How to Go from Losing to Winning Trades

I had just started my life as a trader, and of course my first and primary goal was to start winning trades. When I first started trading, I was still looking for a job, but I just wasn’t having any luck. For this reason, I decided to start becoming a professional trader, with the main goal of course being winning trades. However, things didn’t quite go to plan, and I started losing trades.

Now, as a professional trader who has been in the business for a long time, I can look back at all of the mistakes I made and provide you with the information you need to start winning trades. The fact of the matter is that I lost about 50% of my trading capital when I first started trading.

Sure, I was winning trades, but not nearly enough of them to make up for the losers. I invested about $5000, and I lost well over $2500. However, as the years went on, I learned from my mistakes, and now I want to provide you with all the information that you need to start winning trades. Let’s go over the biggest tips that you need to follow to go from losing to winning trades.

The Right Environment Matters

One of the most important things that you need to do to start winning trades is to put yourself in the right environment. The fact of the matter is that if you feel pressure to make a specific amount of money, that pressure is going to make you a bad trader and it’s going to force you to make bad decisions. There are plenty of external forces that can affect your decisions in a negative way. Sure, you might want to be a full time trader, but you don’t want to use all of your money.

The fact of the matter is that using all of your money for trading when you need that money for food, rent, and everything in between is not the greatest thing period if you feel pressured to make money, you are going to make emotional decisions because you absolutely need to make that money. However, when it comes to winning trades, having the right environment and mindset is very important.

Have a Real Source of Income

One of the ways to prevent yourself from feeling pressured so you can start winning trades is to actually have a job on the side. Sure, you might want to leave your full time job because you absolutely hate it or you hate your boss, but the fact of the matter is that trading is a business not a job.

It takes many months or even years to learn all of the skills and tools that you need to start winning trades. In other words, you can’t just quit your day job and start trading instantly. This transition is a process that takes many years to complete successfully. You absolutely need to have a stable source of income so you don’t feel pressured to make money through trading.

This will allow you to learn all the skills that you need to know to start winning trades without being pressured. If you look at trading this way it means that you will be much less emotionally affected by your losses, you will look for improvement rather than instant results, and you will be very critical with the tools and strategies that you use.

Don’t Risk More than 50% of Your Net Worth

Many newbie traders who want to start winning trades think that they should invest all of their money into trading. Some people may invest 80%, 90%, or even 100% of their savings into trading in the hopes that they will be able to turn a quick profit.

However, this is of course not a good thing, especially if you hit a losing streak. What you want to do when you first start trading is to start with a very small portion of your net worth.

You can then keep adding funds to your trading account every few months as your skills improve. This way, in case you do lose some trades, at least you don’t lose all of your money. Simply put, never put all of your eggs in the same basket.

Be Smart With Your Money

Keep in mind that how you manage your money will affect how you trade, and it will definitely affect whether or not you start winning trades. If you’re already having a really hard time managing your money, then things aren’t going to go easier when it comes to managing your trading portfolio.

Therefore, if you are having trouble managing your money, this is what you need to master first before you open a trading portfolio. You need to have good money management and risk management skills in order to be winning trades.

You Need a Good Trading Plan

In order to start winning trades, you also need to have a good trading plan, which means that you need to know when to buy and when to sell, but it also means that you need to know which markets you want to trade in, why you want to trade in those specific markets, and how to use risk management.

You want to develop a solid business plan which is your trading plan, and it is a system that you must have in place to make sure that your actions are consistent as possible. The more focused you are on the plan and method that you use the fewer trading errors that you will make.

Build a Watchlist

When it comes to going from losing to winning trades, but you also want to build a watch list. Don’t depend on other peoples opinions or rumors to build this watch list, but that said, you still want to analyze the market to see which securities or currencies that you want to trade with on any given day. You can always use filters that rank stocks or currencies based on their performance, and then go from there.

Analyze Your Results

So you can start winning trades on a more consistent basis, another thing that you need to do is to analyze your overall results. If you never analyze your results, then you just aren’t going to find the mistakes that you are making which are causing you to lose trades.

You want to analyze your results and you want to compare all of the losers to see if you can find any common mistakes that you are making across the board. This way, you can make the appropriate adjustments and start winning trades.

Winning Trades – The Bottom Line

So, if you have a stable source of income, you put less than 50% of your net worth into trading, you have a well written budget and plan, and a well defined trading plan and strategy, then your chances of winning trades increased drastically. Make sure that you have a trading process that doesn’t interfere with the rest of your life, and you should be well on your way to winning trades.

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