trading

25 "Trading Tips"

October 18, 2015 Brian Wieners

These tips are part of a bonus of our book "25 Trading Tips". They are at the end of the book and represent tips 26-30. They are not as in depth as the other tips but that does not make them any less powerful. 

Bonus Tips

26.           Get away.

I’ve always had days where it seems like everything is going wrong, every trade is bad and I'm losing money. I continue to try to make good trades yet nothing works. The solution almost all of the time is to get away. Step away from the charts and go do anything other than trade. I highly recommend the 3 things highlighted in the next tip. Sometimes the best thing you can do is leave. Don't try to force anything and go spend time with your family or do something you love. Come back happy and with vigor and it almost always leads to a direct positive influence on your trading or investing. I find this works for really anything you may be struggling with. So please, relax and just get away from it for a minute for the sake of yourself.

 

27.           Meditate/Exercise/Yoga/etc...

Trading can become stressful, there's no way around it. Dealing with numbers, charts, and risk all day can take a major toll on your body and mind. If you don't take steps to help your body and mind cope with it, it can lead to disastrous effects. For your physical health, I highly recommend you exercise every morning or at lunch every day. It can increase productivity and it helps break the routine of sitting in a chair looking at charts all day. In terms of mental and psychological health, I recommend meditation. It allows you to clear your mind and relieve stress. Stress is shown to cause many health problems and sometimes even death. Being able to access your subconscious mind is a major advantage for any trader. Try to take steps out of your comfort zone every day and you will see massive positive effects on your overall livelihood, your career, and especially your trading/investing.

 

28.           Please Be Patient.

This is much easier said than done, however, I believe patience is the key to all success. Most businesses, entrepreneurs, and traders close up shop because they don't see results quickly. It can take years to see results from your work, and that's something most people can't wait for, even though the time will pass anyway. I ask you to please be patient. I've seen to many people close investments out that are taking too long, and then watch them miss out on fortunes if they had just waited it out. Patience is something that most people have to work on and it's hard to come by in today's world of instant communication, social media, and the Internet. People don't have time to wait; they need it now. Well it doesn't work like that here. It's a known fact most fortunes and wealthy people spend anywhere from 10-40 years building their wealth. It doesn't happen overnight, so please, for your own sake, calm down, be patient, and continue to work hard. It will pay off, I promise.

 

29.            Consistency Is The Key.

I find this is relative to success anywhere. It’s pretty simple and it's a concept most push to the wayside. Consistency allows you to focus on one thing and become the best. You create your own niche by being consistent. People remember you for it, and will pay you for that consistency. The markets are no different. If you find something that works and you can do it day in, and day out, you will become successful. That holds true for anything and anywhere, simple as that.

 

30.           Don’t expect anything from nothing.

You need to work. Nothing will be handed to you. One thing I try to do with everyone I deal with is to be honest. You simply cannot start doing one thing and become rich. You need to perfect multiple things, and then perfect them even more. Success is a completion of a goal or purpose. If you have no goal, no work ethic, and have no work to show for it, you won't find success at all, and it's because you don't deserve it. Those that work hard, and show up every day are the ones that make it, and they make it big. So please don't expect to show up and be handed everything or that if you build it they will come, they definitely will not. Instead you need to show up and take everything, don't expect any help, because no one will be there, I learned that pretty quickly. Your future is entirely dependent on you and how hard you work. Just make sure you're working on the right things. One thing I've learned from my own experience and from watching others is that you cannot buy success. It doesn't matter how rich you are the market does not care. You cannot buy a Holy Grail trading system or pay someone to trade for you. If you really want to find success and money in the market, it will be entirely dependent on you being able to work hard, test yourself, study, and step out of your comfort zone. You can't pay for experience, and experience is the currency with which you pay for success. Successful trading is a culmination of extensive training, lots of studying, and a determination most would never be able to keep.

I hope you become the best trader there ever was and make tons of money. Just try to keep these tips in mind and you should do just fine.

Grab all "30" Trading Tips Here



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