SKILLS THAT WILL POSITIVELY HELP YOU IN BEING A BETTER TRADER
* SETTING AND ACCOMPLISHING REALISTIC GOALS
Your goal must be realistic (goals must be something within your capabilities),attainable (we suggest you to start with a minimum goal and move up from there, don't hurry) and measureable (you must be able to know when you are far away, close and when you've achieved your particular goal. Making fortune in market isn't a goal instead it should be measurable)
* LEARNING TO LOVE TO TAKE A LOSS
Your losing trades do not diminish you as a person. Losing trades are simply by-products of the business that you are in. The most successful traders in the world have losing trades each and everyday.
* REMAIN FLEXIBLE
The more flexible you are to a trade the more profit you make. Donot stick to a trade, if you find the position unfavourable just squareoff and exit that position. If you do not come out of a losing trade it will eat up your winning trade and you cannot let anything eat away your winning trades.
* FLAWLESS EXECUTION
You dont have to be perfect in this market to make money. Everyone wants to make money but you should rather need to be thinking strictly about executing your trades immediately when you see an opportunity. PRACTICE PRACTICE PRACTICE daily and you will be successful with your execution.
* USE OF STOP ORDERS
In this bussiness, proctecting yourself and acting in your own interest is so much more important than taking a chance. You should be acting in your best interest and take the opportunities cleverly from the market to achieve your goal.
* HOW TO DEAL WITH MARKET WHEN IT NEVER STOPS MOVING
The market is always moving. It never stops. It may slow down or pause for a little while, but never stops moving. The most important thing that you can learn here is you'll need to be making your market decisions strictly on what the market is doing and showing you. This is only the way to be successful. If you are making decisions on outside factors (like how badly you need the money, or what you need the money for), your judgement will be clouded and it will be much more difficult to see good opportunities to profit.
* BEING OBJECTIVE
You need to be constantly thinking that the market can do whatever it wants whenever it wants at anytime. Many people get into trouble by thinking the market can't or won't do certain things.To be objective, you cannot put your demands and suggestions on the market.
* BEING AN ACTIVE WINNER AND LOSER
Winning actively means when a trade is going your way, you must act in your own best interest. Trail your stops to lock in profits, cover your position when it reaches your target instead of looking for a home run, etc. etc. etc. This is what it is all about. Don't sit on your hands
