Consistently Trade - Day After DayBe a Bricklayer - Make the same trades over and over again. A bricklayer comes to work every day of his working life and always performs his work according to the same strategy. Brick by brick, by brick.
This consistency is just as true for traders. If you want to trade successfully, you have to trade like a bricklayer lays his bricks.
Brick, by brick, by brick....
Overanalyze
No over-analysis, no hesitation! Often traders are frustrated because you correctly predicted the market direction but did not open a position. When you ask traders why you didn't position yourself, you almost always get the same answers:
You didn't want to chase the market You were waiting for the absolute best entry, but of course didn't get picked up. Or only 2 of the 3 indicators you used generated a buy or sell signal and you were still waiting for the third indicator to generate a signal as well.
But the result of this over-accuracy and hesitation is always the same. The trader correctly predicted the development of the market, but did not make a profit from it. In trading, unfortunately, you don't get paid if you can correctly determine the price direction, but only if you open a position.
Do not overanalyze your trades. Position yourself and stick to your rules. If you are wrong, close the trade immediately. But if you don't open a trade, you can never be right.
All traders are equal
The market treats all traders the same. All traders start every day at zero. When the bell rings and the trading day begins, only our behavior determines whether we end the trading day as winners or losers. If you consistently follow the 25 rules described here, you should make it. If you do not consistently follow all 25 rules, in all likelihood you will lose.
Market Fairness
The market itself is absolutely fair. The market always develops in the direction it wants to develop. It doesn't care about you or about us, it doesn't have favorites, it doesn't discriminate against anyone, and it doesn't intentionally harm anyone.
The market is basically always right.
Exceptions to this are Forex brokers who provide their clients with incorrect rates for trading, thus making profitable trading difficult or even impossible. Therefore, inform yourself in advance of opening an account exactly about your favorite broker to make sure that you are only trading against the market and not additionally against their Forex or CFD broker. You can find suitable CFD brokers with mt5.
If you do not respect this and do not play by the rules, the market will inevitably punish you. Learn to trade according to the 25 rules and the market will reward you.