THE FOUNDATION
Fundamentally, to trade successfully you need at least a repeatable system. If you don't have that, you are just gambling wrapped up in fancy finance wrappers with nicely coloured charts.
Don't let TikTok convince you it is easy. 99% of traders lose money. Fundamentally, if people are making money in the market, you are literally taking it from someone else. Respect the market and take it seriously.
Trading more does not equal more profit. Taking 1–5 trades a month that are all profitable is by far the best approach. Wait for the best setups. Most traders lose money because they overtrade—they force entries out of boredom or FOMO. The best traders are patient. They sit on their hands until the setup is perfect, then strike with conviction.
STAY AWAY FROM PROP FIRMS
Controversially, I am going to say stay away from prop firms.
These businesses rely on traders paying for challenges as their revenue—not from their own trading. What does this mean? They want you to fail.
They will have difficult restrictions that are in their favour to make you fail. Unless you are a top-tier trader and their restrictions perfectly suit your trading style, then go for it. But for most people, prop firms rely on people failing and are designed for you to fail.
USE YOUR OWN CAPITAL
The best way to trade is to use your own money and not care too much about what happens.
THE RIGHT MINDSET
This means you need to be financially secure enough or have steady income so you can use separate funds to trade and add to positions.
If you are losing your mind after placing a trade, this business may not be for you—and that's okay. I have seen many people lose their minds over €10 swings.
If you are going to be any way proficient at this, you need to be at ease seeing your old monthly salary fluctuate on your screen. If that thought terrifies you, reconsider your position sizes or whether active trading is right for you.
If you are still convinced to use leverage, it isn't hard—especially with futures and forex you get nearly the same effect as a prop firm without the rigged rules.
FIRST STEPS
Use a Demo Account First
If you are day trading, use a demo account first. Trading education is expensive, and losses in the market also count as tuition. You may be able to save a lot of money at the start by not jumping straight into live trading.
Get Professional Help
If you are serious, do get some professional help from someone with audited returns (like World Cup Trading Championships) and choose a style that suits you.
To be honest, at Vector Ridge we give you the signals where you can set them in the morning and not touch them again. You don't need to spend all day glued to screens or go through the whole learning process that may not even work. We offer you a proven way, and we have guarantees that you make a profit—so you might as well use it.
Trailing stops sound good in theory but they kill trades in practice. They pull you out at a halfway point that isn't profitable—you get stopped on a normal pullback and then watch the trade go exactly where you expected. Commit to a trade or don't do the trade. Set a hard stop if you need one, know your exit before you enter, and let the trade work. A trailing stop is a compromise, and compromises in trading cost money.
KEY TAKEAWAYS
- You need a repeatable system — without one, you're gambling
- 99% of traders lose — respect the market
- Avoid prop firms — they're designed for you to fail
- Use your own capital — trade with money you can afford to lose
- Start with a demo — losses are tuition, make them virtual first
- Get help from proven traders — look for audited returns