This thread is about those 51 things which all traders should remember or points which they should think upon before jumping into the markets. If you feel it worthy,don't forget to #retweet and share:)
-Set the target on terminal not in mind
-Choose the right broker
-Have your own trading setup
-Never put all eggs in the same basket
-Nurture Discipline
-Choose your mentor wisely
-Entry in haste, regret in later
-Keep tight Stop Losses
-Consistency is the key
-Donโt gamble on result days,80% people lose big money in long run doing this
-Donโt overtrade
-Donโt take massive leverage
-Start loving small losses
-Monitor your trades regularly
-Positivity loop
-Know your personality
-Stick to plan
-Organic gains will help not bigger deposit
-Learn technicals like a pro
-Read a lot
-Taking a pause when you are loosing
-Averaging is ok but over averaging is a debacle
-Donโt do what you donโt understand
-Diversify only to the extent of monitoring
-Control your emotions
-Automate Automate and a little more automation as you grow,but first get basics clear and a system ready
-Donโt be so skeptical while hitting โBUYโ order if setup matches
-Donโt make it complex,simplicity makes money
-Donโt trade with borrowed money
-Learn from your experience
-Trend is the friend
-Money management is vital
-Treat it like a serious business
-Keep on educating yourself through financial news too
-Take advantage of technology(Advanced charts/systems and data)
-Survival of the capital is the main quest focus on that
-Some times learn not to trade
-You learn quicker when real money is involved
-Select a niche and segment, stick to it
-Take a break
Sitting constantly infront of your laptop for trading will put undue stress on your eyes as well as brain.
-Donโt Give UP
Finally make sure that you donโt give up on loosing. Keep learning and devising your own strategy. Failure is the ladder to success.
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#AKAL