[To be a pro trader, you must think independently] One of the | The Real Rayner Teo

[To be a pro trader, you must think independently]

One of the reasons why most traders fail is because they ask questions like these…

• Is exponential or simple moving average better?
• Should I buy Tesla stock right now or wait for a pullback?
• What is the best RSI setting?

You’re probably wondering:

“What’s wrong with it?”

Well, it’s a sign you cannot think independently. It shows you want to be spoon-fed so you can skip the “work” and go straight to profits.

Unfortunately, it doesn’t work that way.

Why?

Because in trading, there’s no such thing as “best”.

What’s “best” for me might not be right for you because of our different goals, timeframe, personality, etc.

So…

If you want to succeed in trading (or in business), you must have the ability to think independently.

So instead of asking “what” or “when” questions, learn to ask…

Why.

This means you want to ask questions like:

• Why did he apply this trading strategy only to the stock markets and not FX?
• Why did he use a 200-day moving average as a trend filter?
• Why did he use a 40% trailing stop loss?

Do you see the difference?