HOW TO MANAGE YOUR LIFE AND TRADINGHello traders, today we will talk about how to manage your life and trading
Hey! When we all started, we encountered some trading challenges.
These issues typically arise in the first year of trading. By year's end, the majority of traders had lost all of their money and had given up forever.
In essence, this was brought on by excessive trading and a lack of knowledge. Trading requires certain skills and techniques, much like many other professions, which you can learn and use to achieve success. But if you're just starting off, you probably don't even know where to begin.
PROBLEMS: Constantly worried about deals.
This point greatly depresses you and diverts your attention away from other vital matters.
- Personality and emotional losses
When you start losing money too much, it might be difficult to recover, and attempting to do so will just result in further losses.
- Confusion of mindset
Like every sadness we experience in life, this one clouds our ability to think clearly.
Rushing into new professions
Overtrading is a mistake that many traders and investors make, and often results in significant losses.
- Investing all of your money in assets.
Write me a comment if you've ever tried trading with all of your money!
Due to this issue, trading has turned into gambling and new traders are losing too much money.
Solution: Schedule your trades.
Concentrate on upcoming trades, plan your entries, take profits, and halt losses. It should be planned, and if something doesn't work, you need to fix it and try again, just like in any other firm.
- Make modest deals
Start with little trades when trading; don't hurry things if you won't be wealthy until the end of the year. But first, master trading, and make sure you've gained knowledge from both losses and triumphs.
- Emphasis on manageable risk
Yes, only 10% of traders make money each month; the other traders struggle somewhere in the middle. Before starting any new trades, attempt to understand your risks to ensure that you will be among the 10% winners.
- Implement trading system
You must experiment with many techniques and tactics before you can determine which trading criteria work best for you. Your trading system should fit your personality. You will be fine and closing months in substantial profits once your trading method is set up, though.
- While trading, take pauses.
When there is nothing to do on the market, take a deep breath and relax. Make sure you have time for other things. Try to arrange your trading time. The market is here to stay:
This chart is just for information
Never stop learning
I would also love to know your charts and views in the comment section.
Thank you
