Every single day a new trader is coming in the market, some people are in the learning process like me and some people are very experienced. Well I am also a beginner in the trading process but I am experienced some things and I am now at that stage that I can do it by myself. So let me tell you and share my experience that how I have made trading very easy for myself.
PSYCHOLOGY PROCESS
When a new/beginner trader will be taking a trade at first moment he will not be having any confidence and idea what to do. So at this moment the trader should control his mind and also take control on his emotions, this is one of the biggest challenge (to be honest) the whole trading depends on the psychology. For control your emotions some simple things you can do is eliminate bad habits from your daily routine.
And add some new/good/healthy habits such as
- READING BOOKS
- MEDITATING
- PRODUCTIVE THINGS (like playing some sports)
or anything other you like to add, well at the starting point of my journey I am doing this things daily.
And the last step to take over and track your own feelings is JOURNAL. Well this is the most important step, if you also see the big traders they are also doing the journal to track their emotions.
FACING LOSS IS THE BIGGEST CHALLENGE FOR EVERY TRADER
When a new trader is getting into the trade and when the trade does in the opposite side of his favor he will get panic into his mind for sure. At this moment he will feel very nervous and his emotions will control this is the most difficult part, and being honest at this point person get low confidence. And instead of panicking the situation take control your mind and see why the trade is going in loss it is as per your strategy or not?? LOSS is the most important thing in the journey of every trader because it will help to cure your own mistakes.
TRADING IS SIMPLE
After you followed your own strategy/rules and control your emotions at this moment you will feel like trading is very easy. The only thing you need to do is have PATIENCE until the trade comes and execute it and still stick to the trade until your TARGET is been hit. At this moment you feel like you just need to click TWO BUTTONS OF BUY AND SELL. Which is absolutely correct.
Well the game over here is 80% of PSYCHOLOGY 10% of RISK MANAGEMENT and rest 10% is of strategy. At the end you just need to learn how you can control your emotions, stay strong at the losses and learn everything new from the trades, and the most important thing is to manage your own fund. Because at the end you can only make money with your fund. If there is no fund then you can't trade in the market.
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