How to prevent losses in Trading

Are you tired on losses in intraday trading ? Then follow these steps

1. Trading is not investment. Remember the charts and forget the press releases.

2. There is no secret trading formula, other than solid risk management. So stop looking for it.

3. It’s your money at stake, not theirs. Do your own analysis, regardless of the information source.

4. Concentrate on playing the game well, and don’t worry about making money.

5. Profits aren’t booked until the trade is closed. The market gives and the market takes away with great fury.

6. Remember the reasons you took the trade in the first place, and don’t get blinded by volatility.

7. Some time Common sense is more valuable than a complex set of indications.

8. Avoid acting on messages, flashes and financial TV. Your judgment may be more correct than all of them put together.

9. Trading is never a game of catch-up. Every position must stand on its merits. Take your loss with composure, and take the next trade with absolute discipline.

10. Overpriced software won’t help you trade like a professional . Pretty colors and flashing lights make you a faster trader, not a better one.

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