What simple things made you a better trader?

"Focus on this for 30 days..."

Focus on this for 30 days:-

1. Trading Plan

• Define trading goals

• Choose a market

• Describe analysis process

• Develop a strategy

• Set clear entry-exits

• Set clear trading rules

• Adjust, refine, and improve

2. Risk Management

• Target low-risk and high-reward

• Position size correctly

• Understand win rate

• Use stop loss to protect capital

• Use trailing stops to protect profit

• Trim profit but leave a runner

• Define risk tolerance

3. Define, Test, Refine

Most traders fall short and trade with real money before they know their strategy works instead :

• Define trading plan

• Define risk management

• Take 200 practice trades

• Refine strategies from the results

4. Control your emotions

• Greed - Sell

• Fomo - Do not trade

• Anger - Step back and evaluate

• Stress - Lower capital at risk

• Confidence - Practice more

• Consistency - Define routine

• Discipline - Turn up every day

5. Profit targets

• Target 1% moves at first

• Move to 2% when confident

• Compound results

• Leave a runner

• Target 25% account growth before adding more funds

• Avoid payouts until the account has grown substantially

Credit: Quora

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