Ten Things New Traders Need to Quit Doing if they Want to Be Successful
- Quit trying to hit big home run trades that stress you out and make you watch every price tick all day and focus on a winning trading method.
- Risk a little to make a lot and stop risking a lot to make a little.
- Quit giving back all your profits in one big trade gone bad.
- Trade what you know and quit trading things you know little about.
- Quit asking for trades from other traders and go back to writing your own trading plan.
- Quit being stubborn about your opinions and flexible with your stops. You need to be flexible with your opinions and stubbornly take your stop losses when they are hit.
- Quit being bullish in a down trend and bearish in an up trend.
- Quit buying break outs in a range bound market.
- Quit taking trades when their are no good entries, learn to quit trading at the wrong time and start waiting until the right time.
- Quit worrying about being right all the time and start worrying about making money over the long term.
