Trading is hard work. It involves elaborate planning and precise execution. It requires deep insight into the various factors of trading-knowledge of the markets, the quantifiable variables involved, the tools and systems required to identify and execute a trade and the ability to amalgamate these into the trade with split second timing and precision.
A professional trader knows exactly what he wants and how to get it.
Whereas all the above comes with time and experience, it would be impossible to achieve the same without a blue print or a layout.
The professional trader first filters the markets to eliminate noise and brings up the most probable winners. He surfs through charts and figures with an expertise only achieved through practice and repeated endeavours. Once his target instruments are identified he studies them in great depth before choosing the best from amongst them.
Once done, the next endeavour is to find the best possible price to enter the same. He identifies his entry points, his target points and his exit points should the trade go against him. He decides where and how he will enter the trade and how he will go about locking his profits. He makes an attempt to identify re-entry points should the trade move beyond his target price or throw him out before resuming the trend.
Once he has his plan ready he makes sure he has sufficient funds in his account to execute the trades. He makes sure that he has a backup internet plan should his internet fail. He makes sure that there are at least two other backups in place to execute his trade should he encounter any unforeseen problems with his system.
With his plan in place and the means to execute available, he awaits the trading day with ease and a certain degree of excitement.
He arrives at his workplace and checks for any current news that would be instrumental to his plan of action and then waits calmly for the markets to open.
He executes his trades as per plan and does not allow his emotions or his surroundings to affect his decision. Like a programmed robot, he executes his trade, books profits or absorbs loss. He enters the details of his trade in a log chart and ends his trading session. He then moves on to prepare for the next trading session.
With this discipline he goes about executing trade after trade, month after month.
Such is the life of a successful professional trader.