Things Traders Need to Quit, if they want to make money.
- The best way to make money is to risk a little and not risk a lot.
- Stop giving back all your money in one bad trade.
- You should only trade things you know how to trade.
- People who ask other traders for trades should stop and start writing their own trading plan.
- Make sure you don’t hold on to your opinions and don’t be rigid with your stops. You need to be able to change your mind and not be afraid to take your losses when they happen.
- Stop being bullish when the market is going down and bearish when the market is going up.
- You should stop buying break outs in a range bound market.
- When there aren’t any good trades, stop taking them and start waiting for the right time to trade.
- Stop worrying about being right all the time and start worrying about making money in the long run. This is what you should do.
These Things Traders Need to Quit As Soon As Possible.