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Nairaland Forum / Nairaland / General / Business / How You Make Your Trading Profile Into Profitable One! - [here's What To DO] (111 Views)
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How You Make Your Trading Profile Into Profitable One! - [here's What To DO] by smdsajir(m): 1:04pm On Apr 06, 2021 |
Making profitable trades is worth being. But how many can get it? You can be one of them but you have to know the "HOW?" Here the defined description of your profitable trading tips-- Maintaining Commitment, Even During Challenging Periods Trading is not fun and throughout your learning period, you have to face tough times and hurdles. A good trader should always be ready to face challenges. The goal and working towards it should enthrall you and the losses that occurred should not deter you from actively working towards the goal. If you were not being paid to trade, would you still love it and enjoy the challenge? If so, be sure, you are maintaining the necessary commitment to succeed. Get Comfortable With Losses and Losing Periods You have to believe that my inbox is always full and has been filled to its capacity for a year. It is because of the incessant request for the system with a high winning rate. By itself, the winning rate does not guarantee profitability. The controversial thing to note here is ‘the unsuccessful traders who opt for a high win rate are really asking for compensation. The lack of confidence and unknowing of the fact that nothing is solid in trade prompts them to go for a solid thing and they expect compensation. Intentions Must Be Consistent With Actions & Beliefs If your goal and working towards the goal did not produce the desired result, then the person to blame is no other than yourself. It indicates that your intentions are in direct opposition to your actions and beliefs. It is one thing to say or think, ‘I want to be a successful & consistent trader‘. But if the moment comes to fill in your trading journal and you balk, then there is an inconsistency between your conscious and unconscious mind. It is like ‘somebody wants to be wealthy and looking around his belongings and feels poor’. This attitude won’t help in making wealth and he is prone to failure. Avoid Under-performance in Trading What is one thing which without fail promotes under-performance? Excuses. Have you ever used excuses for your results in trading? If so, you are making it more probable for under-performance. The best way to avoid under-performance in trading is to get rid of the excuses. Adopt a ‘no-excuses approach to trading. It is better to chant and follow the mantra “ I am responsible”.You may not be in control of everything that happens in the market, but you are responsible for your performance. The Bottom Line Trading relies on everything. Your strategy, analysis, broker, signals, and your patience, and so on. But with the main progress, you have to define what you truly need. Thank You! |
Re: How You Make Your Trading Profile Into Profitable One! - [here's What To DO] by elvhinzey(m): 1:30pm On Apr 06, 2021 |
Absolute! Trading Psychology and emotional intelligence, too, is lacking amongst many a trader. Self-discipline and Risk Management are invaluable, too. Patience, being my favourite is of great importance. I have come to terms with this: ' How much you make when you're right or how much you lose when you're wrong?' is a question we should always keep to heart. More pips. Cheers! |
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