In the modern world where everything moves at an incredible pace, haste becomes our main adversary. It may seem tempting to rush towards a chosen direction as quickly as possible, achieve rapid results, and become successful. However, often this very eagerness becomes an obstacle in our development and goal attainment.
The true path is a sequence. It’s a kind of construction set where each block is built on the previous one. Defining a goal, developing a system, backtesting, analysis, demo trading – these are stages that need to be traversed sequentially. Do not deviate from this path because true success lies in the sequence.
It’s the sequence that constructs your path without skipping any stage. Backtesting and demo trading are not just formalities but steps that build your background and make you confident in your actions. Lack of confidence is a result of lacking background.
When you feel uncertain, it’s not always a consequence of negative trading results. Often, it arises due to the absence of background and a complete understanding of your actions. A powerful background is formed not only from successful trades but also from mistakes, from peculiar situations between them.
Without a deep understanding of your actions and accepting them as part of your trading experience, market trading can lead to confusion and loss of control. Therefore, it’s crucial to shape your experience, considering each stage as an integral part of your professional growth.
In the words of George Soros from his book “The Alchemy of Finance”: Uncertainty arises when you lack sufficient information. Experience is your informational capital. Your decision-making confidence depends on its development. Build an action plan for making confident decisions.
An action plan is a kind of compass in trading or any other field. It defines your path, the steps you need to take, and in what order. Build your own algorithm: from defining factors and setups to backtesting, analysis, demo trading, and closing the prop challenge.
It’s in the sequence and thoughtful planning that you will gain this confidence. Each step must be clearly defined, and each decision well-thought-out. Such an approach allows avoiding haste and random errors, providing control over every aspect of your process.
An action plan is the key to success. Define your goals, build a sequential algorithm from analysis to market entry. Every successful trader is a person with a clear plan, a clear understanding of their actions, and a clear understanding of how they, as individuals, react to specific market movements. Dive into the process, experience numerous victories and defeats.
Learn in the process, not just from the result. Learn from history to build your background. Backtesting is your experimental table where you test, make mistakes, and learn their causes. Demo trading is your playground where you use the experience gained to form your rules and system.
Numerous victories and defeats you endure in learning a trading setup build your background. Every day in the market is a new lesson, a new opportunity to enhance your skills and gain experience.
“Do not fear mistakes – they are your best teachers.” Do not let confusion take over.
Confusion and uncertainty arise not only from negative results but also from the absence of background and a complete understanding of your algorithm or setup. In backtesting, you learn to trust your setup, trust yourself. Do not allow confusion to prevail. Work on developing your system every day, analyze each trade, use every unsuccessful moment as an opportunity to learn something new.
Remember, building your background is a continuous process that continues on the path to success. Each trade, even if it leads to a loss, can be valuable experience. Use it as motivation to improve your system.
A powerful background and continuous development will help you not only avoid confusion but also make more thoughtful and successful decisions on the path to financial success. Therefore, dedicate time every day to enhance your knowledge and refine your skills, fine-tune your trading setups, and witness the growth it brings to you as an individual, along with your success in the market.
How to Build a Powerful Background? — Work and don’t stop.