At one point I considered myself the luckiest person in the trading world because I was surrounded by trading experts, and had instant access to almost anyone. I lost that title after I met Tim Bourquin, Co-Founder of TraderInterviews.com. See Tim has the platform to basically ask ANY question he wants to ANY trader he wants...and he records it for his future use. Thankfully he opened his records for people like you and I to learn from and in this article he teaches us 5 things that he's learned from the hundreds of experts he's interviewed. Enjoy the article, comment below, and take time to visit TraderInterviews.com.
Over the past year I’ve spoken to hundreds of traders, many of which were recorded and posted at TraderInterviews.com. If you had asked me a few years ago how the best traders approached the markets, I would have said that they all had similar strategies. But after talking with traders of every market imaginable, I’ve found they all have very different methods.
However, while they each may use wildly different techniques (I spoke with one very wealthy trader who confirmed his chart patterns by looking at planetary movement and moon phases), all of them follow five rules without exception. Some of them make hundreds of thousands – even millions – of dollars each trading their own account. These aren’t your typical “always use a hard stop loss” type of rules . These are actual guidelines successful traders follow religiously.
In fact, I’d bet that deep down you know you should be following these rules as well but you aren’t – yet. Today is the day you can commit to doing what works for other wealthy traders and get on that same path.
Let’s get started.