It is each trader's responsibility to develop the skills and discipline necessary for successful trading. In many classic trading books there are observations about what accounts for successful versus unsuccessful trading. Interestingly, there has not been many changes over the decades in this area. It seems to be the same aspects that constantly haunt traders.Trading is like any other profession; the student first learns the basics, and then expands to more sophisticated and in-depth learning in the chosen field. There are no skilled professionals in any field who have not reached a level of expertise without hard work and substantial experience. Any professional field requires a commitment and willingness to go through successes as well as failures. The failures can be the greatest teachers. Study the failures to develop into a better trader. Perseverance is a universal key to success.Developing a mind-set that is conducive to trading will be essential to a trader's success. This will include thinking in terms of probabilities, and accepting the fact that losses is simply the cost of doing business. This is a process in itself to learn. These concepts must be internalized so they become a part of what you do each day without conscious thought.Often too much time is focused on learning the method or system in the beginning. This approach is contrary to the steps that must be done to meet success. Focusing on learning a mental approach first would be more beneficial. It is imperative for traders to understand that there is a learning curve and money can be lost if traders do not take steps to protect their capital.Every trader has to go through essentially the same learning curve; no one seems to be excluded from it. If traders take the time to investigate the mental approach they will need to execute their plan, they will be far ahead of the game. Failing to plan is planning to fail.I have covered 10 of the most unique, frequent and important patterns that are presented in day-to-day trading. I have provided credits for the original author. There may be other patterns which appear frequently which i may have failed to cover.A word of caution, this material is based on the probabilities of trading. Find some patterns that pique your interest from the 10 patterns presented in this material and master them. You only need one single pattern to be successful.
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