Try and get your strategy and non negotiable trading rules down to a science. Things like your ideal stop loss/take profit ratios, your entry and exit protocols during uncertain market conditions or in damage control situations, your research routine and tools, your diversification proportions, your technical analysis of charts, and your comprehension and utilization of different technical chart metrics and indicators, your financial literacy for reading financial reports, and last but definitely not least is your community. This is one of my highest personal and professional development priorities, and for good reason. Your network composition and your networking skills and approach with fellow traders/professionals in the industry and in life in general, will make or break you. Who you become acquainted with and whomever you associate with will determine your success or failure (this is true in all walks of life). This is grounds for Jim Rohn’s “5 people theory” which claims that you are the average of the five people you spend time with, which I personally think is totally accurate and believe in, not just out of logical reasoning but also through firsthand experience of both sides of the coin, positive and negative applications of this theory have greatly impacted my life and that of many others. Hence, choose your associates carefully, and choose wisely. You will both learn a lot from them, either positive or negative depending on your choice of company, and potentially benefit (or be damaged if you choose to hang around the wrong crowd) from their information, perspective, analysis, and connections they have acquired along the years, and vice versa of course, you could be of use to them. It is always a good thing, unless you let others take advantage of you, to be of use. Nothing fuels and breeds fruitful networking relationships like being of service to someone, it always comes back full circle, people usually don’t forget and will one day return the favor to you and more when you need it most. In case they do forget, remember God above does not forget and the universe will reward you for your services regardless.
Keep your eye on the prize and don’t be distracted by the masses, stay informed, and always always always trust your trading rules/method and make sure they are non negotiable, discipline is key when there are so many distractions and unqualified outspoken amateur opinions on the internet, think and act like a professional and not a layman. Make decisions with the upmost stoicism and the maximum level of emotional restraint, the markets are no place for the weak.
Happy hunting my friends.
