[sc name="article-ad"]Know your abilities. Success of a transaction consists of 97% in the using and understanding of your strengths and weaknesses. If you aren’t using your strengths, you will lose. Make a notebook. You should always learn from mistakes and of course you need to memorize them. You need to store information about your successes and mistakes at hand. Look for everything that happens at the financial market, and record all changes carefully. This notebook will always be an assistant no worse than any books about the trade.
Perseverance wins. According to statistics from 250 transactions only two will be most successful, with three you will lose money, but the outcome of the other transactions depends entirely on you. Learn from your mistakes. Markets and trade is such a thing, where damages are an integral part. But you can manage them.
The ups and downs. Remember, too high ups and collapse in prices can be possible. These “ups and downs” don’t spare anybody and throw from the market as buyers and sellers. Defend your capital with might and main. Avoid small damages. And the most important thing – don’t have losses. Of course you shouldn’t pay attention to the small losses; but keeping of a losing position leads to stress and prevent and to think soberly. Try to manage risk completely, and luck will be on your side!
The most important thing is to be patient. Don’t hurry; don’t enter the market just to be in the game. Explore, observe, make a strategy and act at the right time. If you are searching for something, you don’t find it. According to the Elder: “Technical analysis provides many opportunities to deceive yourself and see that what you want for yourself”. If it is hardly for you to find something you are likely to see something that doesn’t exist in reality.
If you are losing it’s better to take a break. It’s better to close all positions for a few days and not trade. Don’t win back immediately after a loss and try to return money, there is nothing good in this act, because it will be impossible to perceive the market actually.
Work on yourself, don’t go against yourself. Look through your open positions every day. If the position makes a profit adds to it. If your position doesn’t provide profit or income is too low, it is better to close it. Give the profits grow.
Act like a fighter. You should play on the side that is stronger. Don’t waste your time and money on the floor of the market. Your goal on the stock exchange is getting the maximum profit. Beat the crowd. Other traders in the market want to take your money and your goal is not to let them do it and take away their money.
Be ready for a serious study. Traders who don’t spend enough time on training, supervision and examination of the financial market, finding new methods and developing their own, learning new trading systems will always have losses.
