Post
Topic
Board Trading Discussion
Re: Trading tips that helpfull for beginners
by
tjtonmoy
on 16/07/2023, 21:41:11 UTC
~snip
I guess you can also add "Do not overtrade" and "Do not go after losses".

You need to know when to stop. If you keep on trading thinking the more you do the more you'll learn, in that process you won't learn anything. You will make a huge loss if you are a newbie by doing this. In the end, you will be left with nothing to trade with.
So, take a break every now and then. Analyze your past trades and try to figure out where they went wrong or right. Also, our brain needs time to process everything. If you overtrade, you will fill your brain with more information that the brain will be unable to process at once. And you will learn literally nothing. So in order to be successful in the long term, you should avoid this.

Not going after losses is also very essential to become a good trader. Don't get emotional about the fact that you need to win back what you just lost. What's gone is gone. Forget the past but take lessons from it. Move on to the new one. Regret will hold you back in the past and won't allow you to live your present or see your future.

Risk management could also be added here. It is best to practice risk management from the early stages. It will bring confidence and less error in future trades.