how to be a world class trader?

primitivetrader

Well-Known Member
#2
How to be a world-class trader?

Be it Day/Swing trading

Experts, please throw some light
what is your definition of world class trader ?
 

primitivetrader

Well-Known Member
#4
Sir,

I think you are the best person to define that

But, for me
The world-class trader has
- fewer losses and more profits
- pre-defined entry and exit
- won't change the system no matter what
- let the profits run
- cut the losses asap
etc...
in short as per you world class trader must have a good objective trading system and good trading/life habits. so get the both and you will become world class trader.
 

primitivetrader

Well-Known Member
#9
Thank a lot
As per you, what do you think about a world-class trader?
I dont know about world class trader. But i can share what i do and how i approach trading

1) as per me if you want to make good money in trading move to higher tf's like EOD/WEEKLY/MONTHLY. this is what i am doing but in a slow manner and its my goal to completely switch to such tf's rather than slogging myself on lower tf's/ EOD/weekly are my preferred tf's. I trade from from the long side only and that is also the plan for long term.

2) once you switch to such TF's things become very easy provided you have patience & discipline. if you have these 2 good habits any decent rule based muti time frame trading plan can and will make you money. even plan based around simple PB to moving averages will work (elder comes to my mind here with triple screen ).

3) for me if i am doing most of my work in market hours that means i am not following the process. key to success in trading for me is that during mkt hours only work a trader can do is to place orders and manage positions nothing else related to trading.

4) have a rule based trading plan which uses multi time frame. for me i always prefer to buy cheap and sell expensive. that is what we are suppose to do in any other business or in any other financial activity, why try to do different in trading.

5) take extremely good care of your mental/physical/emotional health if you want to be successful in trading in long run. if you are not healthy forget trading. this is the most imp thing for me as per my experience.

6) build your account or start with good corpus if trading from EOD/weekly.

7) look for trades which gives minimum 1:3 short of rr. this is minimum.

8) invest in good chair/computer table probably ergonomic

9) if finding difficult to learn on your own from books/forums get paid trading education. it has helped me a lot. vet the educator properly ( but not from his trading statements ).

10) keep the end in mind. what do you want to achieve in 6 months/1year/2year/5 years and dont be conservative here. if this is not in place rest of the above points are useless as then it will be life by default not by DESIGN.

hope any or all of the points may be useful for you.
 

lemondew

Well-Known Member
#10
Everyone comes to market for different reason some to make quick money, some retired people for pass time, some for their day jobs, some for selling tips, some for training. Some for world class now.

you need all the things that will keep you going till there.

To be world class at any thing, it has to be more than money
Seniors must know more than me
There are lot of full time traders in our forum, they can share their thoughts
 

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