When you trade, know why you are trading that position. You can listen to others, and remember that you are the ultimate decision maker.

I remember a client of mine who is very brilliant; he knew why he was getting into a trade. Then he would trust others much more than himself, and as a result, he would change his mind and would lose. Needless to say, he has learned to trust himself and develop his mental edge. I am very happy to say that these days he is doing very well.

What are the key points for keeping your own perspective?

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  • Believe in yourself.
  • Know your strategies.
  • Know your entry and exit points.
  • Be cognizant of who or what news sources you listen to.
  • Be aware of who you surround yourself with.