Trading Strategy Should be Simple.
What I realize from my experience that trading strategy should be simple and easy to understand.
When I started my career in trading I also used many complicated trading strategies using hundreds of indicators.
When I was new in Trading I thought that complicated strategies which are not easy to understand might generate good results in trading , I tried many complicated strategies but I was not getting expected results.
Finally my search stopped when I learned Price Action strategy. Price Action is the easiest and natural way of trading which works wonderful.
Important is that with the help of price action method you are able to understand the mechanism of markets , when to enter and when to exit.
I define Successful professional trader is one who can explain the clear logic and the reason behind every trades which he trades.
Finally trading is not a complicated process , It is a simple and easy understandable process.
Always Be Confident and Motivated.
Trading is a business of fully psychology and emotions. Traders are always trapped in trading psychology and emotions which might be a big reason of failure in trading.
There will be No Fear , No Emotions , No Stress only If you strictly follow money management or risk management.
You have to be self confident and self motivated in trading business. If few of the stop loss got triggered then not to worry or demoralized because you are following risk management system.
Read some successful stories or books or read some quotes of a successful traders to motivate yourself. Meditation is again the best way to get confident and motivated.
Stay away from the contacts of unsuccessful traders or failure traders. Just focus on your trading plan and be confident and self motivated.
Set your Specific Trading Method and Just Follow It.
Everybody has a different kind of observations about the market. Every trader has their own thoughts about the markets.
First thing is that just observe the market and understand the markets properly and set your trading method or strategy accordingly. Just follow your trading method and set the rules to it.
You have to follow your trading method in a discipline. Just give a shape to your trading strategy when to trade and when to stay away from markets.
Be Fully organized in Trading .
Most of the beginner traders just try their luck in trading. Some times they get few temporary success , but just trying their luck won’t get success in a long run.
You should be fully organized in trading business. You should master any Strategy that works in a long run. You should have your past trading records and trading journal.
You should be fully planned before trading. You should follow the trading rules and discipline along with the trading psychology and risk management.
You must have a clear goal and mindset in trading along with the trading plan. Overall you should be fully organized in trading with a clear goal.
Simplify Your Thoughts About Trading.
I experienced in my trading career that many traders expect unrealistic expectations from the markets and they just gamble in the market.
Also many peoples are instantly attracted to this profession because they think that they will make huge money in a short duration.
whatever the business might be same dedication and same rules are required to achieve success in all kind of businesses.
Some traders risk too much in their trade because they think that they would earn more money if they take more risk. This traders make trading complicated and enter into any trades without any reason or any logic’s.
They just run after the markets spoiling their trading account. This is because their understanding about the market was wrong. Their thoughts regarding trading were wrong .
Due to their wrong thoughts about the market they make simple trading business into complicated one and spoil themselves in trading profession.
Trading is a simple business where their is a huge earning potential. But only due to wrong understanding about trading many peoples are loosing money in it.
Even if your trading account is small no matter. Go slowly and consistently with a small trading account , definitely you will get success slowly.
Happy Trading.
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