Tips on how to improve in Trading
Since we know you won't be able to tear yourself away from the charts this holiday season, we want to share with you a series of trading tips to help you get your trading strategy in order. This way you can enjoy your loved ones without Father Christmas bringing you a bag of coal.
You'll see that these tips are very Christmassy (we couldn't help it), but you'll find a lot of help behind them. So ready or not, let's get started!
Choose your active menu wisely so you don't stuff yourself. When you go trading, don't go for as many assets as possible. Turkey, croquettes and mashed potatoes are all well and good, but if you go overboard with the omelette and salad .... then you'll want to go for the lamb and it's going to make you sick. Don't let trading get out of hand.
Decide which assets you want to buy so that your strategy makes sense, because quantity does not equal quality. It is better to have few assets with a high probability of success, than many assets with no head or tail.
Remember: there is no such thing as an aero-net for trading.
Don't listen to your brother-in-law, it tends to go wrong. In every family there is always a relative who knows a lot about everything, and who always has a piece of advice to give you. At this Christmas dinner trader you will not miss that cousin who invites you to invest in a new cryptocurrency or in the shares of a company "that is going to do very well".
Don't listen to him, at least not completely, and don't invest in something because it has been recommended to you. If it seems interesting to you, study those assets, and make an informed decision.
There are different tools you can use for your technical market analysis. Here's when to buy and sell stocks (https://canaltrader.com/blog/cuando_comprar_y_vender_acciones)
Don't trade at 12 o'clock at night, because then Santa Claus won't come. To make good decisions and make a good study of the charts, you need to have a fresh mind.
You need to have concentration.
**Don't stay up all night waiting for an asset to reach the value you want because it might not, and tiredness and boredom will make you make bad decisions.
Respect your Secret Santa budget max. If your group of friends is organising a Secret Santa and you have agreed on a maximum budget of €20, respect it. Don't get carried away and spend €200 because "I saw it coming".
This is super important. If you set a maximum investment budget every month, you must respect it and never exceed it, no matter how many good trades you could make if you spent "just a little bit more". Otherwise you will be driven by emotions and they will have more and more power over you.
Craving is the way to the Dark Side. Craving leads to impulsivity, impulsivity leads to bad decisions, and bad decisions lead to suffering.
Leave the Lottery for the children of San Ildefonso, in trading, always have a strategy. Tattoo it if you have to: trading without a strategy is not investing, it is playing the lottery with expensive tickets.
Don't forget to add trading education to your Letter to the Three Wise Men. Canal Trader's Masterclasses are given by leading teachers in Spain who share their knowledge about trading to help us improve our trading. With 40 financial training sessions full of educational and human quality, that will help you to order and structure the market with head.
And above all, make the most of these dates and Spend time with your loved ones .
Just as it is important that you respect your trading budget, it is important that you respect your trading hours. Make time for your work, your family, your friends, yourself and your projects. Not everything in life is trading.
And respecting schedules and trading only at the times you have agreed with yourself, is essential to have a clear mind of distractions and thus make better decisions.
And that would be it! From Canal Trader we wish you a Merry Christmas and a Happy New Year 2022.
Translated with www.DeepL.com/Translator (free version)
Learn about Social TradingSocial Trading is a new system that gives everyone access to the world's best traders. You can follow top traders and automatically copy their trades. You make money when they make money with no trading expertise required. This is the Social Trading revolution.
JOIN THE TRADER CLUB
Join the Club and receive a free e-book with 10 lessons on how to get started in trading. Enjoy exclusive discounts and other benefits of the Trader Club.
You have successfully joined the club! You have been sent your password by email.