Table of contents:
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The professional trader knows how to wait for the best trading opportunity. He/she patiently waits for all the stars to align before pulling the trigger.
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The professional trader is prepared to skip trades if they are not in line with his/her trading strategy.
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The amateur trader always ends up over-trading and is usually increasing the trade size after a losing streak.
The professional trader is not looking for perfection, while the amateur trader is always looking for a holy grail.
Trading is a journey and not a quick one; if you want to become a professional trader, you need to follow strict guidelines and have a default plan in case things go against you – and they almost always do!
To make it to the pro league, you need to start with the right trading mentor. Your journey doesn’t have to stop here. Even if you find the best mentor, he/she cannot teach you how to be profitable.
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They can equip you with the right tools and give you the road map to success, but ultimately it’s up to you. If you don’t follow these rules and if you start jumping from one strategy to another, you will surely end up either as a losing trader or quit trading.
Therefore, professional trading is more than anything else a long journey of self-discovery that uses a predetermined roadmap. This does not mean that it is always predictable and clear – on the contrary – trading is like discovering the same mountain top by taking a different route each time.
The professional trader understands that next level trading is in his/her willingness to consider risk and embrace the void of potential failure.
Professional trading never excludes the risk of failure. In fact, good traders never underestimate this possibility and do everything possible to protect themselves from such risks.
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Different options are possible, but one of the most common is to split your capital between different brokers and always have capital in a non-tradable bank.
So let’s say you want to trade 1,000 USD. What a professional trader might have done is take 500 USD and put it in a bank. Another 500 USD, he/she can divide into 5 equal parts and trade with 5 different brokers.
Of course, these are hypothetical numbers. Some traders may prefer to use only 2 brokers and not deposit money in a bank. The important thing to note here is that one of the ways to try to protect yourself against unexpected events is the one mentioned above.
“A trading strategy may not work” is not just something to be tolerated; it is something to look for.
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Trading is more about learning how to swim and stay above the surface than saving yourself from sinking.
The amateur trader is afraid of sinking, while the professional trader just wants to keep swimming. Drowning is not an option, although it is certainly a possibility.
Not necessarily in this order, these are three of the main ingredients that distinguish the professional from the amateur trader.
Human beings have greatly exaggerated the danger of drowning, without celebrating the value of swimming. In one of my articles, I describe the process of becoming a professional trader.
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Some say it takes 10,000 hours to master anything including trading and maybe they are right. Check out my article for yourself HERE.
Trading is like trying to find your final destination without a GPS. It is a journey of self-discovery that does not guarantee success.
Professional dealers know this and don’t even ask for a guarantee. They know that if something has worked in the past, it doesn’t necessarily mean it will still work when they get the next trade.
Professional traders also know that a large part of successful trading lies in knowing how to properly manage risk.
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So what many mentors lack is to start with the risk management part. On the contrary, I have discussed this topic extensively in my trading strategy. In fact, my entire trading program is built around the concept of how to properly manage risk.
After all, what makes a professional trader happy is not fast trading. It is the methodical, well thought out and planned process of achieving sustainable results.
Professional trading is almost like waiting for a certain setup (THE SETUP) to appear on your charts and then simply following a number of predetermined rules. No two trades are alike, but there are certain similarities that professional traders are constantly looking for.
In fact, successful trading can be boring if you measure it by methodology. Paradoxically, it is perhaps the most mentally and psychologically challenging job out there.
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I don’t think there is such a thing, at all! After all, great marketers are one trick ponies! Real grit
The basic part of a training camp is about eliminating the grit and everything that interferes with the coherence of the group.
It’s human nature to want to remove all the pieces that erode work and make a trading situation unpredictable.
The grain in your spinach is exactly the same grit that people look for in a leader or a business hero.
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This is what professional traders do best – being able to rise in the face of adversity and do what is right for their P/L (not their ego).
A woman is the attitude of someone who understands that he/she has the power to make a difference and intends to do what is right.
Instead of writing a long paragraph, I will list the factors that are preventing amateur traders from joining the professional league. The top ten mistakes amateur traders make are:
No one said trading was going to be easy, but if you want to become a professional trader, make sure you print out these 10 statements and build on them. Here is the list again:
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It’s easier said than done, but most amateur traders will go with option 1, while professional traders will instinctively choose the second option.
What makes a great trader is also experience. I have written about the 4 Levels of Trading and I believe it takes time to reach a professional level in trading.
If you feel that you are ready for a long learning curve and long hours absorbing all the necessary information first, then you should hunt for professional trading.
In case you are not ready to commit, you should not complain about mediocre results and consider trading as a hobby.
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I strictly use a professional price action strategy, an extract of which you can see in the video below:
Again – I can’t express how grateful I am to all my followers who voted for me and I was chosen among many mentors and other business bloggers. This is your prize!
Disclaimer: Any advice or information on this website is general advice only – It does not take into account your personal circumstances, please do not trade or invest based on this information alone. By viewing any material or using the information within this site, you agree that this is general educational material and will not hold any person or entity liable for any loss or damage arising from the content or general advice provided herein by Colibri Trader Ltd , its employees, directors or other members. Futures, FOREX, CFD, and spot currency trading have great potential rewards, but also great potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFD markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to buy/sell futures, forex spots, cfds, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. Past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Trading Forex, Futures and Options has great potential rewards, but also great potential risks. High leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, Futures and Options and be willing to accept them in order to trade in these markets. Forex trading involves significant risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinion, news, research, analysis, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that past performance of any trading system or methodology is not necessarily indicative of future results. The success of any business depends on the skill and abilities of its entrepreneur. Identifying opportunities, building strategies and executing requires skill, patience
