As we progress along our trading journeys, it’s important to never stop growing and improving. Sometimes, the best way to do that is to take the time to learn from one of the greats. As part of an ongoing series on notable traders, we’re taking time to talk about one of the most recognized names in the space: Paul Tudor Jones.
Slow is fast. And fast is slow.
One common theme among many professional futures traders is that it took them time to learn to become consistently profitable. In fact, many lost substantial amounts as they got started out. Almost unanimously, the main mistake they made was trying to rush to success.
Is your trading where you want it to be in 2018? If not, there’s no reason that you can’t get on the right foot starting now.
But don’t rush.
There are still 125 trading days left in 2018. You can make progress. But only with a clear trading goal. Here are five ways to do that.
The best performers in the world all rely on routines. They are not winging it. Tom Brady, five-time Super Bowl winning quarterback and four-time Super Bowl MVP, goes to bed every night at 8:30 PM. He reportedly wakes up at 5:30 AM to get to work watching game film and working out.
Routines provide consistent feedback and increase performance. In any area you want to excel, you have to develop a routine. It's as simple as that.
Trading is no different.
To get you started, here are four tips for creating a routine that will help you become a successful trader.
Watch our coaches talk about developing a successful routine in this episode of Coach's Playbook.
A trading plan is critical to trading success. Not having one doesn’t make profits impossible, but it does make it extremely challenging to be successful over the long term. A trading plan provides focus, peace of mind, and constraints to allow you to realize when you need to switch something up - whether that’s trading a smaller size or taking a break from markets altogether.
Watch our coaches talk about creating a trading plan in this episode of Coach's Playbook.