How to Become a Professional Trader – 5 Rules to Develop a Professional Trader’s Mindset

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You want to become a professional trader? Before you start, it’s worth thinking about exactly who or what a professional trader is.

Most people think a professional trader is someone who works for some big bank on a trading desk, but this isn’t true. Of course those are professionals, but a professional trader can be anyone who takes their trading seriously, who approaches their trading like a job and has a set of trading rules that they follow. This might seem like a simple definition, but you’d be surprised how many people approach trading with no plan. And trading without a plan isn’t actually trading – that’s just gambling. And that’s not professional.


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STEP 1: DEVELOP A TRADING STRATEGY – The very first step to becoming a professional trader is to create a trading strategy. This strategy will affect every trading decision you make so it needs to reflect your ultimate goals and the style you use to try and achieve them. And while there’s a lot that goes into creating a profitable trading strategy, there are two key pillars to build around.

The first is that your strategy must have a winning edge over the long-term. Sure, you might have a few winning trades and be happy about your success, but that doesn’t make you a professional trader. A real pro has the ability to repeat their success consistently and over a long time frame.

Second, you must manage your risk. The way to make money from trading is by building on the existing funds in your account. If you don’t protect your bottom line by incorporating an appropriate approach to managing risk, you simply won’t succeed long enough to become a pro.

STEP 2: TEST YOUR STRATEGY – After you’ve created your trading strategy the next stage is to test your strategy in the markets.

Testing is the only way to know for sure if your strategy has a winning edge in real market conditions. For example, if your trading strategy is based on breakouts, you need proof that it actually works. The best way to prove that your system has an edge is to back test it using historical market data and there are many programs that allow you to do this.


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STEP 3: TRUST YOUR STRATEGY – Once you’ve put the hard work into deciding on your trading goals, strategy and style, you need to learn to trust them. What this means is that you should follow the rules that you have set in your trading strategy for a period of time before considering any changes. You need to give your strategy a chance to perform. This can be a major issue for beginner traders as it’s very easy to be reactive and change your strategy quickly in response to a few losing trades. But remember, being a professional is a long term goal so you need to give things time to work. If your level of risk is suited to your broader strategy, you should be able to manage a few losses provided your long term profitability is increasing. Obviously, if you are sustaining consistent losses without any wins, you need to look at whether you have a more fundamental problem with your approach.

STEP 4: STAY DISCIPLINED – Once you’ve established trust in your system, you need to remain consistent in your trading activity.

This means that instead of focusing on making a specific amount each day from the markets, you should focus on following your strategy each day. After all, this is the plan you’ve put in place. Your analysis has determined that this is the way to reach your goals. Anyone can win a few lucky trades. Professionals know how to stay in the game.


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STEP 5: KEEP LEARNING – The best traders and investors are constantly learning and improving their trading abilities.

Markets change. Systems change. New technology emerges. Part of your long-term success as a trader is to continue accumulating new knowledge and experience and applying it to your trading. Warren Buffett, widely regarded as the world’s best investor, recommends that professional traders read at least 500 pages a day. While this might be extreme, the point is that to be successful in the markets you should set aside time to learn more about the markets.

CONCLUSION – There’s no guaranteed way to be successful as a professional trader, but following the above rules will help improve your chances of becoming a pro. Just remember that true mastery of any activity is only achieved through constant application of the processes that lead to success.


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11 Realistic Ways To Make Money Online Today {2019}


◊ How To Make Money Online {2019} — Best Money Making Ideas Online — 11 Time-Tested Ways To Make Money ◊


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The internet offers many opportunities to generate passive income. Whether you’re looking to make some fast cash, or you’re after long-term, more sustainable income-producing results, there are certainly ways you can make money online today. The truth is that making money online isn’t as difficsult as most make it out to seem.


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However, if you’re looking for realistic ways you can start earning money online now, then it really truly does boil down to 11 paths you can take towards profit. Some will provide you with immediate results, helping you to address your basic monthly necessities such as rent, utilities and groceries, while others have the potential to transform your life by revolutionizing your finances in the long term.


