Monday, February 23, 2009

Successful traders don't just buy a system and hope that it will work. They develop a system that reflects their own views of the market and risk tolerance, and extensively back test it themselves. This gives the winning trader a lot of confidence about the performance of the system under various market conditions.

 Winning traders have an an exciting opportunity to build substantial wealth. To be one, you need a systematic approach to trading, typically by developing your own system. There are no short cuts to success, so you will need to read widely and critically, and work on your trading psychology.