What have you learned from the stock market? What was your experience like?
TRADINGFEATURED
"Trading is about putting points on the board. On the charts and off the charts"
There are times when we often feel overwhelmed, hopeless, and lost on our journey. This is mainly due to things not going well, a lack of understanding of the process, overthinking, overtrading, a losing streak, or all of the above.
But what I learned is, you can always make yourself feel better by simply doing something. Not doing anything will keep you stuck. The person who starts and begins working towards the goals they have set for themselves will almost always attract the outcome they are looking for. The results don't happen overnight, there will be many failed attempts but it’s about being consistent, showing up for yourself, and making it a habit. Keep refining your system and remember, 1% better every day. No trader became successful without failure.
We need to put together some pieces.
Technical piece
To consistently put points on the board, you need a system that you follow and repeat. Then you need to collect the data and refine your technical edge to the point of profitability. The same people can trade the same edge completely differently, it’s your rules that ultimately define your system and make it yours.
Emotional piece
Find out what triggers you. You need to be aware of the problem before you can fix it. Often it’s easier to remove yourself from the environment than fix the problem immediately. Have a problem over trading? Shut the screens off and walk away. However, you also need to understand why this is happening. Usually, this problem comes from a lack of confidence, meaning you need to refine your edge and work on yourself. Do not allow fear or greed to control your decisions.
Discipline piece
Trading is 10% technical and 90% following your rules. The emotions will sway you. The technicals will fail. But your rules must never be broken. Risk must be managed. Traders often fail because they run out of money, and know when to walk away. Live to fight another day.
Credit: Quora