Five Steps to Trading Success

Here are five steps, from different sources.

Vantage Point

1. Track, analyze, and evaluate specific markets  on a daily basis.

2. Find potential trades in specific markets or sectors.

3. Confirm potential trades and select those that show highest probability of success.

4. Define entry and exit positions that meet your strategic goals.

5. Review and Evaluate the trade.

OptionAlpha

1. Simple is better – only use a few indicators

2. Test, test, test and test some more

3. Paper trade using your trading system

4. Set a proper stop loss

5. Keep your emotions out of it

Commodityupdater

1. Have a dedicated working environment and structured working hours

2. Have regular performance reviews and keep detailed records.

3. Find a profitable niche

4. Develop a network of contacts and continually upgrade your education.

5. Have the proper mindset.

Kris Mathews

1. Unconscious incompetence

2. Conscious incompetence

3. The Eureka Moment

4.  Conscious competence

5.  Unconscious competence