Roadmap to become a successful trader:
1. Trading system
A trading system is the offensive weapon to get more money.
- Learn the basics (market structures, R/S, candlesticks patterns, etc.)
- Find 1 or 2 killer setups
- Backtest and store past data (WR, RRR, etc.)
- Trade
2. Risk management
Risk management is the defensive weapon to protect your money.
- For 30 days focus only on risk (not money)
- Store data and check progress (in the meanwhile you develop some self-discipline and consistency)
- Repeat
3. Psychology
Psychology is the tool to control your offensive and defensive weapons.
- Think in probabilities (Everyone can lose the next trade)
- Think long term (1 trade is nothing, 1000 trades are everything)
- Use mistakes and failures as fuel to become a better trader
4. Mix everything together
Trading is much more than a trading system.
- Without a profitable trading system you cannot get more money
- Without proper risk management you cannot protect your money
- Without a proper mindset you cannot survive in the long term
