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- Tips For Traders
26/11/2012 11:50:16 AM
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Publish Date26/11/2012 11:50:16 AM
Last Update26/11/2012 12:09:26 PM
First advice: Money management is the key for success in trading!
Don’t over-trade! Increasing the size of the position always makes troubles for traders since it affects his psychological mode negatively.
It is better to trade with only 3% of your equity; follow the short and medium term trend. If you did that you will be always able to recharge your batteries! Go out or take a nap, enjoy something else without forgetting to place a stop loss order and accept the loss if it occurred.
Second advice: Keep challenging yourself!
When you are trading, try to avoid boredom and monotony as it has a decaying effect. Continue challenging yourself to be better trader. Carefully not that, challenging yourself means you should learn from bad trades but don`t challenge the market and never challenge the trend!
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