Sex is 10% in your body and 90% in your head. Similarly, Trading is 10% on screen and 90% on your mind.– Anonymous
1. Correct you self-image. Believe that you’re in the top 10 percent of traders who make money in the financial markets.
2. Have confidence in your trades, trust yourself and do what needs to be done without hesitation.
3. In order to make money in the financial markets, you don’t need to know exactly what’s going to happen the next. You need to know how you’re going to respond the movement of market.
4. Once you’re in a trade, anything can happen. The trade can go against you, hence accept the risk and eat that much you can afford to digest without frustration.
5. Your attitude and state of mind determines your result in the financial markets. Hence, be positive and feel energetic during trading hours.
6. Since, trading is a game of probabilities, learn to think in term of probabilities.
7. Mother market doesn’t know who you’re. She has no issues with you. She’s unbiased towards all the participants. Your profit depends on the level of your skill and perseverance.
8. Trading is a business not gambling. So, run it like a businessman not gambler.
9. Evaluate yourself through constructive self-assessment. Daily, weekly, monthly, quarterly, and yearly…
Calculate your profits and losses. Remember, the balance sheet never lies. Your profit and loss statement illustrates your level of expertise. Please don’t fool others including yourself.