If you have any experience with trading or even if you don’t, here are some tips that I have learnt from one of the roughest schools in life. What school would that be? Why that would be from the school of hard knocks. Yup, the lessons learned were painful and expensive but the lesson got across very well. So hopefully, this report will save you the pain and financial lessons I had to endure.
If you have been trading or planning to start and have wiped out an account, don’t be disheartened. I know I pretty much wiped out a trading account when I first started, now I’ve developed a system where I make a consistent 100% annually. You see most of the successful traders we know have loss their entire account at least once before learning from their mistakes and start consistently turning over a profit on an annual (daily, weekly or monthly depending on your trading styles and goals) basis.
1. Don't open a trade just because it is cheap. The only reason to open a position is when the underlying security looks set up to make a decent move.
2.When you open a trade, start looking for signs that you were wrong. If you see them, then get out before your stop loss is executed.
3. Good trading should be boring, like doing the same thing over and over again. If there’s one thing I guarantee in trading, it’s that "thrill seekers" or adrenaline junkies get their accounts grounded into tiny bits and pieces.
4. Always be in control and aware of your own sea of emotions. Every trader’s downfall will come from not being able to control your emotions. If you are screaming at your computer screen, begging your stocks to move in your favor, you have to stop and ask yourself, "Is this rational?" Ease in. Ease out. Keep your stops. Don’t scream and shout.
5.The turning point of when amateur traders turn into professional traders is when they stop searching and hoping for the "next great technical indicator" and start managing their risk on each trade.
6. Trading is simple, but it isn’t easy. If you see yourself having a future in this industry, forget about "hope" and stick to your stop loss.
7. You are buying and trading on the emotions of other traders, not the actual stock. You have to be aware of the human psychology and emotions that constitute trading.
8. Always remember, trading is supposed to be a business. So treat it like one by not letting your emotions get in the way, stick to your stop loss.
9. If you come into trading with the idea of making “big money overnight,” you’re better wake up and smell the coffee. Most accounts have been blown because of this “account killer” mindset.
10. Beware of your number one enemy, yourself! If you start to get too excited, beware! As excitement clouds your judgment, it starts to increases your risk.
Cheers & Happy Trading!
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Thread: 10 Winning Investment Tips
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07-05-2007, 06:37 PM #1
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10 Winning Investment Tips
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30-07-2015, 11:59 AM #2
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I started doing binary trading last year and the best tips that I have found is discipline and patience, it is the way that leads to consistent profit, but it is not easy to be discipline in a market that involves so much money. I have found a greater teacher in FMbinary.com, it’s the best guide one can ever found and with them I have found great tips from their education section which helps me make regular profits especially due to the 85% payout!
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27-02-2017, 05:34 PM #3
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6 Investment Tips :
* Don't Chase a Hot Tip.
* Buy Damaged Stocks, Not Damaged Companies
* I try to buy stock in businesses that are so wonderful that an ***** can run them. Because sooner or later, one will.
* Don’t get emotional.
* Never compromise on business quality
* Do research before making your first investment
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13-04-2017, 01:51 PM #4
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above explained is true..
Don't open a trade just because it is cheap.
this is the most important in investment
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20-04-2019, 09:08 PM #5
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Thank you! I read the article with interest.
Always be in control and aware of your own sea of emotions. Every trader’s downfall will come from not being able to control your emotions. If you are screaming at your computer screen, begging your stocks to move in your favor, you have to stop and ask yourself, "Is this rational?" Ease in. Ease out. Keep your stops. Don’t scream and shout.
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