10 Secrets of Winning Traders

These are the 10 Secrets of Consistently Winning Traders.

Secret #1. Accountability 

Make your goals public and become accountable to it. We are proud to say that we created a very friendly environment here at AIMS. Become part of the AIMS Forum, where you won’t be judged. You will get friendly remarks and constructive criticism. All to make you become a better trader over the next 12 months.

Secret #2. Create Your Trading Plan: Goals, Objectives

We believe strongly in the mantra of

Working on your trading plan will put you way ahead of the pack. Learn to acknowledge and understand the correct trading environment you need to create.

Get read of all the distractions. Remember we don't live in a perfect world. There will be mental, physical, fiscal and social problems, delays, birthdays, celebrations you must attend, you have to trade through these environments so be prepared to plan or prepare to fail if you don't plan.

We have an excellent trading template and a sample trading plan available for you to use. The 2019 trading plan has been uploaded for you. Check the relevant section in the tabs above.

Secret # 3. Learning is a Never-Ending Process - Growth Mindset

View every day as a step forward and aim to take NO steps back. Read, educate yourself, learn from your mistakes, record the wisdom and learn to move on.

I highly recommend reading the amazing book, Mindset by Carol Dweck. The book will introduce a powerful concept of Growth vs Fixed Mindset. Below are two excellent diagrams of the 2 mindsets.

This Diagram below clearly shows the differences between the two mindsets. We need to learn about it and apply the concept.

Secret # 4. Find Your Focus

We must remain focused at all times. Focus is a Fractal. You need to know what should be your focus during the Minute, the Hour, The Day, The Week, The Month, The Year and the Next 5-10 Years. Keep Your focus on your goals and objectives.

AIMS eBook How to Remain Focused would help here.

7 Ways to Remain Focused during Trading hours

DOWNLOAD THE BOOK HERE

Take your focus away from the Technical Side of trading and direct it more on the "mental" side of trading. 80% of trading success depends on your mind. Again the book above will help.

Secret # 5. Trade the Correct Time Frames that Match Your Personality

I regularly push traders to trade the fastest time frame that suits them. Not everyone can trade every time frame. I did know this 5 years ago. I have learned, after working with over 3000 members, that everyone needs to work on this.

The most important question is, are you a Day Trader, Are you a Swing Trader or an Investor? An intraday or Day Trader does not let trades run overnight. A trader that trades on a swing basis would most probably be trading on the Hourly or 4 hourly time frame. An investor lets the trades run as long as possible from days to weeks or even months using the Daily, weekly time frames.

We are Intra-Day Traders and prefer to trade the fastest time frames.

Identify your destructive habits

Identify destructive habits and relationships in your current life which are pulling you away from your goals and address them immediately. Help on this is available in the mind section. Also Read the Book Activate The Zone Here

 

Secret # 6. Keep a Trading Journal

All the greatest traders I have met or read about appear to have some form of recording mechanism. It is usually a form of a journal and detailed recording of the trading records. Some keep excel sheets, others have databases created for recording the details of trades. Journal is something that covers the overall trading day and the individual trades.

At AIMS we are very proud to let you know that we have a members-only forum with a sole purpose of allowing traders to record their journals and receive guidance, comments and replies from members.

You will find a template in the forum for how to record your trades. It is in line with The T20 Principle that you are supposed to apply during the 3 Stages of Training.

Dr Bill Williams was in the habit of documenting every single trade he has completed and recorded every aspect of the trade including his emotions, how he may have felt during and after the trade.

Dr Williams has been a successful trader for decades yet he never stops recording his trades and he writes The 3 Morning Pages every day first thing in the morning.

[A concept taken from Julia Cameron’s book The Artists' Way]

Secret # 7 Commit to T20 Discipline Training.

Track your trading performance and continue to become a better trader by applying the T20 Principle (Taken from Trading the Zone by Mark Douglas)

You will end up pushing further and becoming better and better. You'll battle yourself and although stuff will get harder it will also become more enjoyable because you'll see your progress and evolve at an alarming pace.

So, please start a journal in the journal section, follow the template of posts provided. Also, you must include a screenshot of your trades.

Oh, the power of this is so strong and effective but I don't have space, enough, to write it here. Suffice it to say, DO IT TO BELIEVE IT – IT WORKS.

Secret # 8. Regular Physical Exercise

Exercise (cardio) is more than exercise. It’s like a daily ritual which allows your mind to escape the minefields of this world. You are in your own company, you and you alone. Its ME TIME... Have some me-time daily. Go for half an hour run or brisk walk. Hop on a bicycle or if the weather is "shite" like we have it here during the winter in England, then consider joining a gym or yoga classes.

Swimming and sauna might be another "beautiful" thing to consider. You might be wondering what's Immy talking about? Why do I have to join a gym or exercise? I want to make money. Well, if you want to become good at trading you must have a better mind, and to have a better mind, you must have a better healthier body.

All successful traders do some form of exercise/workout regularly. (You are what you eat ... remember)

Secret # 9. Learn to Meditate and Make it a Habit

Meditation for Mindfulness is a powerful habit. (watch the words I chose. Not thing, not just a hobby, a Habit).

According to NHS (National Health Services) " It can be easy to rush through life without stopping to notice much. Paying more attention to the present moment – to your own thoughts and feelings, and to the world around you – can improve your mental wellbeing.

Some people call this awareness "mindfulness". Mindfulness can help us enjoy life more and understand ourselves better. You can take steps to develop it in your own life."

So, if you learn and apply to meditate for mindfulness you will transform, and trading will become a very stress-free and calm even fun activity.

There is a lot of help on this in the MIND Section. Please consider spending "a considerable" amount of time in The Mind Section.  

Trading In The Zone Section in the Forum [LINK]

Activate The Zone 2nd Edition Book 

Secret #10. Put in the (hard) Work

Learning process speeds up if you integrate many forms of learning. We gather information through all our senses and as such the process of learning requires multiple channels. Which is why we have put the effort of Writing eBooks, Creating Forum Topics, Pages like these.

Add to that we have added visuals in the books and in the form of videos. Videos are great because you can see, hear and read at the same time.

So, you learn using your skills of reading, listening and seeing. The final piece of the puzzle is actually, DOING IT. There are some videos here in the dashboard section, but the forum is where all the information originated.

So, there is a Video section in the Dashboard and in the Forum. Please go through all the videos.

Webinars, Tutorial videos, daily digest videos and some live trading videos. It does not matter how old the videos are, the methods are still valid and used exactly the same way.