Beginners Trading Volume Reboot to Avoid Trade Frustrations
The year 2018 has been a roller coaster ride for traders. There are a lot of frustrating trades that even an experienced trader would pond on. But what good will these frustrations bring for the start of the year 2019?
In this post, we’ll share with you a few guides that will reboot your trading passion especially now when we’re welcoming the year 2019. What should be your next step towards rebooting your trading volume and mindset? Don’t worry we’ll list down the pointers you should keep in mind to continue moving forwards towards your trading success.
My trade results, my responsibility:
If you are to look for a person to blame in every losing trade you’ve made, we may suggest you set up that little-confused mind of yours. The point here is, what you’ve started must only be ended by you. You must remember that you as a trader is 100% responsible for every trade outcome you have.
You might have a lot of things to blame onto right now, but are they the ones whose responsible for your trade? Let’s list down a few of those you might blame:
(a) My broker is running your stops – Why let him/her? It’s your money, my friend. At the end of the day you are the one to decide, never forget that bottom line.
(b) My day job – Let us tell you this frankly and simple; create a part-time trading routine management.
(c) My trading course/mentor is not teaching the right strategy – Again these matters will still depend on your decision at the end of each day. Choose the right mentor/course for you that will guide you towards success.
Hope you get the main idea of this first point we’ve wanted you to keep in mind. Every step of your trading performance will always be your responsibility, despite the fact that there are a lot of factors included.
Take note of my own trading strategies
Either your a beginner, an advanced or experienced trader, take note of your trading strategy. Most of the trading beginners nowadays depend so much on their YouTube teachers without even taking notes of the trade results they’ve had and the analysis of the process.
The main point is, online trading similar with other things existing in our world is dynamic. They do change from time to time and sticking on a single tutorial you’ve parroted somewhere online isn’t a great choice you’ve made as a trader.
There’s nothing wrong with watching an online trader video. Our main point is timeliness on how trading works is very much necessary in order to win.
Choosing the right strategy in the right trading scenario
In connection with the second point, your note will help you analyze the right time for a strategy to be applied. There are a ton of trading strategy to be used, and there are critical scenarios to come. Look into it and find the most appropriate strategy where you could give you the edge.
But in order to make the winning decision in a critical scenario, you’ll need experience and a lot of trading notes (badly). Backtest your trading strategies and keep track of both, the good ones and the bad ones. Take time to analyze their outcome and see which will bring you towards a greater good.
Flexibility and adaptability
Upon refreshing the first three points, soon learning to adapt in the trading environment is important. As we’ve said, trading is dynamic. The best counterattack on that is making your trading strategy and decisions flexible in its environment.
There are a total of three possible outcomes in every trade – to win, to lose, or in-between. But remember all either of those outcomes, you’ll still take home learning experiences.
Anytime soon, when you’re ready to restart, recreate or reboot your trading passion, keep all of the pointers we’ve shared with you in this post.
Trading is never easy. But a willingness to develop yourself as a trader will bring you towards your greatest goal.