July 18, 2018 at 10:04 #5022
What are those mysterious things that stand like a barrier? Do you think you can become a trader if those things don’t stand like a barrier? Well, that’s quite questionable because these things that we are going to discuss today are more than important. Even the Singaporean traders have these things so that they have become experts. You should understand that it is not impossible for an ordinary person to become a trader. But there are few things that person should do in order to become a successful trader. For example, if you are planningto trade you should allocate the required time for trading. You should commit yourself to trade. Likewise, there are few things you should call to mind if you want to become a noteworthy trader. You may already know a few of these but it is rare to see that beginners follow these things. So, no wonder why beginners are still struggling to understand what trading is!
Trading the key levels
The new traders are always busy in finding the minor support and resistance level. But do you really think they can make a consistent profit by trading the lower time frame? In fact, lower time frame trading is often considered as the most dangerous way of trading. Those who are looking to become a successful trader within a very short period of time must know how to trade the key support and resistance level. If required they should learn price action trading since it will help them to execute a trade with very tight stops. Once you start to follow this basic rules, you will see positive change in you.
Trading capital isn’t a joke
If you are thinking that trading capital can be earned back, you are wrong! It is not easy to build a good account. You would have to exert a lot of effort and dedicate a lot of time to create a successful account. So, just imagine losing such an account just because of your carelessness. You should not be careless when you are in the Forex market because even a slight mistake could lead to severe losses. So, starting with selecting an online trading platform until protecting your account is very important. There are some traders who treat their account like an important account at the very beginning, but once they earn a few good trades they wouldn’t treat their account in the same way. This is actually inappropriate and commonly can be seen among money-minded traders. If a trader has entered the market just to make money, he would have this kind of behavior. So, they wouldn’t obviously reach the success in trading. You cannot become an expert unless you know the worth of your trading capital. You should protect it as much.
Don’t be timid about being a student
You cannot become a good trader if you are timid about being a student. A successful learner will end up as a successful trader. It is not shaming to learn. You should be proud if you are still learning the market. Even the expert traders learn the market despite their success. They are aware that education has no limit. You can learn something new every time you enter the market. You would feel like a student if you are a beginner, yet don’t be timid about that. If you want to succeed you should accept it.
Don’t think about being in the market for 24/7
There are some traders who try to learn, practice, trade, and remain in the market as much as they can. They sacrifice their entire life for trading but this is not correct. This will definitely become a barrier at the end. You wouldn’t feel like enjoying trading because you have not been living your life. So, trading is about how you balance life and work.
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