Grow your business, income, & life.

Behind-the-scenes training to grow your business and generating income. Strategies and mindsets that work.

What Makes a Great Trader: 3 Parts + The Inner Game and Outer Game

Hey it’s Sasha Evdakov founder of Rise2Learn and in this video I had a question about What Makes a Great Trade?

Well, I think there are two main parts behind being a great trader. The first one is you have to master the inner game and the other one is master the outer game. When you master both these pieces and they come together you actually have that success.

Until you master that inner a game and the outer game you won’t be a great trader because you don’t have both pieces of the training puzzle figured out. Now if look at the outer game and actually watch what’s going on and what makes a great trader I think it comes down to three main part and those three main part is, Entry, Management, and Exit.

The first part is entry and your appropriate timing on your entry is very important to your success if you’re trading directionally for example meaning you’re trading stocks long or your trading short to the downside, you need to have good timing.

If the stock is heading lower you don’t want to catch it on the decline because that’s like catching a falling knife you don’t want to do that, if you’re trading options for option income monthly strategies then of course you still need impeccable entries you need to have great timing on your entry.

For example you don’t want to enter an iron condor with just one day to go until expiration typically not the way things work so again entry is very critical to your success.

The second part is management this could mean risk management, money management and it can mean trade management. It’s the management section behind your trading or your portfolio so you need to have very good management skills to be successful and that’s what makes you great.

Now if you don’t have great money management skills in your personal life, if you don’t have great money management skills in your checking account or your bank account and what is it to say that you’ll have great money management, risk management, trade management when it comes to trading.

You need to have impeccable management skills when you’re trading you need to think of it in terms of chess. Think of it in terms of 10 moves ahead what am I going to do if the stock does this I am I going to do when a stock does that.

Are you going to take some shares off, are you going to buy some more into strength, are you going to take half off a quarter. What are you going to do you need to be making these decisions so for that reason it’s all on you and your decisions in your trade risk.

Of course doing newsletters and people that tell you trade alerts and what’s happening that’s all fine and dandy but unfortunately the problem with that is that they’re not going to be managing your money for you and at some points under those people they actually want you to manage their money in their account for them you know they don’t want to do the work and homework.

You need to manage your money, manage account, manager your risk and that’s another key point.

The third and final piece that makes a great trader is the Exit Strategy or exiting the trade. You need to exit a trade in order to capitalize from it whether that’s doing options spread, whether that’s trading stocks you need it exit the trade.

If you don’t exit the trade and you hold the stock for 30-50 years you never made a trade you made half of a trade, you need to get out of the trade in order to close out the position and collect your money and from there it can go into your bank account so you need to exit the trade whether that’s your exiting quarters, whether you’re exiting in halves you need to make exit of some sort.

Now exiting can also mean taking a loss or a hit by having a good exit you know got a small loss having a bad exit that could mean taking a big loss. Again all predefined in your trading plan and your trading strategies however exit is the third part behind what makes a great trader.

Now remember it really does take the inner game and the outer game working together to be able to be very successful at trading. You can’t just have that outer game which we just discussed about the entry the management and the exiting part you need to have the inner game and when they work together that’s when everything just flows.

Thanks for watching and I look forward to seeing you next time and remember to do what you love, contribute to others, and most importantly live abundantly.

Join other stock who get a trading edge each week with our newsletter

Get our free stock market tip, video reviews, and exclusive announcements.

No spam, no gimmicks, no junk - Unsubscribe anytime

I'M SASHA.

Thanks for joining me on my trading website where I share with you about trading stocks and options.

DOWNLOAD 100 Stock trading tips Book

Ready to check out some of our best-selling books that can help you become a better and more profitable trader? Check them out by clicking the link below… 

Video recaps on the recent market trends

Summary of recent market activity looking at swing chart opportunities, potential setups, and technicals.

Stock market picture charts annotated

Quickly review screen captured stock charts with annotations. Includes support, resistance, ABCD patterns, and possible breakouts.

want some helpful advice?

Pay-Per-Minute Coaching

I am scheduling helpful coaching sessions for people who are interested in real-world advice & guidance where you only pay per session. No long term commitment required.

This website and content is for information purposes only as Rise2Learn, TradersFly, and Sasha Evdakov are NOT registered as a securities broker-dealer nor an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Rise2Learn, TradersFly, and Sasha Evdakov cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Rise2Learn, TradersFly, and Sasha Evdakov in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Rise2Learn, TradersFly, and Sasha Evdakov accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Ready to Learn Profitable Strategies to Trading Stocks?

If you are serious to learn how to trade stocks more profitably, make more money, and trade with confidence...

 

Then sign up to get our free educational videos!

AWESOME!

In order for you to get your goodies and freebies you have to confirm your email address.

 

To confirm your email address, just go to your email inbox (or check your spam) and click the link that's inside the email that states you want to receive messages from us.

 

That's its!

Just one more thing... 

Ready to Get Our Educational Videos Each Week?

If you are serious to learn how to trade stocks more profitably, make more money, and trade with confidence...

 

Then sign up to get our free educational videos!

5853

AWESOME!

In order for you to get your goodies and freebies you have to confirm your email address.

 

To confirm your email address, just go to your email inbox (or check your spam) and click the link that's inside the email that states you want to receive messages from us.

 

That's its!

Just one more thing...