Dapo willis

partial profit at 100% retracement level even if our overall 
targets have not been met. 

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The Millionaire Trader's Handbook 
Page 18 
Now we know the following: 

Lock in as many profits as possible, either partially or 
at the 100% retracement level 

Alternatively, close 0.05 lots from 0.10 lots, move the 
stop loss to breakeven, and are risk-free 
At any point in time, even if the market reverses against you 
at 0.05 lots, you still have some profits. These are lessons 
learned from the whole story, and only the market can teach 
you this, not your mentors in most cases. 
So you should treat them as a lesson rather than just a loss.
Unlike gambling, which is based on your instincts with no 
backed-up data, trading involves analyzing the market and 
learning from past experiences to improve your 
performance. 

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The Millionaire Trader's Handbook 
Page 19 
Trading VS Gambling Difference: 
Decision Making 
In any financial instrument, be it stocks or crypto, trading 
positions are always opened based on certain criteria and 
decision factors depending on the trader's objectives and 
trading style. We all have different approaches to how we 
analyze and comprehend charts.
For example, I only open trade positions if the following 
conditions are met: 

The market's overall direction is trending based on 
the higher timeframes (bullish or bearish) 

The price retests a certain level from the point of my 
entry 

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The Millionaire Trader's Handbook 
Page 20 

I see a candle close below or above my counter trend 
line 

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The Millionaire Trader's Handbook 
Page 21 

The price breaks the neckline of a chart pattern or 
formation. 
These criteria are specific to my trading style and objectives, 
other traders may have different criteria. Traders need to 
have a clear and defined set of criteria for opening positions 
to minimize risks and increase their chances of success in the 
Forex markets. 
With these conditions, I know when to enter a trade and 
when to stay out of the markets if these conditions are not 
met.
Therefore, my trading decisions are based on specific 
criteria. However, in gambling, positions are only staked 

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The Millionaire Trader's Handbook 
Page 22 
based on the hope of gain, which is commonly referred to as 
luck. 
I believe I have explained the key difference between a 
gambler and a profitable trader. Let's recall the four pillars of 
successful trading:

Technical analysis 

Risk management 

Trader psychology

Market psychology 
Now that you understand the differences between trading 
and gambling, if you want to achieve the dream of becoming 
a multi-millionaire trader, focus on these 4 Cs.