10 tips on How to be good trader oh 10 tips on How to be good trader
#1 : Do not go contra if one could not pick up
#2 : No short term trading if too busy to monitor
#3 : Do take a pause/rest after certain bad trades. WHY? to reflect on your emotions
#4 : check if u done a trading plan. check your position sizing. check your EMOTION
#5 : Write in your trading journal. because ... you will do the SIMILAR mistakes next time(believe me, many said ... I wont, they lied)
#6 Time frame is EVERYTHING. If one could not understand time frame, one will NOT be able to know how long he/she going to exit
#7 : Risk adverse and Risk appetite ... do you understand yours enough to follow all those penny and short trades?
#8 Risk management : It is EVERYTHING in trading.
#9 i only trade stocks i m familiar with.
knowing is one thing, doing is another
talk is easy ... do it in real, using real money? that is something else
#10 : Discipline. Must do a trading plan. That is why it is difficult
#11 : refer to all the above
#12 : 3M ... method, management, mindset
while method is 20%, management is 30% ... mindset is 50%
Source: cpteh, he blog at: http://cpteh.blogspot.com/