In this article I am going to highlight some things that I apply personally in my trading.Read this article concentrately since I spent lot of time on writing it for you and this can create lot of difference in your Trading style.
a) Get Organized and Disciplined
The most common reason why most of the peoples fail in trading is that they don’t get organize properly as well as they are not disciplined in trading.If we don’t develop good positive habits ond proper patience we can’t be a Successful trader.Many people don’t make a Trading plan before trading as well as they don’t follow the desired rules while trading.Always remember Discipline creates Wealth.
b) Do not hope that each and every trade will go in your expected direction
Trading is a combination of more winning trades and less losing trades which ultimate’s you in making money in trading. Losing is a part of trading business we should accept this truth,Therefore make a realistic plan with money management rules in trading. Make sure that the risk per trade should not exceed more than two percent.Many times it happens that even a perfect trade also converts in a losing trade, but if you don’t risk more per trade and if you follow a strategy of trading that works then you will make money as a trader.
c) Dont overtrade
Many peoples I find that they think that more trading means more money, But it is not like that.Most of the peoples are watching the price charts more desperately for searching there trade set up. Even if there is no proper trade set up still many traders are entering the market anyhow and create the trade ultimately which results in big losses.Always have patience and wait for a proper trade set up according to your strategy even if you find less trades but the probability of winning will be more.
d) Always Believe yourself
In trading we should always trust ourself not on others advice or tips what they say about the markets.You should have trust and faith in your proven trading strategy.Many peoples are following some other peoples advice for trading which results in Major failure.While trading I always Put my TV Off, I do not read any kind of trading business news , or any kind of another advice or tips, I listen to myself and my particular trading strategy and my price charts and my price analysis. You will get success in trading only from your experience and confidence.
e) Do not trade in a frustrated or confusing mood
Stay away from the markets if you are frustrated or confused due to any kind of reason or due to losses in the trading. Always refresh yourself by changing your mood for one or two days so that you can restore more energy for analyzing the markets properly.Read some motivational books or see some motivational video for being motivated while trading.You should be able to analyze the markets by sitting in front of the computer for one or two hours maximum and find your high probability winning trade,This is possible when you have mastered your trading.
I hope that the above points will help you to gain the knowledge and help you improve your
Trading.
Happy Trading