3 Habits to being a successful trader
I talked about mistakes traders make when trading in my previous post. And I thought why not talk about it from a different angle, and weeks later here we are.
Basic rituals you need to a accustomed to as a trader;
1. Manage your risk: Always ensure you use stop loss and take profits orders. Ensure that you limit your risk to an amount you're comfortable with (maybe 5-10%).
2. Control your mindset: While some would argue that it is impossible not to be emotional since we are human. It is imperative that you control your emotions and psychological mindset when trading. Don't let your decisions be influenced by greed or fear. Don't let yourself get emotionally attached to a bad trade.
3. Study the market: Analyse the market with your strategy. Use hard data to guide your strategy plan like technical analysis or fundamental analysis.
P.S: the hardest part of trading is actually going through with your plan. The market can be cruel
Trade safe and stay green!!
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