7 tips to keep your operation solvent | Trading Tips
Trading and stock market are 90% mental and 10% technical, you cannot afford to know the rules and skip them, you must have a method and follow it strictly.
1. Be Patient One of the main problems of Traders is over-trading, there are not always entries in the market and you have to have enough patience to wait for the right moment to enter.
2. Create your graphics Don't listen to what you read in the press, don't listen to what your colleague or your cousin or the bank says. Operate according to your way of operating and what your graph is telling you, not what you are reading on twitter, in the press or anywhere.
3. Don't let your losses run When you enter an operation you must be very clear away where you have to leave if you have made a mistake and where you have to leave if you are right, as soon as you modify that by letting your losses run what you are going to do is that a loss that was controlled and assumable becomes a totally unattainable loss.
4. Trade with what you can afford Trading should be done only and exclusively with money that you do not need for your day to day, money that you can afford to lose.
5. Be realistic A movement is not going to be going up for an infinite time or going down for an infinite time. When you have planned your operation and you are clear where you are going to leave, if you are right you must leave at that point. Do not wait to see if you are lucky and the price continues to rise or continues to fall.
6. Collect benefits I usually operate with a very small account. As that account grows, I withdraw the benefits so that after a few weeks that account will return to how it was. This is the way I have to have a kind of salary feeling and share that money that I have earned to the financial markets in real money that I can spend in real life.
7. Train Today on the Internet you can find a lot of free material, but by training with professionals you are going to speed up that learning a lot, with which a process that is long in itself, becoming a Trader is going to become a somewhat less long process.
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