Read an article or watch a video tutorial, and overtime you will build a huge knowledge base that is fundamental to successful trading. Everything is reflected in the price and volume when it comes to technical analysis – this is why I favor it over any other system. My own personal morning routine includes this element and it’s essential for clearing your mind. Reduce the stress every day by taking time off the computer and working on other areas of your life – especially family.
Stay motivated and set realistic and achievable goals that continue to take you to the next level.
These are interchangeable for stock traders, option traders, future traders, and even forex traders. I am already a strong believer in following a trading system or I wouldn’t keep writing and preaching about it.
The key point here is to have set points (stop loss) within the limits of your tolerance for loss. The wealth of information and training online today about trading is incredible – and for the most part free.
And finally, ask for help from others, get a coach, or join a trading forum to keep you accountable. But once you have a reliable set of trading rules, your discipline can help you reap huge rewards.
It is human nature to want to vary or break rules and it takes discipline to continue to act in accordance with the established rules. Focus and work hard to completely understand every angle, abnormality, risk, reward of say Credit Spreads and then move on to Iron Condors.
The point here is that you set up a system and continue to make trades – even if they are small trades (1 or 2 contracts at a time). If you learn to master trading with only a few shares, then trading a couple hundred or thousand shares will be much more successful. Place a trailing stop loss order and see how high it can go from there after locking in gains.
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