- Are you trading because you want to trade? Consider trading a business not a game.
- Are you not trading? This is the opposite of trading too often. You may be so scared of taking a loss that you avoid trading altogether.
- If you get stopped out of several stocks, walk away.Paper trade until the profits return.
- Follow the system.Would you be making more money if you followed your trading signals? Understand why you’re ignoring the signals you receive.
- Don’t overtrade.Sometimes the best place for cash is in the bank. You don’t HAVE to trade.
- Learn from mistakes. Review your trades periodically. It’ll uncover bad habits.
- Focus on the positive. The loss your suffered today pales to the killing you made last week.
- Ignore profits. If you find yourself getting nervous about a winning trade or making too much money, then concentrate not on the bottom line but on improving your trading skills. Get used to making too much money.
- Obey your trading signals. Otherwise, what are you trading for? Plan your trade and trade your plan.
- Don’t trade when you’re upset.This also goes for being too excited.
- Abandoning a winning system. Don’t become bored with your winning system and search for new, more exciting ways to lose money.
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