subject: Treat Trading Like A Business And You Shall Become Successful [print this page] If one wants to be a successful trader and investor, one must full analyze and clarify its setup before going in the markets. It is not enough to decide just when you will get in like many people are led to believe. You will also have to face tough and difficult questions like what would you if you woke feeling ill that morning. This sounds a bit too far, but it is truly essential that you have everything answered before attempting any trade.
Only by having answered all the possible questions that might arise when trading the markets, will you be able to become a prosperous trader. Even though it does not look like one, you must treat, each and every day, your trading as a business. I dont know why many people are led to believe that just because they are working solely, all the managerial and entrepreneurial rules do not apply.
It is quite the opposite actually: since you do not have a whole team working for you to take care of this (not so) small details, you leave a lot of money on the table by not paying full attention to important aspects of trading. You must realize as soon as possible that the more seriously and business-like you face your trading career, the more you shall be able to improve your performance by a proper and through analysis of your trading skills.
I highly recommend Joe Rosss book Trading is a business. In this book, Ross treats the subject with care and explains it fully why and how you should look at your business. There is so much more that you might not be aware, but that make a world of difference when it comes down to results. Im sure you will find much valuable information as I did, and perhaps it will increase your profit by changing the way you see and evaluate your trading style.
