
4) Adding to winners – Seems simple but can be very hard to do. This will be a big part of my journal, trying to understand how to do better at this aspect of my trading.
I’m sure some things will be added to this list as I go on. Here in the next few post I will lay out the rules for each type of trade. I need this laid out in front of me to have a pre and post trade studies.
