Over the past 6 years I have worked with thousands of traders and they all want to know what the "Big Secret" to making money is.

The first and perhaps most important “secret” is to realize that your methodology or approach (no matter how good) is only part of being a highly successful trader. This applies to any trading style including, swing trading, day trading or position trading.

The simple fact is that a bad trader can screw up a fantastic trading system and a talented trader can take a mediocre strategy and make money with it.

Many traders think that to be a “Super-Trader”  they must possess all of the following:

• A  highly advanced trading system
• Ultra sophisticated software
• Nerves of steel
• A highly developed intuitive feel for the markets
• Have some “inside information”

You will be relieved to know that the above is not necessary. There are actually only a handful of things that separate traders who consistently make money and those who don’t.

And here they are…

1. Successful traders find a strategy or market pattern that offers a high probability for success. They make money by exploiting this edge over and over again.

2. Successful traders never deviate from their methodology or “wing it”.

3. Successful traders never enter a trade without a entry and exit strategy. They know exactly when and where to cut their losses as well as taking profits.

4. Successful traders never ever let a winning trade turn into a losing one.

5. Successful traders never hope, pray or wish that their position will go up. They understand that when they are wrong they are wrong and the best thing to do is cut their losses short.

6. Successful traders never trade with their emotions.

7. Successful traders always have one goal in mind: To preserve their capital at all costs. They do this by never taking on too large of a position. A good rule of thumb to adhere to is never use more than 5% of your funds on any one trade. This way in the worst-case scenario the stock could drop to zero and your account would not be severely affected.

8. Successful traders never get too greedy. There is an old saying that “Pigs gets fed and hogs get slaughtered”. These traders don’t try to make one big trade that will turn them into instant millionaires. They don’t try to hit home runs, instead they understand that it is better to keep hitting singles and making smaller consistent profits.

10. Successful traders enter and exit trades swiftly and decisively.

11. Successful traders listen to no one else’s opinion concerning the market or particular trade they are in.  They don’t allow themselves to get caught up in the latest and greatest investment hype.

12. Successful traders are often contrarians. They will be buying when others are too scared to and sell when the crowd starts buying.

That’s it, the secrets to making big money in the markets. Perhaps that is a bit of a let down as you were hoping for something a bit more esoteric and complicated.

Let me assure you that if you follow the above principles that you will take your trading skills and profits to a level that you never thought possible.

Over the months to come I will write new articles that will help you master all of the above.

Peace & Prosperity!