Fail, win and then fail some more to become a winning traderJan 29th, 2017 | By Bella | Category: General Comments
Part II of our training program on our prop desk in NYC is Trader Development. There is a lot of necessary and wonderful failing that goes on during Trader Development.
During this process traders experiment with different setups that we highlight. There are trading strategies worth exploration that active traders use to win. We continually point them out daily during mentoring sessions and real-time audio calls.
- This week, traders on and connected to our desk knew we were making large trades in PULM and more importantly, the setup.
- We share my new favorite trading pattern to teach.
- Traders could see and hear my Changing Fundamentals Trade in MAT, which I shared in real-time.
Now here comes the key part.
New and developing traders overvalue finding a strategy to copy. It’s not about copying. It’s about exposure to different setups and then experimentation with different setups and then determining the setups that work best for you.
The new and developing trader needs exposure to many different setups. Setups that are diverse and require different personality sets to excel. Setups used by active traders who are winning with consistency. Setups that offer different talent sets to thrive.
And then the new and developing trader needs to experiment. They need to fail. They need to win. They need to fail some more. They need to archive their winning and make note of their failing. It’s a process. It’s a process of failing and winning and failing some more and recording successes over time that helps the trader then build his business.
Soon through exposure to various setups the new and developing trader will find setups that are best for them. Soon the better new and developing traders will get sick of losing with patterns that are not best for them and in their own time eliminate them.
Experiment. Gain exposure to different setups. Fail. Win. Fail some more. Build your PlayBook.
*no relevant positions