Thursday, January 7

Before Taking Trades Check your state of mind

Self-awareness

Self-awareness is a character trait that is important for being successful, not only as a trader, but in life in general. Self-awareness means that you are aware of yourself. This can include your strengths and weaknesses or your current state of mind and your emotional status.
Daily self-awareness and the ability to assess your current state of mind is important as a trader. Since being a trader means that you have to continually make decisions that can cost or make you money, and even result in major losses, making sure that you perform at your best level is important. However, most traders just see trading as a job where they HAVE TO sit in front of their desk from 9 to 4, regardless of how they feel.

Every morning, before you start up your trading platform, take some time to assess your current state of mind. The following points can serve as a guideline to evaluate yourself:

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