The 4 Ds You Need to Achieve Trading Success?


I was just chatting to an old trader buddy not too long ago and we were discussing about trading – especially on what the industry has to offer these days. We both chatted for awhile and, amongst many things, we came to a unanimous conclusion that there is too much noise in the trading industry.

By that, I’m not referring to the market volatility but, we believe, there are now many learning material including books, trading schools, forums and even free newsletters. Nonetheless, we also agreed that many of them don’t talk about resources that we have within ourselves that makes us successful – in other words, internal resources or resources that are within easy reach.

With that, today’s article is about learning the key elements that are important when learning to become a successful trader. Also, to help you remember this, you just need to remember the 4 Ds. Some would call the Ds a tool for learning to learn, while others call it ingredients for success. Either way, let us explore these here now.

1. Dream

This is probably the most basic criteria but this is also the one that most traders get confused with. Let me explain my point.

All traders should have a dream – a dream to be a successful trader. They need to dream about their trading goals As If they are already successful. They need to see that they are benefiting from the financial wealth that is the fruits of their labour so that they can have a vivid idea of where they are heading to.

However, alongside that, traders also need to experience what they see, hear or feel in that dream. Unfortunately, traders only dream about the money and, hence, when they trade in the market today, all they want is financial goals a.k.a. they only want money (in case you haven’t realise, you need to go beyond money to become successful).

Most traders, they only see a picture or hear sounds of money and excitement when they dream. They forget that becoming a successful trader, it is important to have a sense of calmness or relaxation within them as well.  This is important because trading is about knowing and trusting your trading system before you can see the financial returns – it is about being emotionless then they trade the market.

Hence, make sure to dream and make sure to dream the right thing.

2. Drive

Drive, determination and motivation (or what ever the term may be) is another important element when becoming a successful trader. I have mentioned this again and again but I cannot stop reminding traders that this is the most important element not only when you’re doing well. However, you need the drive, determination and motivation the most to bring yourself back up from the ground each time you fall. You’ll need it to bring yourself back from the negative to the positive again.

For many new traders, this is what differentiates those who become successfully (eventually) from those who give up half way through the run. Because having the right attitude will carry you a million mile further than having only the right technical know-how.

But here’s the catch – if you have a powerful and vivid dream of what you want, coupled with the right emotions, the drive inside you will just emerged easily and effortlessly. That’s right, dreams, if set up carefully and correctly can become very powerful motivators for trading as well as for life in general.

3. Data

By Data, I mean Resources that can help you improve. This is important because data are sources of facts that you will help you identify what you will overlook be it in the areas of technical analysis or trading psychology. So here are a few examples of what data can represent:

  • dataTrading Journal – A detailed record of your trading history is pretty important. When analysing your trade journal, you really want to use it to identify the gap between where you are now and where you want to be in your dream. Once you know the areas for improvement, you can then proceed to make changes. More importantly, these improvements are based on facts and not just assumptions.
  • Learning and Lessons – Go learn as much as you can before you start trading the market. While it is important to trade the market and to make mistakes, you want to be able to read and learn as much as possible in the areas of technical analysis and/or fundamental analysis.

However, do not complicate your learning journey by jumping from one market to another. For example, if you are a currency trader, don’t try to learn the stock market at the same time. Or if you are a swing trader, don’t try to swing a position and scalp at the same time. Stay focus but learn as much as you possibly can within that boundary.

  • Exchange Notes – Now that you’ve learnt a lot from your past trades as well as from learning materials, you can still accelerate your learning by exchanging notes with a trading buddy or trading group that takes similar set ups or patterns. You want to be able to take what you’ve learnt and share it with someone else while you learn something new from them.

4. Detachment

Having the ability to detach from one self is another important and useful element to have. More often than not, as traders, you need to detach yourself from your trading emotions. On other days, you need to detach yourself from the need to win all the time because when you’re feeling strong urge to win, that’s when you become irrational in your trading. Alternatively, you need to detach yourself from your system and see what the market is doing.

Unfortunately, there is no real formula for getting detached. In fact, whichever way that works for you is the correct one. While some may find it easier to do it than others, remember that you have all the above Ds to support you in this area.  Keep doing it and you will definitely become a great trader.


As you may be aware by now, the 4 Ds have been placed in that order of sequence so that one D will support the next. Once you have the right sequence and you apply all of the Ds in your trading routine, you will definitely be en route to becoming a successful trader.

Thank you for reading and please leave any feedback or questions that you may have.




Leave A Response