It is necessary to modify, conquer and solidify the past trading practices and attitude, so as to enable many to operate for a long time in a profitable mode. In a trading process, one trade is one trade only, win or lose, you must move on to the next trade. Each trader in his own way must develop the ability to keep going. If you had failure in the past, still you have to trade for the success. Each trader must develop personal risk management skills and must learn to deal with uncertainty.
Successful trader clearly designs the trading plan, which is of utmost importance. The trading plan should have the terms like what we want to buy, when we want to buy, why we want to buy, when to get profits, when to control the losses, etc.
Successful traders are controlled emotionally, once they start trading they forget the position of trade until they meet their contingency.
Successful traders take a longer term view. They develop their own system to generate premiums on a consistent basis. The trader believes in following his system and compounding his money.
Successful traders expect to become rich. When you expect better returns than others, you need to work hard for it.
Successful trader make things happen. He goes after what he wants. Finally, remember that you have nothing to lose. Give as a try, take every step which will turn trading around and become one of the successful trader.
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