Having a positive and consistent morning routine will go a long way to becoming a successful trader. Most morning routines that we have used in the past include some kind of meditation and relaxation of the mind. This is the most critical part of controlling your trading emotions. Learning to rest the mind and visualize…
While there are several factors that make a trade successful, these components are essential with every trade you place: Plan every trade ahead of time. This includes entries, targets, stop losses. Avoid surprises by only trading during high-liquidity hours. Watch for news releases and avoid unpredictable trading environments. Assure your technical or fundamental analysis of…
1. Pre market Planning Your pre-market planning routine will set the stage for all your trades as well as your trading day and week. This is the time to get all your preparation done and also get yourself into the appropriate mindset. It may include specific market review, big picture analysis, possible news releases, fundamental…
Human Ego affects all traders. Regardless of whether you are a Buddhist monk or excellent disciplinarian, every trader struggles with taming their ego… Make sure your ego is in control. We’ll be posting some more extensive content about Trader Psychology over the coming months….
Failing to have a trade plan The number one mistake that most day traders make is not having a trade plan and strict trade process. A trade plan is a set of rules that each trader must create. These rules allow the trader to be consistent and prevent unnecessary loss. Failing to place stop…