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Market is a mirror, It will reflect exactly what you will think, Are you trading to make money or are you trading not to loose money, the moment you understand this you will be ahead from most of the traders. Some of my learning from market and i feel honored and pleasure that i am in this profession because i feel no other profession can exploit your strengths and weaknesses as market can.
1. The most dangerous thing in trading is to win a "BAD BET".
2. You are not smarter than Mr. Market and your trading system, keep following them.
3. Believe in setups when they appear.
4. Trading is all bout trail an errors and learning from your mistakes (so is life), there is no other way.
5. Experience comes with time and it will come with time have patience.
6. Stuck with something? keep working on it, you will get best solution and best experience out of it.
7. Work smart, Work hard.
8. Stay focused, stay disciplined, stay competitive.
9. Believe in MIRACLES.
10. Control your emotions, keep them in check.
11. There is lesson in every trade, learn from it.
12. Any thing can happen any time, Be comfortable with being uncomfortable.
13. Being secure is a myth, Try crossing a road with eyes close.
14. Only way to learn to trade price is to sit and watch and watch and watch and watch and watch and watch and watch some more what price's are doing.
15. Even a perfect setup can turn to opposite side of your current analysis.
16. Last but not least, Practice, practice, practice, practice, practice, practice, practice, practice, practice, practice and when you are exhausted practice some more.
I've learned that I cannot learn what i cannot learn and to always look for alternatives - like copytrader ( e.g. zulutrade as an alternative to forex manual trading.
Hey, I think what have helped me the most is number 14.
Just watching the market and see what the market does.
I think it is hard to just watch and not wanting to jump in and trade.
But wouldn't believing in miracles may want to make you try to win a "Bad trade"?
My friend,
This is where setups comes into play, You got to know what you are looking for and smart enough to differentiate between a good setup from a bad one because there Will be a time when even a good setups will fail and market will test you.
Wishing, hoping, praying when entering a trade or already in a trade is not a valid emotions but people still have it.
So "believe in Miracles" is a hope and i didn't became a profitable trader on first day, it took time and it will take more time to become a consistently profitable day in day out. Every body needs hope, Besides you can apply that sentence in your life too
