10 Trading Tips to Live By for 2017
 

  1. Stop chasing set ups, instead, let them come to you.  Quality over quantity, and going after only plays with true money making power will increase your success over many trades.
     
  2. Be more content with making small wins and batting for the singles.  Once in a while, you'll find that your consistency has placed you in a position to hit a home run. 
     
  3. Understand that losses may happen and aiming to earn them back in one day is unrealistic.  If you've suffered a hit, keep your cool and trade your account back slowly.  Doing so is teaching yourself an invaluable lesson.
     
  4. Continue to look for your niche.  Some traders don't really understand what they are good at until 1-2 years into experimenting with different set ups.
     
  5. Set Realistic Goals.  Start setting daily goals based on how good of a market day you foresee ahead of you.  If today isn't looking too great, then maybe you should aim for that $200 daily goal instead of your normal $600 daily goal.  This way you don't put too much pressure on yourself in a way that could be detrimental to your trade.
     
  6. Record information.  A lot of information can be remembered and stored in your head sub-consciously, but it's good to perform studies on the markets and generate an idea of what works and what doesn't.  This will ensure you're aiming for those high % success efforts.
     
  7. Invest in your education.  One of the biggest problems we see nowadays with anyone trying to use money to make money, is that they simply don't use any of the money to have to invest in the proper knowledge, education, and wisdom to make proper financial decisions.  
     
  8. Take advantage of your resources.  We're born in the era of the internet.  Right now communities of professionals and elite traders have formed in tandem with each other to take on one of the toughest games, the markets.  Having a team around you can greatly help you establish an idea of what's going on FAST.
     
  9. Maintain a balanced lifestyle.  Keeping a close eye on the markets is a good idea, but making sure your mental health is in tip-top shape is important for making correct decisions.  
     
  10. Don't Give Up! Resilience is an undying characteristic in those who end up successful in the markets.  One loss isn't going to throw a good trader to the ground because they know variance is part of the game.

 

 

 

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