Every day I get asked at least once how you become a professional trader and I want to spend a few moments on this topic to help you understand how you can become a professional trader yourself by following a few simple and important principles.
The pro mindset
Let’s first understand what the pro mindset is and then we can relate that to trading…
Can you imagine Jeff Bezos sitting at the register and scanning your groceries? Or Usain Bolt selling furniture at your local IKEA? How about Warren Buffett being a cubicle worker, answering calls in a call center about a software issue?
Professionals have special attributes and characteristics and when we see a successful person entering the room, people turn around, attracted by the confidence and the self-assurance. When we look at anyone at the top, it becomes obvious why they are successfull and outperforming and we cannot imagine it any other way.
When a professional goes to work, he doesn’t fool around but he does what is necessary and what he has to do, whether he feels like it or not.
Can you imagine Michael Jordan complaining about being too tired to work out? Do you think Mayweather or McGregor take days off because they binge watched a whole season of House of Card and slept late? And do you think Bill Gates wastes his work days checking the Twitter feed, engaging with internet trolls or playing Candy Crush for hours?
Of course not! Pros do what they must do. They don’t always feel like it and they’d sometimes prefer to skip their routine, but they don’t! They are driven and they don’t make excuses.
Here are a few key attributes and characteristics that describe the pro mindset:
The professional puts in the work. He is always the first to work and the last to leave.
“If people knew how hard I worked to achieve my mastery, it wouldn’t seem so wonderful after all.”
Professionals don’t look for excuses and take full responsibility for their actions.
“You are responsible for your life. You can’t keep blaming somebody else for your dysfunction. Life is really about moving on.” – Oprah Winfrey
The professional is confident and not influenced by other opinions.
You have to expect things of yourself before you can do them. – Michael Jordan
The pro does not take shortcuts and he is in it for the long term.
“Those that spend the most effort in search of shortcuts are often the most disappointed and the least successful.” – Seth Godin
Failures are not discouraging to the pro, but he understands that it’s a part of the journey.
“Every adversity, every failure, every heartache carries with it the seed of an equal or greater benefit.” – Napoleon Hill
He is obsessed by details and looks for every opportunity to become better.
“There’s no talent here, this is hard work. This is an obsession. Talent does not exist, we are all equal as human beings. You could be anyone if you put in the time. You will reach the top, and that is that. I am not talented, I am obsessed.” — Conor McGregor
We always know what to do, but we rarely do it. We know that we have to work harder, that we should accept setbacks, that we don’t blame others or our circumstances, or that shortcuts do not really exist.
If you can’t fully commit, then you are not ready and you’re not able to live the pro mindset and have a pro life!
But if you don’t want to accept mediocracy any longer, if you have big dreams and you want it really bad, then there is no other way than doing the work. The pro doesn’t whine or wait for approval – he goes out there and does his thing.
If you want to learn how to trade with us and from us, then take a look at our pro room. We help you become a pro trader: Tradeciety Pro Trading Course
The professional trader mindset – 9 simple steps
I don’t want this to be just like a motivational pep talk, but I want you to get something out of this article.
If you want to become a professional trader, then you have to start behaving like one. Most people treat trading like a hobby and that’s why they will never make it. Trading is a serious business and you have to treat it as such. If you really want to support your family and build a life on top of your trading, your actions must match your words.
Here are my top 9 tips for becoming a professional trader:
A professional trader has a system and he does not jump around from one system to the next. Stop looking for Holy Grail methods! Instead, learn and master one single method.
A professional trader doesn’t gamble and he has strict money management rules. If your account has wide swings, deep drawdowns and big jumps, then you’re not adhering to sound money management principles. A pro controls his risk!
A professional trader follows a routine. You have to know when to analyze the market, how you prepare for the trading day/week, when you sit in front of the charts and how to review your trading. The amateur just stumbles around without a plan.
A professional plans his trades in advance. He writes trading plans and then wait for price to come to him, instead of chasing price and trades.
A professional journals all his trades and reviews his performance. If you don’t record your trades, how can you expect to learn from your past mistakes?
The professional understands the role of losing trades and he knows that they are just as normal as winning trades. The pro does not change his approach or loses confidence after a few losses but he accepts them as part of the game.
The professional got his expectations right and he knows that trading won’t make him a millionaire within a few years. Only if you can be patient and realistic, you can make the right decisions and perform well as a trader.
The professional has rules and respects them. Whereas the amateur blindly and curelessly jumps in and out of trades, the professional has rules for all aspects of his trading. Better, create a checklist and follow your rules religiously.
The professional understands that trading is not only entries and he knows that he has to focus on all areas of his trading if he wants to succeed. The amateur focuses exclusively on entries and neglects the importance of the other aspects of trading.
You can become a professional trader today if you really want it. Don’t just say that you’ll do it next week or month – there is no need to wait for January first to start living the life you really want. Today is just as good as any other day.
Once you start acting like a pro and follow the 9 principles, your trading will transform and profitable trading is just a matter of time. I promise. On the other hand, if you keep following the same old patterns, you will get the same results without any chance of profitable trading.