LIVETRADING TIPS
HOW TO BECOME A SUCCESSFUL TRADER ON BOTH SPOT AND FUTURES (PART 2)
👉 LEARN WHEN TO TAKE PROFIT ON A TRADE - Some trader misunderstood the word patience, they tend to become unrealistic when it comes to trading. If their trade is already profitable, they still wait patiently for it to grow higher, only for them to see their profit getting erased. Remember to always take what the market gives you. If your trade hits a support or resistance and gets rejected, that is a signal to close your position.
👉 DO NOT OVER TRADE - When trading, use only 1-5% of your capital, and trade only for 1-3 times a day. You don't get rich overnight from trading, think of this as a long term growth.
👉 lastly, CONTINUE LEARNING THE MARKET WITH EXPERIENCE - Nothing beats someone who has years of experience from the market, remember, every losses is just a stepping stone to success. Make sure to make the most out of it. Review your trades, find out what went wrong, what you should and should not do in your next trade. Have the ability to adapt to the market.
That is all for now everyone, I hope you learned something from this. Have a profitable trading !!
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