7 Principles that ALL Successful Traders Follow
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- เผยแพร่เมื่อ 14 ก.พ. 2024
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There are so many principles it was hard to fit them all into one video. I am curious though, if you had to add a number 8 to this list... what would it be?
8. Cut losses quickly, learn from it and move on.
I always say one of the most important things I learned was to work on percentages not dollars. If you put a dollar in and it goes to 2 dollars, don't look at that as oh well that is just a dollar. That is actually a 100% ROI. This is usually the first thing I tell someone when they ask me for any kind of advice.
It also helps to point out that it takes a larger percentage just to recover so cut your loss. 10 dollars goes to 5 dollars, that is a 50% drop but to get that 5 back to 10 you're expecting a 100% move just to break even.
Lean into the style of trading you want to do. Don’t try to make something work that you don’t understand. I.E. don’t scalp small caps momentum when your psychology wants to do supply and demand.
Trade with conviction
Dont use tight stop loss. It just doesnt work!
According to the video, here are the seven principles that all successful traders follow:
1. Patience equals profits: Avoid impulsive trading and take a few solid trades per day.
2. Markets are always changing: Adapt your strategy as the market changes.
3. Obsess over your process, not profits: Follow your trading plan and don't chase daily profits.
4. Be a self-aware trader: Take care of yourself physically and mentally as trading is a high-performance activity.
5. Simplify your strategy: Learn three concepts of your trading strategy and focus on a few stocks.
6. Adjust your expectations: Set realistic goals and weekly targets.
7. Be a leader, not a follower: Develop your own trading ideas and strategies. Don't blindly follow others' trades.
Thank you!!
Process over profits . Follow the pattern . I write up an entry report BEFORE each trade . WHY am I buying . WHEN will I sell . HOW can I protect my profits . HOW much loss before selling . THEN I go ahead and buy !
Great advice. I'm gonna employ this for here on out. Ty ❤
I love watching Peachy Investor, Stock Brotha, & Everything Money. Love them all! ❤ ❤ ❤
please I need more education!
I would add these:
8. Follow the money. Money attracts more money. (Meaning High relative volume and positive sentiment) We are in this game for money affer all.
9. Socialize with peers. In person or digitally. Trading can be hard af when you are totally on your own. Find people who enjoy the passion of trading/investing/stocks etc.
10. Stay away from daily weekly and monthly profit targets. The target should always be executing the strategy as best as possible. Excute, get green, get out and be profitable long term. Simple. Do it.
11. Price Action via candles and patterns is the best indicator there is. All other indicators are just an assistance to affirm your execution. Moving averages, vwap, RSI, macd, etc. All good but none of them are as good as the intraday candles. After candles the next best indicator is volume. Next one is the Order flow in L2.
I've been trading for over 10 years, and I can tell you are the voice of experience, this is a very savvy and wonderful list, great job in presenting it, thank you so much.
#1 patience pays. Beat over trading. Set a time window 9:am-9:15 process>profits. risk reward go for 2R , 3R trades. Lead dont follow is huge, also known as accepting the responsibility and goes along with accepting the risk. Keep chart simple, Trade price action breakouts (rectangles) and vwap longs only above and shorts below, Wait for Multi time frame alignment trades. 1-2 a day is all you need
I’ve never thought about only long or short relative to vwap, I’ll look into that thanks
Literally found you, and watched 3 of your mindset videos in a row. Love your content.
I’m so glad I came across your channel, I’m really enjoying the content
Thank you for this reminder & overall look. Great advice 👍
Thanks for the advise...Keepem coming :)
Love this channel! representing NC strong! This is Accurate I must say!
Many thanks for sharing your valuable thoughts. Really appreciate it!
Great content here. Thank you.
Thank you Britt. Always great information and very well presented
Excellent advice. I've gone through this and learned the hard way
Love your content! Thanks for all the hard work producing this. Key take away for me (on this one) is trade window limitation and journaling! I haven’t yet started full time day trading and your mentoring is great prep.
Great video !! Thank you for sharing your knowledge
I just came across your channel yesterday and I have to say you are such a great teacher. You are so articulate, knowledgeable, and concise. Glad I found you
Thank You!!! Just getting started.
Needed this!
Basically it´s about control of your picks in planning, execution & reflection. Thanks for the advice. Patience is key - keep your emotions in check. If you win, celebrate less. If you lose, don't let yourself down too much. Find a baseline. Focus & knowing your timeframe is really important in my eyes.
soooo good thank you. thumbs up and subscribed!
Thank you!
Listening and learning. Thanks for sharing your experience
Youre awesome. Thank you
This is excellent advice. Thank you.
Great tips 👍🏽
This video came along at the right time. I am struggling after some initial success. You helped me realize that I am over trading and need to be patient and slow down.
I'm New on your Channel, but i love much! Very nice!
great video and very informative. thank you
This was very helpful!!
Thank you Peachy. Very helpful.
Awesome video. Thank you Brittaney
Thanks Britt!! Love these tube videos. One year 3 of my trading journey and you have helped me a lot❤
You give some really great advice. You make easy to understand videos as well you’re a really good teacher thanks for all your hard work.👍👍
Thanks, you’re a really good teacher 🙏👌
Thank you for the content.
VERY helpful video, Thank you
Many thanks 😊
thank you very much for your very clear and understandable explanations,
A very informative video. Thanks for sharing.
Thank you. 🌷🌷🌷
I love your videos, keep it up your doing amazing!
