iCharts Discussions

[pavan29]

1) Have a clear cut plan in place
2) Create a strategy that best works according to your risk.Always experiment that strategy with back dated data.
3) If you loose, you learn. Atleast there is no one in this trading world who never lost. But let that be a major lesson before you proceed with trading
4) When you lost part of your allocated money, dont be eager to invest further to regain the losses. You may end up losing that as well.This helps your focus more on improvising your strategy to regain that lost money.
5) Follow only few indicators which you experimented data on. Mixing all indicators at various points will deviate you from your goals.
6) Follow only specific time frames bases on whether your are a positional or intraday trader.
7) Be greedy, but ensure it doesnt let you down.
If you are looking for additional income as day trader, be happy with small profits. Going home with gains or nothing is fine as long as you dont go with losses. Trust me this is a serious point and has major impact on your attitude.
9) Never be too happy when you won big. You never know what goes against you.
10) Set monthly goals to be achieved via targets and work only towards that target. Focus on the points and the money follows you.

[Creilia]

One of the most important thing for any trader is money management. Leverag and risk management all fall under this and they are some of the things that can really bring a trader down. Greed is not bad if it helps you be more determined and cautious not to lose what you've already made, but it's very bad if it makes you overtrade or trade with no stop loss

[Prutech]

Good list right here for many people it doesn't really work that way cause they are in constant stress out of that result without any real explanation to anything. Just write down that 10 points and try to follow them in your next trades and you will be good.