1. Become A Money-Making Life Coach From Home (Using An Internationally-Recognized Certification Program… )

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Money Invested: $45 | Time Invested: 110 Hours | Money Earned (30 days): $799

How To Make Money as Life Coach: Life coaching is the process of helping people identify and achieve personal goals through developing skills and attitudes that lead to self-empowerment. Life coaching general deals with issues such as work-life balance and career changes, and often occurs outside the workplace setting. Learn More …



2. Become Affiliate Marketer — Making Money With Affiliate Programs

Affiliate

Money Invested: $1,300 | Time Invested: 72 Hours | Money Earned (30 days): $7,742

How To Make Money In Affiliate Marketing: Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make. Learn More …



3. Share Your Opinions — Make Extra Money Online Simply By Sharing Your Opinions

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Money Invested: $1 | Time Invested: 46 Hours | Money Earned (30 days): $229

How To Make Money by Sharing Your Opinion: A Review ( Opinion ) is an evaluation of a publication, service, or company such as a movie, video game, musical composition, book; a piece of hardware like a car, home appliance, or computer; or an event or performance, such as a live music concert, play, musical theater show, dance show, or art exhibition. Learn More …



4. Become Dropshipper — Make Money With an Online Drop Shipping Business

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Money Invested: $75 | Time Invested: 144 Hours | Money Earned (30 days): $1,415

How To Make Money With an Online Drop Shipping Business: Drop shipping is a business model where you send your customers’ orders to a manufacturer or wholesaler, and they send the products directly to your customer. Learn More …



5. Write an Ebook and sell it on Amazon — Ebook Creator Software

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Money Invested: $55 | Time Invested: 108 Hours | Money Earned (30 days): $773

How to Make Money Selling Ebooks Online: Do you want to learn how to make an ebook from beginning to end?… Writing ebooks is one of the easiest way to earn money. You work on your own time, and when you finish the book – you will make money from it over and over again…for a very long time!. Learn More …



6. Make Money on Twitter — Become a Member of AutoTweets

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Money Invested: $25 | Time Invested: 52 Hours | Money Earned (30 days): $394

How to Make Money on Twitter: Twitter is an American online microblogging and social networking service on which users post and interact with messages known as “tweets”. Selling advertising, sponsored links, and affiliate marketing. Here are a few programs that can help you make money on Twitter. Learn More …



7. Become a Domain Reseller — Make Money Buying And Selling Domain Names

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Money Invested: $55 | Time Invested: 110 Hours | Money Earned (30 days): $1,114

How To Make Money Selling Domain Names: Domain name is like a land on the Web. You can use domains in a variety of ways to make money. Domains increase value over time, especially if they have some commercial value. You can buy a domain name at low price and then sell it high price. Learn More …



8. Make Money In The Stock Market – ( Day Trading )

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Money Invested: $300 | Time Invested: 72 Hours | Money Earned (30 days): $3,177

How To Make Money in Stock Trading: Investing in the stock market can be a great way to have your money make money… Stock trading is not a risk-free activity, and some losses are inevitable. However, with substantial research and investments in the right companies, stock trading can potentially be very profitable. Learn More …


9. Make Money With Your Photos — Sell Your Photos Online

makemoneyphotos

Money Invested: $1 | Time Invested: 74 Hours | Money Earned (30 days): $374

How To Earn Money Selling Photos Online: Who wouldn’t want to earn money by selling their photos online? … Did you know thousands of photographers are making hundreds even thousands of dollars every day just by selling their photos online?… In fact every month millions of photos are bought online which is used for websites, magazines, blogs, print ads, marketing materials and many more. Learn More …



10. Earn Money With YouTube — Become a Successful Youtuber

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Money Invested: $1 | Time Invested: 60 Hours | Money Earned (30 days): $245

How To Make Money on Youtube: You’ve probably heard stories about regular people earning money on YouTube and thought, “Hey, I can do this too!”. Earning with YouTube is easy, but making big money with the platform can be a challenge. Learn More …



11. Get Paid To Test Apps — Make Money Testing Apps

55Apps

Money Invested: $20 | Time Invested: 44 Hours | Money Earned (30 days): $197

How To Make Money Testing Apps: Testing Apps is a great way to earn extra money but it won’t make you rich. The number of opportunities you receive will depend on a number of factors, such as your demographics and your quality rating. Learn More …









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