Tags: control, emotions, points, trading
Categorised in: Earn Online
A lot of traders trade stocks without any plan and without any notion of risk. Here are 5 points you can work on as trader.
1. Control your trade risk. You should always know where is your stop loss when the trade is against you. Putting this stop will make it easy
to control how much you lose.
2. Control your account risk. You can divide your account into many positions. Each position has the same amount of money as the other positions.
This will help control your account risk in terms of balancing the positions. So all stocks are allocated the same amount of money.
3. Control your trading expenses. Many traders have never seen how much they pay for commissions of interest rate fee from margin. This is too bad.
The best thing you can do to control your expenses is to make a plan for how much you pay each month. Understand that this money is cut always
from your account.
4. Plan your trade. A lot of traders have never planned anything in their trade. Planning a trade means you should know everything about your trade
like if the stock is suitable to buy, or is it a good stock to buy, what is my stop loss, how should I follow this stock, what is my stock goes
down, what if the stock goes up, where should I use my exit point. All these things will help in controlling your trade.
5. Always get some profits in the trend. sometimes you wait too much without using an exit plan to take profits. This will lead to lose big profits
if you dont take care of it on time.
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