In my previous articles we have covered the importance of accountability, which means having the right attitude toward your trading even before you open the computer or a book. We will move on to more articles related to psychology and trading itself. We also need to address building a strong base for a framework to actually trade; once you have your base you can refine, adjust, and tinker around the edges to super-size your success, but a robust base is an absolute must.

This article has two parts. The first is the search for knowledge and how to look to build your strategy. The second is the simplicity you will need within your strategy to be successful.

In trading you will always be learning, but this is about research to build from. The research process cannot be rushed, it will take considered thought and an attitude as if you are studying for an exam. Trading is a strange world; when starting off or looking for a strong base, you need to navigate the noise of people selling courses, indicators and sometimes selling unobtainable dreams. You have to treat the research just as you would if you wanted to become a professional in any other industry. If someone told you you could become a successful doctor in one year, you would likely not believe them (and would definitely not let that doctor treat you), so why in trading? I am not saying you need six years’ preparation to be successful, but you do need the attitude of steady progression and having to build up your knowledge and experience over a reasonable amount of time. Trading will not bring you wealth instantly.

As with most points with trading, you have to start with yourself. As I’ve said before, you need to trade what reflects your personality. Pick a strategy that suits the time of day that suits your lifestyle and when you have time to concentrate on with genuine focus. Getting this right with dedication and concentration that suit you will guide you to a basic strategy, and from this point you can develop to build success.