The Universal Principles of Successful Trading
Over many years of trading, I've found certain principles to be true. Whenever I find myself under stress, when market whipsaw me, I pull out these basic trading principles and review them.
Don't Try to Predict the Future
When I started trading I used to think that there were experts and geniuses out there who knew what was going to happen in the markets. I thought that these traders and market gurus were successful because they had figured out how to predict the markets. The hard truth about trading is Predict and Perish. As a trader I will make money when I take trade as per my trading system not when I predict what is going to happen in future. It might happen, It might not happen, but if you get in vicious circle of prediction and trading you will be never able to succeed in long term. Its your discipline and risk management which will decide your fate as trader.
No one knows where the market is going
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Don't Try to Predict the Future
When I started trading I used to think that there were experts and geniuses out there who knew what was going to happen in the markets. I thought that these traders and market gurus were successful because they had figured out how to predict the markets. The hard truth about trading is Predict and Perish. As a trader I will make money when I take trade as per my trading system not when I predict what is going to happen in future. It might happen, It might not happen, but if you get in vicious circle of prediction and trading you will be never able to succeed in long term. Its your discipline and risk management which will decide your fate as trader.
No one knows where the market is going
Continue Reading
posted by Bramesh at
5:02 PM
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