What's the most important trading lesson that you learned this year?
Dear All
Let us analyse what is the most important lesson you learnt in trading this year,
For me the most important lessons were
1) Don't deviate from your trading plan and system.
2) Don't over leverage, live to fight another day by preserving your capital.
3) Before placing your trade check all the higher time frames for the predominant trend.
4) Always book profits.Even book partial profits.Take something off the table.
5) Admit your mistake and get out of a wrong trade with minimal losses.
6) On a flat trading day, do not over trade to get back your losses, they just multiply.
7) Do not randomly trade in any stock.Only trade the stocks you are comfortable with in terms of liquidity,price,risk,volatility,etc.
8) Once you make a good profit, take the rest of the day off.Many times earned profit is lost by over trading.
9) If going through a string of losses, take a break of at least a week to get things in the right perspective.
10) Spend quality time with your family, you never realize what you have missed when your children grow up.
Dear All
Let us analyse what is the most important lesson you learnt in trading this year,
For me the most important lessons were
1) Don't deviate from your trading plan and system.
2) Don't over leverage, live to fight another day by preserving your capital.
3) Before placing your trade check all the higher time frames for the predominant trend.
4) Always book profits.Even book partial profits.Take something off the table.
5) Admit your mistake and get out of a wrong trade with minimal losses.
6) On a flat trading day, do not over trade to get back your losses, they just multiply.
7) Do not randomly trade in any stock.Only trade the stocks you are comfortable with in terms of liquidity,price,risk,volatility,etc.
8) Once you make a good profit, take the rest of the day off.Many times earned profit is lost by over trading.
9) If going through a string of losses, take a break of at least a week to get things in the right perspective.
10) Spend quality time with your family, you never realize what you have missed when your children grow up.