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How Important Is It to be a Strategic Trader

As a strategic trader, what do you do?

Your aim is threefold:

-Be clear about your target
-Apply your strategy on a daily basis.
-Be strategic on every move

Put a target into your mind. Most traders I met find it very hard to explain why they are trading. They know everything about the markets, the various strategies and theories, but they can’t meaningfully articulate the specific reasons they got into this business, nor have they spent much time thinking about the direction they will take and how they will use their knowledge concretely. But every successful trading strategy streams from purpose and targets. Nothing is more important to a trader than his will of reaching that objective and differentiates from the other traders.

If traders lack a clear idea about what they want from their activity, they cannot create such strategies because they don’t know what these should be designed to do.

The four essential questions a trader has to answer in order to achieve his target are:

-What is my target
-On what kind of assets am I going to trade
-What do I do that’s different or better
-How will I reach my target

A good purpose puts a stake in the ground because you will need to say “I do X, and not Y.” Traders that don’t take a stand, for whatever reason, run the risk of ending up with nothing in their hands and being no different from any other common trader.

Stick with your strategy. Be persistent. Any strategy, no matter how cautiously conceived and how well applied, at the end of the day will fail if traders see it as a finished product. A strategy is not a problem to be solved; it’s an excursion of transformation and evolution that needs continuous nurture. All too often, traders get nothing out of an investment expecting it to be sustainable; and when they get into trouble, they tend to protect their status quo rather than rising and gain new profits. But the secret is to persist, constantly improve your strategies and dedicate yourself to it day by day, year over year.

The truth is that sustainable competitive trades are rare. Whatever starts with a strategy will eventually change, and defending one that has endured its time will simply bolt you into the past. As a strategic trader you must ensure that your trading strategy continues to add advantages over time.

Be the leader of your trading strategies. In setting a strategic direction you will be managing your trades. Your ability to interconnect knowledge, and motivation, is very important. Traders must make decisions every day that should be based on a shared sense of what they are trying to be and what they are trying to do. In order to move forward there should not be disagreement between the two.

Strategy has to go both ways: you need to put effort not only on those positions at the top, but also the ones that are performing way lower than expected. You need to use all the resources in your hands.

Trading: a non-stop commitment. The very act of taking on a good strategy can transform your business. But it’s not a one-shot task. A leader trading strategy is a nonstop responsibility; it can’t be outsourced or solved in one great brainstorming session. As a strategist, you’re the person who must watch over possible trades, making the choices that bring a profit day after day and year after year.

Your strategy is likely to withstand the winds you’re heading into? Great changes that bring you lots of advantages and earnings don’t happen overnight. Rather, it will change because you will bring new strengths and skills on your plate.
And ultimately, the change will happen because of your own initiative. Plan like strategist earn like a professional trader!

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About the Author

Katya Maiselman, BrokerSignals
Washington, DC 20576

Contact Author: request info

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