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Success in trading looks easy and fun but behind it all there is struggle and consistency in living it.
1. Trade according to the Rules, if in doubt avoid it
First of all, a trader needs to make a list of the criteria for the assets to be traded, this will help you in considering the decision before opening a position. Trading results reports can also help you evaluate errors to prevent them from happening again in the next trade.
Make a strategy when you lose, exit if the trade makes you lose, don't wait for the losses to become very large, It is recommended that one should not lose more than 1-2% of capital in a single trade. Don't forget to do technical analysis, in order to minimize future losses.
3. Continuous analysis of your mistakes
First fix errors that are outside the trading system, such as poor execution and poor trade management. If you are experiencing continuous losses, then now is the time to return to your trading strategy and analyze the mistakes to fix them for the better the next time you trade.
4. Don't be afraid when taking an open position
If the market is in a very good trend, then you should follow the trading movement in the same direction, buying on a breakout above the high is a strategy where you should get a chance to sell it at a higher price. Do not be afraid if the analysis and you feel it is the right decision.
Trading is not gambling, so treat all actions with a professional attitude. Whatever it is, anything in excess is not good, if your profit is enough then you deserve a self-reward. Make yourself happy because it affects your mentality while trading.
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