In this video, you will learn about five trading tips that will improve your trading performance. Trading can be stressful at times. So, you need the patience and discipline to become consistent with profits.
When you make a winning trade, it puts you in a trading tendency to rejoice. Then you ignore the trading plan and start trading randomly, you then make losses. It puts you under immense stress, and then emotions take control. When emotions take control, it then makes you to act irrationally and you end up chasing the losers and try to get back the losses. The result will be a margin call or you wipe out the entire account.
Tip 1:
Write about your emotional state at the end of the day after you make a few trades, whether you win or lose.
Tip 2:
Don't chase trades. If you make a losing trade, realize that there are more trading opportunities ahead.
Tip 3:
When you go through negative emotions and trading psychology, it is time you should take a pause, and come back once you feel comfortable to trade.
Tip 4:
Rest sufficiently between trading sessions. It puts you in a relaxed state of mind and you can analyze trades in a better way.
Tip 5:
Don't trade alone. Get in touch with other traders who are successful through chat forums and groups. Participate in discussions and find out what makes them excel in trading.