Become a profitable trader Learn How?

09
Nov

0

The Reason Why Traders Never Succeed! How To Become The Trader You Need To Be

The most dangerous trading mistake any trader can make is “system hopping” and we believe that it is the single biggest cause for failure in trading.

System hopping means that a trader keeps changing his trading method, his indicators, entry signals and strategy all the time. While looking around for new strategies is normal in the beginning, when a trader still hops around systems after months, his chances to reach profitability in trading are slim to none.

Why do traders change systems?
Traders are always hoping to find the Holy Grail that will make them a lot of money without putting in a lot of work. But when does it ever work that way in life?

13
Oct

0

The mindset of a professional trader – what pro traders do differently

Do you like challenges and enjoy working hard for your success or are you one of those people who try to look for shortcuts and avoid solving hard problems? There are mainly two types of people when it comes to the attitude towards progress, improvement and success: growth and fixed mindset people.

Most people are not aware which group they belong to, but being self-aware of your personal mindset and attributes is essential for success – not only in trading but in life as well.

In this article, we will help you identify which group you belong to and how you can move forward and start improving.

06
Sep

0

You Are Scared Of Using A Journal

Yes, I know you are scared. Surprised? You know it, too. You know exactly why you are not using a journal. “Later, later”, you tell yourself. “When I have a proper strategy” or “when I am profitable.” Funny! In Germany, we say that’s like shooting yourself from behind through the kneecap into your eyes. You […]

20
Jun

0

The 4 Stages Of Profitable Trading – How To Survive And Thrive In The Markets

We have followed thousands of traders over the years and noticed that they almost all go through the exact same 5 stages. In psychology, it’s often referred to as the “conscious competence ladder” and it applies to trading as well.

Understanding at which stage you are right now can help you make the next step more easily and help you avoid the most common mistakes

Stage 1: Unconscious incompetence

This is the initial phase of a novice trader when he is just getting his feet wet in the markets. At that stage, a trader doesn’t know how much he doesn’t know, which can often be a liberating, but dangerous place to be in because the dangers are not obvious to him.

03
May

0

4 Mistakes That Cost Traders A Lot Of Money And How To Fix It

As we all know, emotions and psychology play an important role in trading and are often the maim cause for trading failure. In our Edgewonk trading journal we included a set of unique features and metrics that not only analyze the impacts of psychological biases, but also shows you exactly how to overcome these problems. In the following article we introduce the 4 most commonly observed psychological biases among traders and how Edgewonk helps you with overcoming these obstacles.

10
Feb

0

9 Tips That Will Help You Deal With Losses Like A Pro Trader

You probably know that you can’t win all your trades. But understanding that a winrate of 100% isn’t achievable and knowing how to effectively deal with losses when they occur are two very different things.

A baseball player who strikes 30% is considered world class, a basketball player who scores 45% is one of the greatest of all time and the best soccer player in the world has a shot accuracy of less than 40%.

In trading, traders go broke with winrates as high as 50% or above. Theoretically, a winrate of 50% should be more than enough for any trader to achieve all the success he is after. However, not knowing how to deal with losses is what breaks traders and it’s one of the main reason why traders struggle so much.

03
Feb

1

6 Ways To Improve Trader Performance

Learning by doing doesn’t really exist in trading and executing trades alone or randomly flipping through timeframes and staring at charts all day long will not make a difference either.

Luckily, there are a few very specific things that can help traders improve their skills rapidly and very targeted.

18
Jan

1

How To Create A Trading Routine That Allows You To Reach Your Full Potential As A Trader

Are you also struggling to find the time to establish a serious trading routine besides working your regular day job, following your hobbies, and spending time with friends and family? You are not alone. We know from first-hand experience that juggling all our obligations while trying to become a better trader is hard.

Establishing a better trading routine and being able to make the most use of your limited time will have a big difference on your trading. The problem is, 90% of all trading sites only focus on how to pick entries and discuss the newest indicators, instead of talking about how to build a professional and structured routine around your personal, daily life.

If your trading could need some structure and if you want to find a way to combine all the things that are important to you in your life, this article shows you how to achieve just that.

28
Nov

2

The Answers To All Your Trading Questions Are Right Here

Doubts, uncertainty and fear are 3 common emotions and states of mind that accompany traders through their trading day and throughout their whole journey. It’s what keeps traders from becoming profitable and it also keeps them trapped in old behavioral patterns, repeating the same cycle and mistakes.

Traders doubt their trading method, the way they manage trades and their own abilities as traders. They are uncertain about how to approach the market, how to manage trades, when to exit trades or how to set a stop loss correctly. And all this uncertainty and continuous doubting lead to fear – the fear that they are doing something wrong or the fear that they are missing out.

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