By Taro Hideyoshi
As you may have read, I wrote an article to give you the idea what the strategy traders are. I also wrote another one to let you know a few benefits of strategy trading over other methods of trading.
And here, in this article, we are still talking about strategy traders. Actually, it is the complete strategy traders.
So, who are the complete strategy traders and what are the differences between the regular strategy traders and the complete strategy traders?
The complete strategy traders are traders who have learned to use advanced cash management principles, trade in multiple markets, and may also trade multiple strategies in each market.
The successful traders realize that the most important keys to make money in long run is how they manage their money, not what method or indicator are used.
While most traders are trying to predict the market and looking for the Holy Grail method or indicator, the successful traders are not. They understand that strategy trading is not unlike most other businesses and, as a result, have turned their trading into a sophisticated business based on sound business principles.
In order to be a successful in trader, you have to treat your trading like doing a business. From my experiences, I have realized that many successful business do not possess the best products but they are still leader in their business. It is because they manage their business effectively.
For example in the restaurant business, it is not only the food that makes a successful restaurant. It needs more than good chef and good food such as costs and services. However, the key is to master in restaurant management. You can see it clearly in fast food business where selling bad food but still in business.
It is the same in trading. Traders have to understand trading management to be able to become successful. Trading management is nothing to do with indicators. Of course, you have to use solid indicators in order to enable you to make money. However, the trading management is another thing, it is how you manage your money, your cash flow, your risk also your trades. And you have to manage them effectively.
Successful traders are traders who understand that more than simply a great indicators or trading system is needed to be successful.
So, if you want to be one of a successful traders who trades strategy, you need to be a complete strategy trader.
Taro has strong will to share his experiences to others who are living in hard economic times like these days and trying to survive in financial markets. So, he has written and published articles on subjects such as personal finance, investment and money management.
His articles could be found at the websites – eFinanceZine.com & MetaStockTradingSystem.com.