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Trading and Investment Success

Super Profit Scalper  The list below highlights the five most important points or stages that every successful trader or investor needs to go through. I came up with this list after several years of failure and varying degrees of success in the markets. The list is also, in a way, a distillation of the numerous discussions and conversations I have had with fellow traders and market practitioners over the years.
What makes this list unique (if even I say so myself!), is the fact that the principles or steps outlined below, are "market agnostic" - in that the same steps are necessary, regardless of whether one wishes to specialize in equities (stocks/shares), Forex (currencies), fixed income (bonds), commodities etc.
For people new to the financial markets, they invariably need to start at point 1 (or stage1). However, it never seems to surprise me the number of people who I have come across, who have been "trading" for years, yet have no consistent or methodological approach to the business of trading. Hopefully, the list presented below, will help crystallize the salient points required to trade or invest successfully in one's chosen market.
Make sure you know what you are doing, BEFORE entering the markets. Start from the very fundamentals.

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Ask yourself questions like: Why does this particular market exist exist?, what is its purpose?, who are the key market participants in this market? etc. By asking yourself these basic questions (and answering them), you will gain a deep understanding of why markets behave the way they do. A comprehensive grasp/understanding of this basic knowledge is required before moving to the next stage.