Natalie.Gin
Long

5 Tips That Will Help You Survive As A Day Trader:

FX:EURUSD   Euro Fx/U.S. Dollar
2141 18 154
1:Losing Streaks:

The brain does not like repetitive losing.
Be sure to stop trading after 3 losing trades in a raw!

2: Create a trading plan and stick to it.

Successful traders have a plan and they trade nothing but the plan!

3:Manage your mood:

If you are ill, cranky, depressed, or sad, STAY AWAY FROM TRADING!.

4: Keep detailed records:

A trading log with self-assessments of your trading performance will pay dividends very quickly.
knowledge is power!

5:Have adequate risk capital.

Your trading capital should not consist of money you need to pay bills             or money that you have committed to other investments like your home or retirement funds.

Related Ideas

DeepakSharma
a year ago
Really Appreciate your suggestions.
+1 Reply
luce878
a year ago
Thank you for your post.
I would also add: "Never trade money you can't afford to loose"
Reply
Lanmar PRO
a year ago
Rule 1... I'm sorry but this is poor advise. If the 4th trade is the elephant in the room that you miss then your expectancy is skewed. You never know when your streaks will end. Cannot time them based on your emotions. To counter your suggestion for rule 1, I'd consider employing less risk as you consistently lose until you streak ends. Otherwise, good advice.
+2 Reply
Stop trading after 3 losses is not a good advice. Keep trading your plan after 3 losses is a better one.
+1 Reply
hotshot_trader
a year ago
Duh
Reply
Incredible!!! Great chart!
Reply
ricardosway8
a year ago
well said and properly explained.
Reply
Banker928
a year ago
lol.
Reply
ForexTrader3f
a year ago
Nice Suggestions..will help me a lot..can u give one trading plan ? i write long mail to you but I just sign up so i can't send it before 5 hours..so i think I should comment..
Reply
kiross
a year ago
Comments on point 03: If you plan to manage your emotions instead of your trades, STOP TRADING. If you plan to work around your emotions instead and manage your trades only, START TRADING!
Reply
VRShaiju
a year ago
Thank You. Now it's the time to showcase the rules in the chart with Live account :). Please Share
Reply
catalin83
a year ago
That is a good advice
Reply
chrisj PRO
a year ago
Brilliant, thank you!
Reply
TheBlanco951
a year ago
Female traders tend to know better than male traders. No Ego.
Reply
Natalie.Gin TheBlanco951
a year ago
hahaha I wish!
Reply
TheBlanco951 Natalie.Gin
a year ago
Are you a rockstar trader?
+1 Reply
Natalie.Gin TheBlanco951
a year ago
for sure!
Reply
asmam964
9 months ago
very useful
for new traders.
Reply
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