Common traits of successful trading

10 key concepts you need to apply to your trading

Successful traders and trading system backtests have proven time and again that it is possible to time the markets and take advantage of favorable moves while avoiding damaging ones. Successful timing could be as simple as selling a stock that crosses under some key moving averages.

That is not to say that it’s easy. Or that one can consistently pick tops and bottoms. And no system or indicator has a 100% success rate.

However, trading success can be learned and replicated with discipline and hard work. Richard Dennis and Bill Eckhardt proved this with their Turtle Trader experiment in the early 1980s. Many others have done so since.

In almost every instance of successful trading I’ve read and learned about there are some common traits;

• risk management

• position sizing

• discipline

• mindset

to name a few.

Learn and apply these concepts properly and you may find that:

• It is possible to time the markets.

• You can get in sync with the waves and cycles.

• You don’t have to hold stocks that decline 20, 50, 75 percent, or more!

• You can put all your eggs in one basket if you guard that basket!

• Doing these things requires a trading mindset.

Richard Moglen at TraderLion explains very well.

Roy Mattox and Richard Moglen share 10 keys to Super-Performance

At the recent TraderLion conference Richard Moglen interviewed Roy Mattox, Chief Market Strategist and Portfolio Manager at Integrated Financial Strategies, LLC and 2021 US Investing Champion runner-up, who shared these 10 keys to achieving super performance. I’m not familiar with Mr. Mattox or his trading style. In fact, I’d never heard of him before reading Richard’s article today.

He and I share some beliefs though, as these concepts are critical components of my trading system. Today’s edition of Trading Engineered, a publication I recommend, lays them out very well.

10 Keys to Achieving Super-Performance with Roy Mattox

These concepts could be helpful for any trader, even those utilizing different styles or timeframes. Every trader or investor needs a process to identify attractive ideas and manage risk. So consider these points and the potential impact they could have on your results.

• Have you heard these ideas before? Are they familiar?

• Have you really considered how they could be applied to your trading?

• Are you applying some or all of them already?

I’d love to hear what you think. Please read for yourself, and for a better understanding of my trading style and mindset. And leave your thoughts in the comments.

And if this is your first time reading Trading Engineered take a minute to look around. Richard continues to pump out tons of high-quality interviews and lessons from top traders.