Observing Traits of Great Traders: Portfolio Update
You will never have a greater or lesser dominion than that over yourself…the height of a man’s success is gauged by his self-mastery; the depth of his failure by his self-abandonment…
and this is the law of eternal justice. He who cannot establish dominion over himself will have no dominion over others.
–Leonardo Da Vinci
Being a disciplined trader is crucial for success in the markets. Trying to win without a trading plan is like attempting to build a house without blueprints—costly and avoidable mistakes are almost guaranteed. Not that you can’t do it but why would you? A solid trading plan includes a personal trading method with specific money management and trade entry rules, providing a roadmap for you.
Going forward, I would like to focus this page on trading again. It is why I started this. I wanted to help others learn how to do this. Get around all the BS. Trading is a journey within. The simplest and deepest philosophical question. Know thyself.
Most pages will focus on keeping the summer exciting. New trades. Huge move and so on. What you will see here is discipline.
Discipline is a common trait among exceptional traders. It serves two main purposes: maintaining effective risk control and applying trading methods consistently without second-guessing. Remember, you're responsible for your trading results. Successful traders never blame others for their losses. Accepting responsibility keeps you accountable and focused on improving your strategies.
Independence in thinking and decision-making is vital. Make your own trading decisions and avoid relying on others' opinions. This fosters confidence, another key trait among successful traders. They have unwavering confidence in their ability to win in the markets, which helps them view losses as an inevitable part of the game rather than setbacks. More importantly, rather than revenge trading and trying to make your money back.
Losing is an intrinsic element of trading. Great traders understand this and maintain confidence in their long-term success. They know that individual losses are just part of the journey. Fear of losing can lead to taking large losses or missing great opportunities, both of which can derail any chance of success. Embracing losses as part of the process and maintaining confidence in your overall strategy is essential for long-term trading success.
A couple new videos you might have missed: Live with Pantheon Insights and Ian Culley -This was one of my favorite pop up lives of the year. Great charts and insights from a team of great traders. https://youtube.com/live/51eT7qCPOsk?feature=share
Also, our weekly video with Kevin Green live at 11am EST every Monday. https://youtube.com/live/8vBu2wULEMk?feature=share
Also everyone is watching these on X. 95% of viewers actually. Which is fine but if you want to chat with us. You need to go to YouTube.
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