Learn as much as you want about the markets, economic fundamentals, technical analysis, etc. Become a finely tuned machine for picking the exact turning point of a trend 9 times out of 10, but if you hold losers too long and cut winners too quickly then none of it matters...
The main focus of this discussion will be the psychology behind trading effectively, ie. cutting losers and riding winners, not the other way around. We hear it a million times (usually alongside "the trend is your friend"), fine ok, we know what we have to do, but how do we do it exactly? I challenge you to find an easy answer to this question, anywhere...
99% of traders have to overcome this mental blockage at some point or another, (that is if they're going to survive in this business for the long term), so don't be shy, if you can just share your past experiences or if you've been successful in your quest, what tips, tricks or resources can you share?
Lots more to follow...
The main focus of this discussion will be the psychology behind trading effectively, ie. cutting losers and riding winners, not the other way around. We hear it a million times (usually alongside "the trend is your friend"), fine ok, we know what we have to do, but how do we do it exactly? I challenge you to find an easy answer to this question, anywhere...
99% of traders have to overcome this mental blockage at some point or another, (that is if they're going to survive in this business for the long term), so don't be shy, if you can just share your past experiences or if you've been successful in your quest, what tips, tricks or resources can you share?
Lots more to follow...