Quote from: pawanjain on February 09, 2019, 08:13:03 AM

Quote from: steve57 on December 19, 2018, 11:45:01 AM

hi traders i am sharing my mistakes and experience so that it will help you

here are the mistakes i did and the with experience i got answers to my mistakes

1) dont (care or think) too much about your money while trading this will reduce your confidence and make our decisions to reverse
and put money which you dont need

2) learn about money management (i know you might have heard about this many times , this is a huge topic to explain )
in short

remember trading and investing is a business, you have to risk something to gain something ,
so here is what you can do , risk is in your hand and you dont know how much rewards you will get so all you can do is control your risk , so calculate your risks and then enter trades and wait with patience

at first your goal must be to protect your capital , and then protect your profits , dont risk everything

3) Do not get panic by watching others analysis , remember panic is not good for trading, be confident with your analysis

4) if you have got good profits then keep it as a back up capital , when there are bad days if you lose your capital this back up capital will help you

5) dont trade if markets are too much volatile , no trade is also a trade , relax on that days watch some comedy films

6) dont ever think to recover your losses , or trade against

7) if you have entered trade by calculating risk then dont exit in middle wait for your targets , fluctuations are common

8 ) one of my friend told me this --- to keep track of trades
like why we lost that trade , why that trade reached its target,keep a record of this and just go through this when you are free trust me it will help too much

9) everyday you will not be profitable so set a limit for loss everyday if it is reached than stop trading ( i have lost money before without doing this )

10) If your finger is stuck somewhere, in real life you must think to get your finger out of there , but in trading if your finger(trade) is stuck then you must cut it and get out of that trade, because in trading finger(capital) grows back ( this i learnt by watching psychology videos )

11) I know many of you have heard this points before , but remember until you dont put your personal interest and do trading by following rules nothing will change
and success is not easy we must work-hard to achieve it

12) i am sure if you follow this rules you will see changes in your trading ,

if any experienced traders do have some points that will help traders please highlight it

13)But remember, never put your eggs in one basket, this way even if one of your investments is on a down trend, you can still recover the loss from another investment. This point by (nydiacaskey01)

Well, these are some well known tips that you shared from your own perspective. I would like to know how many of these tips do you follow when you trade.
Also, the amount of losses you incurred when you didn't follow these tips and the substantial gains when you followed these tips.
The comparison of such amounts can really boos t the confidence of our fellow traders.

Yes above discussion is really good and it will help us because it is about protection about saving capital, about investing and holding, all about ideas to become good trader so thats really satisfying that how nicely people are sharing good stuff and helping newbies to become good trading and not to be in lose at early stages of trading so really appreciate it.