Wisdom says work hard and you will get ahead.
Trade the most and the longest and you will be the top trader.
It's not necessarily true in the world of stock trading.
The more years I trade the more I am convinced that this isn't what works.
It leads to burnout, eyestrain and a trading account that scares you when the balance is checked.
I've done the daytrading, scalping, screaming, in and out in seconds trading and it left me frazzled and a little bit crazy.
Traders tend to be entrepreneurial types with the good and bad that goes with that.
We tend to believe that to be top trader we need to work long, know more and treat trading like we are entering the battlefield every morning.
Sitting in front of that screen looking at charts all day often results in overtrading.
I'm sitting here so I need to be trading(working).
I take a loss and now I really am looking to get even which is classic "revenge trading".
Easy trading means fewer trades, more relaxed trades and a different mindset.
Lower your weekly goal and think about compounding your account.
It's pretty easy to work up a spreadsheet to see what your results might be with compounding.
I trade Forex as well as the stock market.
I have lowered my weekly Forex goal to 5 pips! Pips are points in the Forex world.
5 pips is nothing! I've done a spreadsheet to show what these meager pips will compound to and it's incredible.
I also quit trading as soon as I reach this goal each week and feel good.
I really look forward to trading the following Monday.
I treat my stock trading the same way.
I now only swing trade taking maybe 1 trade a day and letting it go from 1 to 10 days.
I am trading better by only taking the ideal setups and making more money.
Top trader to me means easy trading.
It's the happy, confident trader with a great income, a happy wife and of all things, a life.
Check out my site for more info.
on how I get my trading ideas and a great stock pick.