Quote from: retreat on Today at 04:20:30 AM

Quote from: Youngkhngdiddy on April 04, 2024, 02:32:39 PM

1. Do not overtrade, always allocate time for relaxing and purifying the mind.

Excessive trading is not good for a trader's finances and health. Because when a trader trades excessively, they will sacrifice their rest time by monitoring the market continuously and seeing how the charts keep moving in front of their monitor. This is not recommended for traders, because good traders are those who can manage their time by knowing when to trade and when to rest. By managing trading time and rest time, a trader can maintain a healthy balance between trading and their personal health in the long term.

One of the reasons why a trader is always required and advised to have a plan and put limits on his trading activity is to limit excessive activity, because it is a sure thing that when you are too long in front of the monitor analyzing the market then over time you will lose focus in yourself which will make you make careless decisions. Limits in trading are to limit the time of running sessions and limit the amount of budget allocated and of course the benefit of these limits is to keep our brains and minds awake and avoid some careless decisions due to too long analyzing the market that can make us lose focus.

On the other hand as you said that good traders are those who can organize and manage their trading activities which means knowing and having the ability and planning about when to row and when to pull over. Trading involves money where in trading the possibility of risk will always lurk a trader, and the fear is that when a trader is too long in front of the monitor then there is a possibility that they will lose focus in themselves due to being too tired in analyzing the market which ultimately makes them make the wrong decision.