How to Become a Successful Trader – Trader’s Blog

In this article, I will give some tips on how to make this year successful in terms of trading in the financial market.
To begin with, it is necessary to define clear goals for a specific period of time. They must be measurable, clear and, above all, realistic. For example, you can set a goal for a certain annual capital gain, schedule a certain amount or a certain amount of interest per month. The main thing is that the goal is achievable. We will probably not strive to earn a million rubles by investing two thousand.

Think about the risk
Are you more stable by nature or do you like dynamics? Think about it and tailor your trading plan to suit you. After some time, you will feel like a fish in water if you make several transactions a day or at least a week. How do you approach risk? Do you get emotional with a 5% drawdown, or do you get emotional with a 15% drop? Tailor your strategy to your risk-taking nature.
1. Invest as much money as you are willing to lose.
2. Don’t put all your eggs in one basket. Trade a large number of strategies that work for different market periods and try to diversify.

Focus on business psychology
Professional traders say that emotions are the main enemy of a trader. To achieve trading goals, it is not enough to have only “wet” strategies. First of all, you need a sober look at the situation. When a series of losing trades in a row comes along and you feel that your strategy is far from ideal, it’s time to show all your composure. Do not immediately look for errors and delve into your entire trading system.
A good trader must keep a clear head in trading in order to make the right rational decisions. Emotions and managed business stress is what separates a successful trader from a loser. Exactly the same detrimental effect is exerted by excessive self-confidence caused by a series of profitable trades.

Be on topic
Keeping abreast of events and having an idea of ​​what is currently happening in the financial markets is another important duty of a successful trader. The financial markets are mainly influenced by various macroeconomic, political and geopolitical events, so it is good to be aware of this even if your trading strategy is completely based on technical analysis.

self-education
It is very important to constantly update your knowledge. So set aside at least a few hours a week to delve into the trading learning material.
Start by watching tutorial webinars or videos for beginners or advanced, depending on your choice. If you prefer self-learning, then choose some good books on trading from real masters.
If last year was not perfect for you in terms of trading, try your best to make it this year. Even the best traders have blockages and work to eliminate them. Only this approach distinguishes them from less successful ones.

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Author of articles on trading and investments, which I have been doing for more than 8 years. Even from your phone, you can open a deal, buy shares, build up capital in assets that will bring dividends even when you stop working. You can't just not think about it.

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