TRADING LESSON
If you always feel disappointed by your trading performance, you are probably judging that performance against some arbitrary ideal that doesn't account for your level of experience, your account size, risk tolerance, and the capabilities of your trading system.
You need to be disciplined and rigorous to start day trading. A common day trader problem is that they lose it and deviate from their strategy.
Some time can pass before you realize you’re not strictly following your initial strategy. This troubles the success rate of the strategy and breaks your odds. A good way to tackle discipline issues is to write down the exact rules of your strategy and stick the note to your monitor so it will be always in front of you during trading sessions.
This way, you’ll constantly be reminded to follow your strategy rules. In each of the above trades, we’ve carefully calculated the outcome. You should do so, too, to be familiar with what exactly can happen to you in every trade.
When you get more experienced, it gets easier.
Identifying the right stocks for Intraday trading involves isolating the current market trend from surrounding noise and then capitalizing on that trend. Certain features—liquidity, volatility, and correlation—characterize the best intraday trading stocks, but it's also important to apply the right entry and exit strategies. Studying trendlines and charting price waves can aid in this endeavor. There are many ways to trade, and none of them work all the time. That is why sometimes it is just best not play. If the conditions aren't providing a good environment for deploying your strategies, save your money for when they are.
Rule of trading, and one I always need to remind myself:
Control your ego.
A big ego will turn a good trader into a terrible trader overnight.
Your next trade doesn’t care how good your previous one was. Consistency is everything.
We all take losses, don’t add poor ones.MR.singh
Source:- https://t.me/TradingEducations
If you always feel disappointed by your trading performance, you are probably judging that performance against some arbitrary ideal that doesn't account for your level of experience, your account size, risk tolerance, and the capabilities of your trading system.
You need to be disciplined and rigorous to start day trading. A common day trader problem is that they lose it and deviate from their strategy.
Some time can pass before you realize you’re not strictly following your initial strategy. This troubles the success rate of the strategy and breaks your odds. A good way to tackle discipline issues is to write down the exact rules of your strategy and stick the note to your monitor so it will be always in front of you during trading sessions.
This way, you’ll constantly be reminded to follow your strategy rules. In each of the above trades, we’ve carefully calculated the outcome. You should do so, too, to be familiar with what exactly can happen to you in every trade.
When you get more experienced, it gets easier.
Identifying the right stocks for Intraday trading involves isolating the current market trend from surrounding noise and then capitalizing on that trend. Certain features—liquidity, volatility, and correlation—characterize the best intraday trading stocks, but it's also important to apply the right entry and exit strategies. Studying trendlines and charting price waves can aid in this endeavor. There are many ways to trade, and none of them work all the time. That is why sometimes it is just best not play. If the conditions aren't providing a good environment for deploying your strategies, save your money for when they are.
Rule of trading, and one I always need to remind myself:
Control your ego.
A big ego will turn a good trader into a terrible trader overnight.
Your next trade doesn’t care how good your previous one was. Consistency is everything.
We all take losses, don’t add poor ones.MR.singh
Source:- https://t.me/TradingEducations
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