6 Things I Stopped Doing To Become A Profitable Trader

so everyone talks about what you should be doing to become a profitable Trader but no one really talks about the things you should avoid so I'm a big fan of cutting out the nonsense cutting out the bad habits bad traits and bad things that you have in any skill set that you're trying to master and the moment you cut out the bad you automatically start improving so in this video what I want to talk about is I want to talk about the things that you should stop doing today right now if you want to become

a profitable Trader let's start off with the first one so avoid looking at a trade on what you will potentially make so how many of you guys have looked at the trade before and before you even got in before the trade has even moved in your favor you start automatically taking your calculator out and you start looking at what will I make if this trade goes up I'll make ten thousand dollars if this trade goes up I'll make five thousand dollars you start going into the zone of what will happen and what you will make

and so on and you start looking at all the good parts of the trade now this habit is is really really bad this trade is just something that you have to get rid of the reason you have to get rid of this is the moment you start looking at the positives of your trade you start getting a bias right you start only looking for things that confirm that bias you won't look at the bad part about the trade you won't even believe that you can lose money on this trade in return what Traders start doing

is they start avoiding their stop loss they start avoiding what they will potentially lose or if they will lose and that just kind of puts you in a very difficult situation I have been in those situations in my early days of you know when I was trading where I would look at a trade and I'll say I'm probably going to make five thousand dollars and whatever my risk is I would cut my risk out and I would just take that trade hoping that it would go higher and higher or hoping that I would make a

lot of money from it and that would just ultimately destroy my whole game plan the next one strategy hopping now I see so many Traders they find an edge they find a strategy that works for a week works for two weeks and the moment that strategy doesn't work they go on and look for the next strategy now I do agree as a Trader we have to have multiple strategies we have to have strategies that fit and work under certain marketing conditions and we know how to respond to but if you do have a strategy and

it stops working your first job should be to understand why is the strategy not working am I doing something wrong did the market shift directions or is the market not catering to this particular strategy but most Traders they don't look at that they just go well hey I'm not making money doing this I'm gonna go and look for something new I'm going to look for a new indicator I'm going to look for a new structure new whatever it is and I'm going to use that new thing to now make money and what ultimately happens is

you hop from strategy A B C D and you never allow yourself to fully develop an edge like you should as a Trader next try to catch tops and bottoms I know so many traders that get burned from the market because they do one thing where they try to catch the exact bottom or the exact top of a trade and I always tell Traders our job is to take as much as we can from a move we don't have to take the whole move as long as we can get a piece of it and improve

to get a bigger and bigger piece that has a calculated risk and Edge behind it that's what we should take home now there's so many times that I have been in trades where I will walk away making ten thousand maybe twenty thousand and if I held the trade for another 30 minutes another 40 minutes or whatever the case is I could have doubled or tripled my profits now when I look back at it yes I get very upset I get very kind of frustrated mentally but I have to remind myself that that wasn't part of

my game plan that wasn't something I was looking to capitalize on that wasn't something I was even reading in the market I didn't even have any sort of probability aspect or Edge over it so I had no idea that move was going to happen this is the move I prepared for this is a move I planned for and this is the move I executed for I got that move and I need to move on right so next time you guys are in any trade don't say well oh I wish I got in earlier or I

wish I held my trade longer no our job is to capitalize on a move a piece of that move and be able to do it over and over again over a long period of time the big home run trades or the YOLO trades so how many of you guys have tried to hit big home runs or how many of you guys have just taken YOLO trades trying to make a lot of money now I understand our job as Traders is to make money but our job is not to take stupid trades and go out of

control and put on extreme amount of risk now the moment we try to hit home run trades we are immediately entering a territory of putting on more risk right so for example if you want to make ten thousand dollars you're not going to be risking a dollar or ten dollars or even a hundred dollars to make that now if you are in some instances the probability of that happening is extremely low but in real instances if you're looking to make ten thousand you're going to be putting on size if you're looking to make 20 000

you're going to be putting on size so the moment you mentally get to a range of I want to hit a home run and especially if you're not at that place of being able to take the risk being able to take those type of Trades you just put yourself at a big disadvantage and I see so many Traders getting into a trade where one thing they alter is their size they go into the trade and say you know what I'm gonna go in with a thousand shares or a thousand contracts or instead of risking 200

I'm gonna risk two thousand dollars because I think or I'm confident this trade will go higher we do that because we have this assumption that this trade will only go higher and we will be right and the moment we start calculating that and the moment we start thinking we're gonna to be right and how much we can potentially make it just tips everything else off from us and as I mentioned our risk management goes out the window our Edge goes out the window our game plan goes out the window and it's just something that you

don't want to be involved in so next time you're getting into a trade and I realize we want to make money just say this is what I'm willing to risk this is my downside if I'm wrong this is the downside I want to take if I want to make more I have to put more downside which is not the smart thing to do profit goals profit goals profit goals so this is something every Trader does especially me I used to do this in my early days all the time I used to set profit goals my

first year of trading I need to make a hundred thousand dollars this month I need to make two hundred thousand dollars this quarter I need to make x amount now having profit goals is okay in majority of things but in trading it's kind of difficult now let me explain in trading having profit goals is difficult because the market doesn't always present opportunities the market will give you opportunities someday some weeks and other days or weeks it will not give you opportunities opportunities are not consistent so imagine you set out of gold to make ten thousand

dollars this month but this month the market is dead it's flat there's not a lot of opportunity now mentally you get wired to put on trades put on size to hit your goal and that leads to taking on bad trades that leads to over trading oversizing and so on which puts you at a disadvantage so one thing I recommend is do not have profit goals instead have goals such as I want to refine my Edge I want to get better at entries I want to get better at exit I want to slowly increase my size

I want to add another strategy to my playbooks make that your focus of goals this is what I am focused on these are my goals not money related money related goals and trading just end up coming to harness and last one which is kind of counter-intuitive but you have to understand how to navigate through this following alerts in discords telegrams and so on now I don't have a problem with alert services I don't have a problem with telegrams discords Whatever by all means it's fine now the problem I do have is when new Traders come

on board look at someone alerting something saying I'm buying this I'm selling that whatever the case is and they tend to copy without understanding the move without understanding the risk without learning or taking away from it number one most of the time it doesn't work there's very few people whose alert services are actually okay or good most people it's not good and then the second part about that is when you go in and you do get into a good alert service system or whatever the case may be you're not able to learn from it unless

you put yourself in the predicament to say well this person bought here why did they buy here okay how can I replicate this so all I'm trying to say is if you are in any Services that's fine but just look to learn the process look to learn how that person is actually taking the trades how they're executing what their thought process behind all of that is do not go into any any alert service and say well I'm just going to copy and copy what they're doing and hope to make money that's just not the reality

of it I'm sorry to tell you so those are some the things that I think you guys should cut off from your trading and like I said early on guys when things don't work sometimes instead of over complicating and adding things start taking things away start looking at things that aren't working even in your personal life I do the same thing in my personal life when things get too chaotic or too much I go down to the basics and I'm like okay let me go down to the basics the fundamentals and let me see what

are the things I'm doing in my life that I should not be doing once I start removing them one by one My Life Starts drastically improving and the same thing happens in my trading when I enter a trading slump I've realized I'm going to trading slumps and I'm like okay what are things that I need to stop doing and I make this list and every time I make this list and I follow it my trading just without me adding anything just taking stuff away it helps me so much so with that being said I hope

you guys found value in this video thank you so much for watching and I will see you on