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You must be disciplined in following the plan of your trade religiously. Once you have closed your position, you should record everything about the trade. Write down where you wanted to enter the trade, what you expected out of the trade, and what you actually did get out of the trade. Make sure to include notes that will help you learn from the trade, reasoning what actually took place once you e...
As a trader, it's very important that you keep accurate records of all factors that may impact the outcome of your trades so that you can learn from your losses, improve your performance, and do better next time. From a psychological viewpoint, by documenting actions, thoughts and emotions associated with both wins and losses, you will come to see what works and what doesn't. When it comes to loss...
Disciplined trading is critical for lasting success. Profitable trading requires a combination of skill and probabilities. The winning trader implements proven trading strategies over and over, so that across a series of trades, the law of averages works in his or her favor. Unless you make trades, you have no chance of winning. The more times you try, the more likely you will succeed. An importa...
You need to find other things to do while padding the time waiting for better trades. Try to study the markets or different ways of trading, or simply do something completely different like going to the beach. It is critical that you learn to enjoy yourself in ways other than being in a trade. The fact is, if you are trading in a professional way, you are out of the market much of time. So you nee...