In today’s article, we are going to look at some of the ways that one can improve their trading results quickly. This article will summarize some crucial points that have helped me in becoming a better trader in automated trading. Some of the points might surprise you but believe you me; these strategies are going to change the way you think, boosting your performance in this area.
One of the things that have helped me to overcome the odds quickly is cooperation with other traders. In the past, I used to believe that I was the best and did not require any help from another trader. However, I realized that there are other talented traders who we share the same objectives. These traders have helped me to come up with better strategies that have improved my success significantly.
Cooperation and team spirit with people that you share common objectives will boost your success in trading. Remember, each member of the team has unique skills and extraordinary experience. Discussing the issues that each one of you has faced will help you in having the knowhow of approaching different trades with caution. Over the time we have worked with my team, their experience combined with mine has helped me to be more open in many projects. Trust is always crucial especially in my case since I take a long time to learn the values of my co-workers before trusting them fully. However, I have always cared about their open and broad-mindedness because I believe that they are the most crucial values that my co-workers need to have.
When choosing your co-workers, I usually recommend you not to hurry. Tests their skills limit slowly so that you can work with people that understand trading and have real experience in live trading. Without trading experience, there would be no enough caution and care as most beginning traders lack real experience making them more naïve.
2. PAPER, PEN AND CHART SCREENSHOTS
I have spent countless trading hours just with paper, pen, and chart sessions. Although there are many modern techniques, I still find this old-fashioned technique very powerful. While using this technique, you are rarely disrupted by other tasks, you also do not overcomplicate things, and this will help you to focus on what is important.
I simply start by printing out the chart that has the indicators, trades, or breakout levels and then starts analyzing them. This helps me to get the ideas for the rule or how I can make the trades better. By so doing, my creative part of the brain kicks in, and I start making relevant notes. I can spend a day making the notes and then move to my computer and start testing the ideas. I have come to realize that trading is to a certain level a creative process and this old-fashioned process have really helped in improving my trading skills.
3. Losing trades