Thank you :)
Thank you so much for this lesson as always you do 🙏🙏🙏👏👏👏
Thanks for the Advice, from a middle aged unemployed Canadian
Love this principles
Truly enjoyed watching you Peachy Investor. All good advice. Thank You!
Excellent video, I've learn a lot with you. Actually i was watching a really complex trader but with some of your videos i have accomplish little rewards, so im learning. It would be really helpful if you get more complex with trading the tendency !! thanks
❤Peachy really good one thanks for your time
Principle 8 follow your rules
Great list!! For others that may read this comment, it sounds like a simple list but if you're just starting out trading, in a couple of years, the list will be more profound and meaningful. I say that because as she knows, it takes a couple of years to realize your inner weaknesses and strengths you never confess to others. Everyday it's a battle against yourself in these 7 areas she points out. For me, my biggest challenge was and still is, why can't I cut my loss faster? Why do I continue at times to hold onto a loss longer than I should? Each day you want to ask yourself, how did I fare in the battles (trades(s) today?
Make sure the battery in your mouse is good.
You speak the truth my friend. Thanks for another one❤
One thing I do before I trading is playing some music that puts me in a great mood. I’ve found that feeling great before I open a chart really gives me an edge.
Trade what you see, not what you think 😅
This is a big one for me
@@user-ve4ye6kx4v yeah, trying to out smart the markets is futile lol
The beginning... ADHD... That hit the spot for me. Thanks for saying that, 💙
Amazing advice. This video really spoke to me. You are a treasure!
Process over profit really hit home, especially when involved in prop firm evaluations we (I) can get obsessed over p/l.
It's funny how most of these principles are common sense, but until you verbalize or write them down, they stay in your subconscious mind. I'm making a poster soon with space on the bottom of page for 8,9,10 to see them daily. Thank you for your time 😊. Very appreciated.
Don’t chase a trade. Let it come to you.
Killer list.
When you mention the market is always changing. My question to you is, do you tune into financial news on the daily throughout the entire trading day? Just wondering if it’s helpful or if it adds noise.
I like trading SPY, but as we saw this week, the anticipation for NVDA really drove that ETF.
Thank you!!
Love this video. It's helping me already... Please add 3 more principles so we can call them "The Ten Commandments"
Nice looking shepherd. Great video
Thank You, I'm still Holding 😮
Patience
I have a small trade account, $250.
Yesterday I made $27 so I took my best friend to lunch. Today I made $35 so I'm happy. Because I do loose $3 on bad trades often.
Hi could you share what Futures brokers and prop firms are allowing Metatrader 5 platform?
Hi Peachy I'm interested in your course but I have question on time zones. I'm in Australia so for us its 1:30am when NY opens can suggest the best way to trade futures if this is the case. Thanks
I really enjoy your videos and all the knowledge you share. I had to stop following you on tic toc...too many impersonators. Keep the videos coming!
I would say not using anything under the five min chart. You have to know to know if that makes sense. 😢
Awesome channel, Britt quick question! How long did it take you to become consistently profitable? I've been learning to trade for 3 years now and I'm just starting to turn the corner now. Not consistently profitable yet, but feel it's coming soon. Love your material, and I'm thinking of joining you community. Thanks
When you're traveling and trading, which internet service provider are you using?
One: invest in a passive mutual index fund in developed world equity.
Lol. Scalping 5 to 10 hahah. I took 60 trades today but that is my plan and paid well
Peachy is one of the few good ones.
Thank you. Im at the 3 year mark. Its been hard. Im just getting to the point of NOT losing... much ... anymore . haha i respect my stoplosses .. but I do need discipline. I break my rules a lot. THat needs to stop
Made great pips on crude today almost too easy !!
...and oil breakout over 79.25...ripsky
Idk I've seen traders take one or 2 trades per day an be successful but Ive also seen traders that take 100 trades a day or more an be successful so there is no set amount. If you go to trades for a cause event you will meet a lot of traders that take a good amount of trades.
Where’s the quiz??
always use stop loss
Right now my closest ones make very hard to learn and trade and to have focused mind🥴... But it's changing 😎 If this won't change I'll move to a different state 🤪 ,Be safe out there!
I am so confused on stocks 😩. I feel so dumb lol. I opened a brokerage account a week or so ago and I only put in 500$ because idk what I’m doing and don’t want to lose all my money. I’m up 45$ 😂.
Peachy is the blonde version of Rosita from the from Walking Dead TV SHOW
I keep trading leverage and losing money! I think I’m in too long?!? It’ll go up but I wait then it goes down and I lose!!! Grrr
PAYience always pays
She seems smart
And, if u cannot remember the month and year u last took no trades, ur just trade chasin'
First❤
Learn to lead....Yep. I do not discuss my trades. Period. We can talk process. But I don't discuss trades.
😎
Are you seriously? Of course I like it automatically, I thought about this topic for 7 or 10 days.
Im in the Sosnoff school...as I would hope you are...especially derivatives...trade small trade often
Anybody have a recommendation for a broker with no pdt rule?
Uhg, I need to watch more of your videos... I learned an expensive lesson lol I bit the dust on HOLO friday. was up, Held too long, now WAAAY down. Now, I'm not sure what to do. HODL or eat the loss. It looks like i wont make anything back unless HOLO is halved again...But the issue is Prices are where i wont lose everything but if they keep falling I wilL. This was a total learning oops. I also forgot I actually tried to sell at a profit and I got locked out of my app due to day trader alert and could not process the transaction so I got stuck holding....