Want to Be a Kick Ass Trader?

by Kim Krompass, Price Action Traders Institute

Many of the retail level, at home forex traders I have met along the way are sadly enough caught up in the struggle to make consistent money.

Traders attend over hyped, sales pitch trading webinars almost daily.

In fact, I know one forex trading marketer who has promoted over 20 forex trading systems/ traders or methods in less than 5 years with each successive one being the one that is it!

Hyping traders is big business.

There are trading system riches, indicators where you don’t have to think to make money, or heck, there are even special trading programs where you don’t have to do a thing and you will be rich!

Just give us your money.

All of this points to one big fat pink elephant in the room that no one seems to want to talk about.

Slick marketers know how to market to traders who have demonstrated a desperation and willingness to temporarily lose their minds and open their wallets at the tiniest thought of making millions from trading.

And yet, across the globe, traders are still losing money trading, and along with that, damaging themselves psychologically and maybe even damaging their personal relationships.

From the depth of my personal experiences as a retail trader for the past 13 years, losing money is something that has been especially poignant in my own life.

Because of these emotionally and financially life changing experiences, I have learned, the hard way, what it really takes to be a kick ass trader.

Here are just a few principles I use in my own life to stay consistently successful as a trader.

Principle 1: Manage Yourself, or Someone Else Will

Managing yourself by understanding your emotions and feelings when you trade will be an important key to your success. If you don’t know “why” you do what you do when you trade, you are vulnerable to the next sales hype that comes along.

You will want to get out of the emotional pain you are currently in from the losses you are suffering as a trader.

As a result, the balance of power swings away from yourself and you will be prey for the next class promoter, guru or indicator that promises you riches.

Principle 2: Your Success is Determined Over A Series of Trades

Successful traders understand that long term success depends on buying into the belief that winning happens over a series of trades, not just 1 trade.

It is your belief system you are after here. Not just paying lip service to the idea.

How can you tell if you truly believe something?

Very simply, look at your behavior. If you find yourself taking trades because of your anxiety about FOMO (Fear of Missing Out) or you heard someone in a skype chat or a trade room take a trade and you “react”, you most likely do not believe in Principle #2

Principle #3: Tell me Who You Associate With and I Will Tell You How Successful You Are as a Trader

I see it all the time. The traders you decide to associate with will greatly influence the decisions you make, your intentions and ultimately your success.

The traders who are selective and protective of who they listen to and hang out with online are ultimately the one’s who will succeed.

If you find yourself jumping around in different trade rooms, listening to multiple opinions about the market, running into the same struggling traders online, and listening to the same old marketing line that “this course is “THE ONE”, then it is likely you will not succeed.

The traders who break free from this cycle are the winners.

Find ways to refresh and strengthen who you listen to and associate with.

Be critical about allowing the traders who consistently struggle, or have the best sounding excuses and the ones who jump for the next get rich quick trading course hype into your world.

You cannot afford to listen to other traders who constantly create disruption in your focus as a trader.

These success principles have come from my own trading experiences.

The struggles I have endured and how I overcame them make me who I am today.

A happy, successful and more balanced trader. A kick ass trader!

Want to find out more about me, please visit me at www.priceactiontradersinstitute.com