This article is basically for those who are on losing track in the share market in the present condition. Everybody lose money in the market in some or other way at different times , it is just a part of life of all traders.
But if you are losing money on continue basis which you are not comfortable in losing then you must find what’s wrong with your trade before it harms you in more severe way.
So today’s article will probably help you to stop losing money from the market.
Be Master in Training Your Mind.
Most of the traders lose money because of their foolish mistake i.e. being emotional with the market as emotional trading requires no rules to follow comparing with disciplined training.
The market gives straight away two offers to the trader they are as follows
To take trading emotionally and end up with empty accounts by going through ups and downs of the market without using mind.
The second opportunity market gives is that you need to master your mind in trading more accurately and in a disciplined way to make progress slowly steadily in trading.
The best ways to master your mind for disciplined trading are , understand about proper money management skill and apply them to master your mind.
Do not ever risk too much amount of money in the market because it will indirectly increase your affection towards the market and trade emotionally.
So once if you will lose the trade you will be totally frustrated, angry, stressed and will become emotional to try to regain that lost money from the market.
Another thing which causes to lose money is entering in number of trades at a time , when I say them that I enter only one trade a week and only few weeks two-three trades they give me a shocking look, but it’s really true.
Because involving in many trades at a time is only over-trading, this is a type of gambling in the market. It happens due to spending more time in market.
So these points are very important while trading whereas the most difficult thing is to train your mind accordingly to think in that manner.
Maintain a Proper Trading Plan and a Trading Journal to Focus Your Mind.
The importance of having trading plan before you enter the market is very crucial step in trading. It will help you to guide for searching proper trading setups , managing risk to reward ratio allotting stop loss etc , which will help your mind to be focused and not to enter in stupid or low probability trades.
Another thing which you need to maintain is having a trading journal i.e. one kind of book in which you can write about your every day’s trade. It will help you to identify your trading ability over a period of time.
It will also help you to maintain a rough estimation of your account. By doing this you can easily judge whether you are following the rules of trading or not. But many of the traders fail to update their journal regularly , so that should not be a case with you.
Become Master in One Trading Strategy at a Time.
First try to understand only one strategy at a time , apply it in a market and if you find comfortable with it i.e. if it gives you a good results consistently within a short period of time then only go for another strategy.
Mastering in one strategy at a time helps you to understand deeply about the strategy , considering all the aspects of trading.
Trade Patiently and Effectively.
Most of the traders fail to apply the strategy in the market. Many of the traders don’t maintain patience while getting involving in the trade and then blindly enters in the trade without any logic or thinking.
So choose only that trade in the market which you think most appropriate and which satisfy your trading strategy.
You should ananlyze the market rugularly on the daily and weekly and four hour time frames and just see whether you have a high probability trade setup or not.
Enter only in the market if you find high probabilty winning trade set up. You need to get master in finding high probability trade set ups.
This is possible by observing the markets regularly with passion and dedication. If you are interested how to find high probabilty trade set ups you can attend my price action course.
Happy Trading.
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