In Continuation with Previous Article
4. Train your Brain to Make Money
Persistence means that you continue doing something even in the face of difficulty or adversity. In trading, persistence is a key ingredient to success. If you cannot muster the discipline to persistently stick to your trading plan and your trading strategy, you will fail to make money.
5. Stop trying to control everything
It’s critical that you understand there’s a certain amount of randomness that inevitably comes with trading. That is to say, you never know what the market is going to do ‘for sure’, not matter how certain you feel about any give trade.
Traders often get themselves in trouble by over-committing to trades because they feel ‘sure’ about what the market might do next. Over-confidence and arrogance have no place in a successful trader’s trading approach. In fact, I would even go so far as to say that if you’re naturally a bit more arrogant and ‘over-confident’ than the average person, you will probably have a harder time than usual making money as a trader.
6. Focus on Learning
Just as “castles made of sand, fall in the sea, eventually,” traders who ignore the fundamental ideas of
1) Trading a sound concept
2) Trading plan
will soon find themselves adrift in the “Sea of Losers.” Don’t let that be you.
As discussed above the ingredients for successful trading we teach them as a part of our trading courses and make traders comfortable in learning how to trade using Intraday and Positional Trading Platforms and mastering trading psychology for Trading in Nifty and Stocks.
You Should know WHEN TO TRADE and WHEN NOT TO TRADE-and the latter is as important as the former because doing the trade at the wrong time can lead to big losses.