Tips for Successful Trading

By | February 5, 2019

Be relentless

As a trader, you need to be relentless in regards to your trading approach. You cannot get discouraged after a losing trade or two, that is not the mindset of a winning trader. If You really want to be a Successful Trader .  then you have to have a relentless, unwavering commitment to learning to trade properly as Rewards are “HUGE”

Be adaptable

As a trader, you need to be able to adapt to changing market conditions. We had a Dull 2017 and very volatile 2018 and now we are in whipsaw zone. As a Trader you need to  find high-probability trade signals in any market condition (like price action), you are not going to survive very long.

Trade with strategy and skill

You cannot gamble your money in the market if you hope to become a profitable trader. A professional trader’s First Job is to protect capital and Focus on Risk and Money Management  Professional traders both have strategies that they execute consistently, and you need to do the same if you hope to make money trading.

Conserve your trading capital

I know why many traders don’t focus enough on capital preservation and risk management: because they mistakenly think it’s not “fun” or “exciting”, but that’s only because they aren’t thinking about it right or they don’t fully understand how powerful it is.

Don’t take huge losses as a trader; plan out your exit beforehand and don’t get emotionally attached to any one trade, you need to accept that you will have losses and move on quickly after having one.Each trade should be only 1 of the next 100 trades. No one having too much of an impact on your life or trading career one way or the other.

Preserve Your Profits

You must defend your profits from other traders and from the market. You can also secure profits by not over-trading or taking low-probability trades. Don’t give your profits back to the market right after you secure them. Keep them and then go back to waiting patiently for another  trade.

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