To make our life better we try to bring in more and more comforts in the life but in trading it’s completely opposite you can’t make your trades better by installing different types of software.
The main key to become a successful trader is just involving yourself less in the market and allowing the market to do its work.
Most of the traders just give their most of the time in the market which is wrong practice. It can lead to over –thinking, over-trading etc.
If we eat a food in over load quantity it will definitely give a health issues so anything in over quantity is harmful even if it is a trading.
So if you want to become a successful trader , you need to make your own path without over thinking on the market trades.
Biggest difficulty in becoming a successful trader.
Think of all the trades which you have lost. Not the ones which were according to your risk to reward ratio but the ones which affected you the most and you even didn’t think of those to lose.
I must say you that if you will analyze , then you’ll come to know these are the trades in which you may have not followed your trading plan and must have break the rule.
Be honest in your answers to yourself that how many times you have been over trading and over involved in the markets.
I would say that even if you have been honest to yourself then the cause of you not being a successful trader is over doing nature with regards to the trading.
The key for success is just doing nothing much in the market which you must have not practiced since the time you started trading.
I would like to clear myself that doing nothing means just doing something in the market and not totally not doing anything because just doing something is much enough then over doing in the markets.
The most difficult is to have control on yourself to keep away from the market but it is really required to do so as every time observing and thinking what will happen for your trades in the market is not going to give you any solution.
Try an experiment if you want to become successful trader.
Here is a big task for you take a trade , Make an entry in a trade , set up its risk reward ratio and stop loss and then don’t observe your trade for next seven days.
You should be honest to yourself and not cheating , if you do this you will observe that your trades have come out profitably or you may have loss the money if you may have modified your decisions by watching the market.
You will surely see the results with any of these three in the period of seven days. The profits earned can be even greater than your reward you thought of.
Now just think that isn’t it really a good practice because after your trading in setups you keep on observing the markets which may brings a lot negative thinking and emotional disturbance within those seven days.
But this practice will help you to be away from the stress of the trades and if you fail to do so then you must understand that you can’t become a successful trader.
Let your strategy to workout.
If you have any kind of trading strategies mastered in it then you must apply that in the trades. If you are not getting consistent profit then you may be not allowing your strategy to work out.
For allowing your strategy to work you should give it time and leave it up to the market. For this you need to do something else or nothing to let your strategy to work.
The purpose of taking it as a business.
If you want to trade successfully in the market then you must change your way of thinking and taking it as a business deals.
You should be not at all confused with the trades and must maintain clean records of trades. You need to pay the basic cost of trading in terms of the risk and you cannot even avoid it.
You just have to make sure that you earn more than the cost in order to earn profits. Instead of trading all the time leave it aside.
This type of attitude will make your performance better in terms of trade and also lead to your progress and it will build your confidence.
Management of trades.
As I mentioned above its better to keep the trade at aside and give it time. Improvement can be brought this way as it makes free from the fear of trading and getting panic.
Don’t get involve in those time in reading the trade news or listening or knowing about the markets just apply your strategy the one which you have mastered and leave the rest on the market.
Make sure you have pre planned your risk in each trade and also a stop loss for it and be very discipline in following your strategies.
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