Trading is a combination of art as well as science. Knowing too much knowledge 0f trading does not mean that you can trade successfully. Knowledge is must but you should also have an art of trading.
Don’t follow others opinion regarding your trade
Once your trade is executed don’t follow other advice or suggestion regarding that trade since nobody knows what the trade is going to do. Believe your strategy and follow yourself. Don’t get panic if your trade is going opposite. Stick to your strategy and do not get hyper while trading and follow risk management.
Trade only according to your trading strategy.
While trading don’t change your trading strategy frequently. if your trading strategy really works then follow your strategy for at least six months to test the results. If you change your method frequently you will not get results according to your strategy. First learn the trading style of price action trading , master it and then apply it for your trading for about minimum six months and see how results are you able to create. Mastering your trading strategy is important. You should be able to identify the high probability winning trades.
Do not Overtrade
Over trading does not mean that you will get more successful results. Actually over trading leads you to failure and wipe out your trading account. Most traders create good results from their trading style but at the end of the day or at the end of the month they lost all the hard earned money cause of overtrading. Many traders place another trading order after winning one trade, since they get over confident after winning one trade. They place another trade without any logic and risk more and get their trading account lost. Therefore after winning don’t get into another trade immediately without logic over confidently, wait for your next price action signal and follow your price action strategy to get more winning trades.
Do not get Over Confident
I found many traders get over confident after getting good results from their price action trading strategy. One should not get over confident because trading is a journey not a destination. Always remember trading is a combination of more winning trades and less loosing trades which results in success. If you follow money management, few loosing trades are the part of our trading business to get more winning trades which results in success. Your confidence level should be in a moderate level in trading business , Don’t get overconfident after winning some trades or don’t lose your confidence after losing few trades. But overall you should be self confident not over confident.
Do not trade with the money which you can’t afford to loose
While trading there is a high risk if you don’t follow the rules of trading. There is always a uncertainty in trading anything can happen. If you are a fresher or just entered in trading you should be always aware of trading rules while trading .
Do not Follow News and Financial Media
News and Financial media are very toxic for trading. Do not follow them. Just follow your Price action trading strategy and be confident about it. Obviously news effect the market but most of the times there are many rumors in the news which effects your trading. Price action charts shows you the signals of the market what probability the market is going to do , no need of following the news for unnecessary wastage of time. Just trust your Price action strategy which shows you the signals of the market.