Most people who earn money on the market believe that the answer lies in finding some simple technical analysis strategies that cut them into profitability.
The truth is that trading is not as easy as beginners. It is a profession and requires a learning curve like any other profession. Reading a book or getting some simple "tips" will not make you a professional merchant.
After a long period of study, it is not unusual for students to start searching for "holy grail".
They are looking for more metrics, chart patterns, gurus, alarm services, or the latest secret day trading strategies and other things that will help you succeed.
But here's the fact. It is inside of success … and it won't be easy.
In fact, this is one of my favorite successes:
"Successful people do what unsuccessful people refuse to do."
Apply this to the "Daily Trading Rules for Life" list … all have to do more with you than on the market.
- The necessary consistency is in your mind, not in the market. Many are disappointed in the market because the market often behaves differently than they expect. You can't trust the market to be consistent. This is largely a random walk. But there are times when the market sets a probability scenario that gives one edge. It is up to you to trade consistently with those probability settings and trade every time they occur.
- Trade like a cat. Most beginners are over the trade. This is one of the most common crimes. Your job is to be better than the next day merchants are expecting discipline as a cat in the brush, just for the right moment (the high probability setting) and then hopelessly jump into the trade.
- Successful trading is simply not a mistake. Keep daily trading rules on the wall or on the monitor and follow these rules. You must be more disciplined than the average trader. Never depart from your rules, no matter how good the trade looks like or feet, if you violate objective and restrained rules.
- Only trade if you are in the optimal emotional state. Never trade if you are in a tired or emotionally unstable situation (for example after fighting with a spouse or friend). Daily trading is more like athletics than academies. To trade with such a short time frame, you need to make decisions per second and risk a large amount of money. Make sure your mind is sharp and emotions are centered.
- Keep a detailed trading log. I saw a trading diary every day. However, my experience with dealing with commercial students shows that less than 10% use it. This is a huge mistake. You should not only sign up for any trading, but also record how you felt and what you thought when you were trading. In this way, logs become a kind of biofeedback mechanism. Personally, this was the difference that made everything.
These 5-day trading rules are not the rules you might be looking for. The masses require rules on indicators, grids where you get in and where you get out.
Obviously, there is a clear need for objective rules about these things as well. Thousands of traders, however, have rules of this type and continue to fail as these rules are about market action.
Cannot succeed because there are no or no rules for the most important rules of their own action.
If you find yourself resilient to the importance of the rules in your behavior, you will notice that one is the one who feels the same. But because the masses have to stop themselves because of their day-to-day failure, and do something different.
Following the 5-day trading rules, retailers do not. Not because they can't do them, but because they refuse to do them. And remember: "Successful people do what the unsuccessful people do not want."
Source by sbobet