When building their "MyTradingStyle" trading style, professional traders rely on the fundamental principle that success in the markets does not stem from imitating others, but rather from developing an approach that aligns with the trader's personality and goals. They believe that every trader has a different way of thinking, risk tolerance, and lifestyle, making it essential that the approach stems from personal experience and careful observation.
These professionals emphasize the importance of simplicity and clarity in analysis, as complex systems are considered a psychological burden that negatively impacts decisions. Using a limited number of tools and indicators, while relying on clear support and resistance levels and signals such as structure breaks or the formation of rising and falling tops and bottoms, is essential for making more accurate decisions. It is also advisable not to be swept away by market noise and to focus on confirming signals before entering a trade.
An equally important aspect is discipline and adherence to the plan. Professionals don't take random risks. Instead, they set small daily goals and strive to achieve them without exceeding them, which gives them psychological stability and emotional control. Furthermore, they believe that repetition is the key to confidence, so they use a demo account to test their strategy hundreds of times before moving on to a live account.