5 Tips That Will Help You Survive As A Day Trader:
1:Losing Streaks:
The brain does not like repetitive losing.
Be sure to stop trading after 3 losing trades in a raw!
2: Create a trading plan and stick to it.
Successful traders have a plan and they trade nothing but the plan!
3:Manage your mood:
If you are ill, cranky, depressed, or sad, STAY AWAY FROM TRADING!.
4: Keep detailed records:
A trading log with self-assessments of your trading performance will pay dividends very quickly.
knowledge is power!
5:Have adequate risk capital.
Your trading capital should not consist of money you need to pay bills or money that you have committed to other investments like your home or retirement funds.
The brain does not like repetitive losing.
Be sure to stop trading after 3 losing trades in a raw!
2: Create a trading plan and stick to it.
Successful traders have a plan and they trade nothing but the plan!
3:Manage your mood:
If you are ill, cranky, depressed, or sad, STAY AWAY FROM TRADING!.
4: Keep detailed records:
A trading log with self-assessments of your trading performance will pay dividends very quickly.
knowledge is power!
5:Have adequate risk capital.
Your trading capital should not consist of money you need to pay bills or money that you have committed to other investments like your home or retirement funds.
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