Trading for a living is the result of doing a lot of things right…
Trading the market for a living does not only depend on being sufficiently funded and trading the charts.
These two components are important, but there are a lot of other things you have to do too.
Including the following:
• Learn and master a truly effective trading strategy like price action.
• After learning and mastering an effective trading strategy, design a tangible and “working” trading plan around it. Refer to this trading plan every day and tweak or update it as you learn and grow as a trader.
• Record your trades in a trading journal and start creating a track record. This is important for keeping you accountable and helping you maintain discipline.
• Identify a logical and tolerable risk amount for every trade you take, do not ever risk more than you are comfortable with losing on any one trade.
Practice proper money management.
• Do not over-trade. Doing everything else discussed will help you to not over-trade. But you really have to be consciously aware of this huge trading mistake.
Most traders trade too much and in my opinion this is the number one reason most of them fail to make a living in the market.
If you are properly funded, have mastered the charts, are consistently and perfectly executing your edge, are following your trade plans, are recording your trades, and not over-trading or over-leveraging, you have a very good shot at eventually making a living from the market.
The trick is that you must do ALL these things right. You can’t just do one, you have to be on top of your game all the time to make a living as a trader.
it’s not easy or get rich quick.
Learning to trade from successful traders can help you achieve your goals faster… Just like any other profession or skill in life is easier to learn from a mentor, learning to trade from a skilled trading mentor is arguable the most efficient and effective way to achieve your trading goals. ( No this is not some marketing pitch lol, I am serious, you need to educate yourself and be around others with the same goals, that is the entire reasons we started this trading community in the first place, ie; to share ideas, to be around other traders who have similar goals and to continue our own learning journey).