Doesn’t matter what kind of trader you are, we have the same objective.
It has to do with the attitude towards what happens outside that you do not control and what you can manage, which are your reactions to them.
15 trading truths.
- Take trading seriously, it’s not a game, it’s not a casino or a type of gambling, it’s really a business.
- You must leave your emotions out of this business. Greed or fear are very harmful. Much of the success in trading depends on psychological aspects.
- If your expectations are unrealistic you will get nowhere.
- Do not think that it is impossible to succeed in trading.
- Practice, analyze and learn enough before making excuses and giving up.
- You can read and try hundreds of strategies, but it is very difficult to find the perfect strategy. If you follow too many strategies, you will become saturated with information and you will only get confused.
- Try simple strategies and adapt them to your needs. Remember: Simplicity in trading is key.
- Start practicing in a demo account.
- Take the demo account seriously as if it were your money at stake.
- To be a profitable trader there are no shortcuts: hard work, discipline and patience.
- Throwing yourself into a real account too soon is not smart.
- Being afraid to jump into a real account when you have been practicing for long enough is not smart either.
- Don’t choose your online broker because it offers the most aggressive promotion. Look for a serious, reliable broker that fits your needs.
- Trade only with an amount of money you are willing to lose.
- If you consider trading as a solution to your financial problems, your emotions will put you under negative pressure.
There are many more trading truths, stay tuned to our posts on networks and here.
You may like to see this: Trading plan: The first step to success
Important: The information and/or knowledge expressed in this article shouldn’t be taken as investment recommendations or financial advice. All investments and/or actions involve a risk and each person is responsible for researching, educating and analyzing before making an investment decision.
