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

Thanks OP, will be taking your advice. Your points of advice I would say are coming from many years of trading experience. May I ask how many years have you spent trading and how often do you trade, say, in a week/hours in a day?

I didn't really get your idea on the first point but on the second, I really see the importance and will be learning more about personal financial management. I will be reading and studying the wisdom behind the book "Rich Dad, Poor Dad" soon before this year ends.

Point (3) well taken coz I did experience being swayed by hype by focusing on price/trade discussions by people who I really don't know yet.

ayoubouni95

Posts

Merits