Karel Ruzicka @RoseThorn__Trade: "💰 𝐃𝐈𝐅𝐅𝐄𝐑𝐄𝐍𝐂𝐄 𝐁𝐄𝐓𝐖𝐄𝐄𝐍 𝐏𝐑𝐎𝐅𝐈𝐓𝐀𝐁𝐋𝐄 𝐀𝐍𝐃..."

Czech Republic

💰 𝐃𝐈𝐅𝐅𝐄𝐑𝐄𝐍𝐂𝐄 𝐁𝐄𝐓𝐖𝐄𝐄𝐍 𝐏𝐑𝐎𝐅𝐈𝐓𝐀𝐁𝐋𝐄 𝐀𝐍𝐃 𝐋𝐎𝐒𝐈𝐍𝐆 𝐓𝐑𝐀𝐃𝐄𝐑 👎 In the world of sports, it is said that effort is a nice thing, but the game is mainly played for goals (i.e. for the result). In the world of trading, this wisdom applies twice. If you want to be successful and profitable traders, you need to adopt the characteristics that these people have in common from the start. Making and collecting profits is the principle reason for our interest in trading and it is therefore understandable that everyone measures up to this point. Clearly no one starts trading financial markets to make a loss. That would be a very interesting tax and cost optimization. In order to collect profits, we must first become part of the profitable traders. And if we become them, we must be able to want, what qualities and characteristics do we want these people and then adopt those qualities as our own. It's no coincidence that winners always have something in common, and it's the same in trading - profitable traders approach trading in practically the same way. 💡𝐏𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐥𝐞 𝐭𝐫𝐚𝐝𝐞𝐫 𝐢𝐬 𝐫𝐞𝐚𝐥𝐢𝐬𝐭 It is said that one tends to be overly optimistic about one's future performance. Large number of beginning traders already put on rose-colored glasses during the backtest and demo trading and, when they fail, get drunk with speeches like "well, I certainly wouldn't take this trade in real life" or "I'm entering so recklessly only because I'm trading on a demo". A good profitable trader, on the other hand, is mostly a REALIST. He can set a good realistic plan and his expectations are more skeptical than optimistic. If he has a result in a backtest or on a demo, he sets his real result on a live trading account lower and thus expects a worse success rate than what he achieved in paper trading. In no way do I mean to say that such a person is a negativist. On the contrary, if I have a good realistic plan, I can be positive about the future result and the course of trading, because I know that I have neither underestimated nor overestimated anything. 📋𝐏𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐥𝐞 𝐭𝐫𝐚𝐝𝐞𝐫 𝐡𝐚𝐬 𝐩𝐥𝐚𝐧 In almost every human activity, it is much more advantageous if we are well prepared or have a solution and a prepared procedure for the expected developments of such an activity. In trading, this approach saves the profitable trader a huge amount of money because having a plan means BEING PREPARED. A good financial market trader has a backtest plan, a demotrading plan and a real money trading plan. All of these plans are realistic and have achievable goals. If I am at the very beginning, I should primarily deal with the backtest and set a good and realistic plan for that = adopting a specific strategy and achieving a certain percentage of success. The realism of such a plan is hidden in the duration of my backtest, in the rigor and honesty with which I approach the backtest. I don't try to find shortcuts to quickly end the backtest and switch to demo trading or real trading, on the contrary, I reserve enough time to familiarize myself with the specific market, master the given strategy and build a feeling. Plan and realism contrast here with spontaneity and optimism. In my eyes, long-term consistent profitability cannot be achieved by trading spontaneously, without having an overview of my goals and expectations, without having a plan. 🚫 𝐏𝐫𝐨𝐟𝐢𝐭𝐚𝐛𝐥𝐞 𝐭𝐫𝐚𝐝𝐞𝐫 𝐢𝐬 𝐧𝐨𝐭 𝐩𝐮𝐬𝐡𝐲 A misdirected over-achievement is as great a hindrance as a lack of effort and diligence. A good profitable trader looks at their results in the long term and knows that things cannot be extremely rushed. Yes, I can backtest multiple hours a day and give the markets maximum time and effort, but once I get to the real market with real money, there is no lever to accelerate our path to profitable trading. The key to success and consistent profitability is only persistence, discipline and belief in the correctness of our actions. If I did not underestimate the backtest, I did not underestimate the demo trading, I achieved the expected results, I was honest and fair with myself, I did not embellish anything but looked at it as it is, I can and should believe that if I do the same on real market with real money, I must naturally achieve success. Financial markets will always go back and forth bouncing off important S/R levels and if one day they stop, trading will be the last thing we worry about because it will end the world as we know it. A professional profitable trader knows this and does not “press the saw”, he lets things take their natural course, because the foundation he has built for his trading is solid and solid, and it is this foundation that determines whether he will be profitable or not. $NSDQ100 $SPX500 $OIL $GOLD $GER40

Not investment advice. The author may have financial interests in the mentioned instruments.