LEARN the legendary traders!

What separates the best traders of the world from the average investor?

Can the average investor to examine the success stories of the legendary traders and they use the system?

What is common in the actions of the most famous traders, than can take an average talented trader?

Before you will find answers to these questions, let's look at some of the most successful of the legendary traders:

- Nicolas Darvas turned 36.000 $ 2.000.000 $ in 18 months!

- Ed Seikota of $ 5.000 received $ 15.000.000 12 years!

- Jesse Livermore made a multimillion state in early 1900

- Richard Dennis made from 100 up to $ 200 million

- George Soros, is believed to be one of the greatest traders of all time!

The results are quite impressive and this list would be easy to add some other prominent traders. So why do they have such brilliant results?

There are several common factors that are observed in the majority of successful traders:

- They have a system, which they strictly follow.

- Most of them has a trading style of following the trend.

- Most of them have medium-and long-term approach.

- They are neither fear nor greed.

- They have absolute discipline and a 100% follow their system.

- Their Trade is fully laid out, they were prepared for all scenarios in advance.

- They know that the system goes through bad times and good times. They cut losses as soon as possible and give the profits to grow.

- Their system suits their individuality.

Some of these points sound logical and, most likely, many of them agree. But in reality the average investor behaves differently. Some of them have "burned their fingers" over the past three years, and some even lost the state. Here are some examples of observed behaviors:

- On time is not reduced by losses.

- Short-term investments perederzhivayutsya in the hope of lifting prices.

- People are listening to advice from their investment brokers and analysts.

- People invest in hot stocks recommended by friends of friends.

- People do not have any plan about their investments.

- Capital management in any way is not considered.

- People use trading styles that do not match their personality.

- They are filled with greed and fear.

What can the average investor learn from a talented above and how to avoid these mistakes? Here are some useful points that can be gleaned from some of the most successful traders:

- Every investor has his own personality. Some investors have a very aggressive trading style and trade very often. Some prefer the action, because other bear more risk and investing in options. Others want to spend a minimum of effort.

Investors must understand their profile and choose the style that fits his personality.

- Trade should be fully planned in advance. People planning to many of their actions, such as leave travel, relocation, etc. But whether they have a plan when investing?

The investor must have a system that will help him be prepared for all scenarios of trade. You need to know in advance when to buy, how much to buy, when to exit. As is trading, the price of the instrument (share, option, currency, etc.) can not be influenced by normal private investor.

- The most important component of the trading system is money management? Surprised? Many investors and traders spend most of their time developing a very complex system of entry into the trade. But the entry strategy contributes only about 15% in the success of trading system based on academic studies.

The most important issue trading system - is how much to invest and how many positions to keep any one time.

- For a successful trade is the ratio "can do." 99% of the world's population is likely to have a dream to be financially independent, but only 5% achieved this. Why? Because with phrases like "... it would be cool, but I can not ..." or "... perhaps one day I win the lottery, but so far I have to work hard ..." they have already lost.

Tom Meier