Tuesday, 16 January 2018
3 Trading Resolutions Traders For 2018
Labels:
motivation
,
this is interesting
Comfort zone. That
is probably where many of us (traders) ended in 2017. With better-than-expected
economic reports contributing to stock rallies in the United States, Europe and
Asia, a tax reform that boosted financial components of the world’s top indexes.
And if that wasn’t
good enough, Bitcoin and other cryptocurrencies correcting to the downside from
all-time highs but leaving many with pockets full of cash on the way.
Last year was not
bad, not bad at all (in terms of trading). And 2018 seems to follow that same
trend. Since December, American stock indexes have added 13 percent, isn’t that
nice?
Now of course,
there are twelve difficult months ahead of us. But as a famous Spanish proverb
says “Who hits first, hits twice” and in this case those would be buyers.
Let’s face it: you
cannot make markets go up or down. Specially if you are a retail investor AND
you are wearing ugly flip flops while trading from your garage (and I know you
are). No long faces, you can still improve your trading. Just add these 3
resolutions to your New Year list:
1 - Set stop loss /
take profit orders
Setting stop loss /
take profit orders for your positions would significantly help you to manage
risk in a more effective, professional and responsible way. Remember that these
levels should not be too close to the real quote or otherwise your position
might get closed unnecessarily.
2 - Keep learning
Everything changes.
And very fast. To stay on top of the game you should keep learning about new
instruments, trends and ways to improve your strategy with an active approach.
3 - Be more
self-exigent
You were a total
beginner. Now you are not. If you have started trading three or more months
ago, then it’s time to say goodbye to your demo account and find yourself a real
account that would allow you to trade with a small capital. You
could even open a cent account.
Subscribe to:
Post Comments
(
Atom
)
No comments :
Post a Comment