For almost two years, trading has been my main source of income. And along the way, I have learned something very important: Profitability doesn't come from how good an analyst you are; it comes from self-control and the ability to stay consistent with what you said you were going to do.
1. Profitable trading is not exciting. If you're looking for adrenaline, this isn't for you. Winning traders repeat the same steps every day. They wait, wait, wait, wait... and when their system says to fire... they fire!
2. Your system is worthless if you don't respect it You may have a perfect strategy But if you ignore it every time there's volatility or FOMO takes over you... you're dead. (In this thread I won't talk about the strategy to follow, if you don't have one, in point 5 I will tell you how to get backtested and profitable strategies). In short, discipline is not a virtue. It's a must.
I have spoken with the best traders in Spain. And I have studied many more. And to my surprise, none of them have anything magical. What they do have are solid systems, clear rules, and a mindset tougher than your friend’s face who owes you money for a long time.
3. Managing risk is the true skill Forget about "doubling the account". That will only lead to burning it out. An account funded with a 10% drawdown is not 100k. It's 10k. If you risk 3% on each trade, you're shooting yourself in the foot.
Imagine you are given 10 chips to play in a tournament. Each bad trade is a chip that goes away. When they are all gone, you're out. It doesn't matter how good you are or how much theory you master: Without risk management, you're self-eliminating from the market. It's the only thing that guarantees your survival and allows your mathematical edge to have time to work in your favor.
4. Mindset is the difference between a trader who survives and one who disappears. It's not just about knowing when to enter, but also knowing when to stop. Accepting that a good streak doesn't make you invincible, and a bad one doesn't define you. The professional doesn't identify with their last trade. They identify with their process.
6. Remember this: ➢ Don't trade impulsively, stick to the plan. ➢ Don't risk as if you have 7 lives. Protect your capital as if it were oxygen. ➢ You don't have to win every trade, just some of them. ➢ Surround yourself with those who are already where you want to be. And most importantly: treat this as the business it is, we're not here to play.