Trading is all about being discipline in following your specific strategy, that one wrong move can bring disaster to your trading account, so I would like to point some do's and don'ts when you are into trading so that you can avoid the bad habits and implement the proper approach. All in the list are very vital to a trader's success and must be fully embed in your sub-conscious mind.
Do's:
1. Be discipline in following your strategy all the time
2. Always follow proper or appropriate risk management in your trading
3. Trust your system all the time
4. Let the market come to you
5. Be logical in making trading decision all the time
6. You must submit that market is always right
7. Stick to the rule all the time
8. Always trade on what you see not on what you think
9. Learn to accept loses, its part of trading
Don'ts:
1.Never ever adjust or remove your stop loss price
2.Never shift or used to an untested strategy
3.Never chase the market, there are always good trade setup to come
4.Never allow emotions to interfere in your actions
5.Never ever think that you can control or beat the market
6.Never force your entry,always wait for high probability trade setup
7.Never glued your eyes monitoring your trading chart
Having a good and battle tested strategy is important to succeed in trading but without discipline in implementing its trading rule all the time everything will still fail. Online trading is a 24 hour business but it does not mean that we have to trade the market all the time.
Happy Trading!
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