10 Great Tips in 2019 to Learn Stock Trading
Before you choose to trade you should know these 10 Stock Trading points. I m pretty sure you will be, Most successful in stock market trading.
1. Stock Trading is game of Probability – it means, Based on technical analysis courses online or offline when you trade 10 times you would be correct only 6 to 7 times, that means if you apply a method / a trading strategy it will be correct 6 to 7 or 8 times max, and rest of time you will be wrong to predicting market. This fact you should not only understand you should accept it also.
2. It’s not Gamble or casino – you cant be a millionaire in the stock market overnight, this can happen in a casino if you are lucky enough but not in the market, in trading you would be on the wrong side for sure 2 to 3 times out of 10.
3. Trading is not easy – trading is the toughest job in the world, it not easy or it is not a children’s game where anyone can win easily, you need to have very deep knowledge and strict discipline in applying your knowledge. Think you might have hard, in the stock market 90% of people are losing, why so? And the answer is very simple because of the fact that are not able to keep strict discipline or In other words, they are not able to keep emotional control. when the price goes against them or in their favor both condition gives a strong emotional feeling or greed or fear, when price moves in their favor they booked profit early and when the price goes opposite, they are not able to cut the losses and This is why it is difficult because it has an emotional element.
4. Knowing something is different than applying – I mean to say many traders have good knowledge or very good strategy but still not able to make money because they are not able to apply it with proper discipline what is required. When there is a time to apply the method they don’t. So there is no use of their knowledge if they can’t apply it when it is required.
5. The strategy – it means there are hundreds of good strategy freely available but still people lose money because people believe that, the strategy they have is not good Because of 2 or 3 consecutive losses, but in real sense, strategy doesn’t require to make money it’s you And you’re mind’s control and discipline in trading required to make money.
6. Using a method/strategy – That means you should choose right strategy according to your Personality and available time .if you don’t have a time and you choose intraday trading then for sure you are going to fail because you won’t be available to grab each possible opportunity during the whole day .so in this case, you should choose for swing trading where you require a limited time every day.
7. Money management – this is something highly important in order to be successful in stock market trading it means you should know how much money you should put in each trade and how much percent of your capital you should take a Loss, if you incorrectly choose to stop loss then, even with good accuracy strategy you will be in net Loss.
8. Trading is not an event, it’s a Process – that means if you trade today and you made Loss, the second day again you trade and you have loss and 3rd day you don’t trade because of fear or emotional burden and that day you might have higher chances to win so whatever method or strategy you follow, keep it regularly for minimum 3 months And this is pretty sure you will be in profit.
9. Intraday trading – this is the most difficult and Experience requiring trading, Beginners to market should not choose intraday trading, or trade on paper for at least one month, no matter whatever strategy you apply.
10. Automatic buy sell software – there are plenty of automatic buys sell software available but there is a bitter reality of them they are not meant or designed to be profitable they are designed for sale by someone do you think if they were profitable then why someone selling such an automatic machine to you.