Free Information to Help You Build Wealth in the Stock Market
Daily Archives: April 6, 2012
To be a successful trader means you need to embrace a proven rules based system. Trading is naturally very emotional as you watch the value of your account go up and down. It is imperative to learn the strategies but equally as important to follow the rules. This is what keeps you in the boundary of consistent profits and on the road to financial freedom.
As educated traders, we learn that focus is on booking profits in our profit zone and minimizing our losses so our overall gain is consistent and highly profitable. Typically, I am out near the top and cut my losses before it hits the bottom of the trade. I am not looking for the “lottery ticket”, I am looking for the consistent profits. I don’t need to pat myself on the back with an over-sized ego so I can tell everyone that I “rode it all the way up” or “shorted it all the way down” as if I am some brilliant trader.
I simply need to apply my knowledge consistently, making nice monthly profits, and compounding my profits to achieve all my financial goals. That is real wealth, accumulated over time, month after month, year after year. The rules keep me in the profit zone and out of emotional trouble holding on too long or jumping out too quick. Neither is an issue for a successful trader.
Three keys for your success to focus on this week:
- System: Will keep me in the profit zone
- Discipline: Will keep me on track
- Consistency: Will keep me from my own ego
Every morning or afternoon when you are applying Rich Dad’s trading system, creating the discipline needed to be a successful trader, remember it is the small things done consistently over time that will bring lasting results and lasting wealth for generations to come. You are the cycle breaker and financial pioneer for your family. Regardless of where in wealth you are right now, following the system, rules, and discipline needed will take you from wherever you are financially right now to the next level. Trust it, follow it, and embrace delayed gratification.