We can generally find many qualities in successful traders, including discipline, patience, adaptability, independence, and mental toughness. You can work on several of them simultaneously, but one question remains — which one to prioritize? In other words, which quality should you cultivate the most to become successful at trading? Our answer is independent thinking. It’s Read More…
There is no doubt that risk management plays a vital role in trading; it arguably separates successful traders from unsuccessful ones. Incorporating risk management in trading helps to eliminate bad trading habits such as fear, greed, clinging to losing trades, etc., and helps prevent you from losing most if not all your trading capital. There Read More…
It’s no secret that trading can be a stressful endeavor. Regardless of how well you do your research, how great your strategy is, or how thoroughly you’ve analyzed the market, you’ll face tough decisions and may be prone to make mistakes in your trading. The good news is that that’s how you learn and improve. Read More…
Risk-on and risk-off trading conditions are fundamental elements of every financial market. They showcase the current market sentiment; in other words, it reveals the attitude and emotion of traders and investors toward particular markets or securities. The price of financial instruments may rise and fall due to economic factors, geopolitics, interest rate adjustments, inflation reports, Read More…
There are two primary schools of thought when it comes to trading – technical and fundamental trading. While technical trading focuses on analyzing price movements and predicting future price changes using historical data, fundamental trading focuses on using economic data and financial parameters to find new trading opportunities. Traders choose to direct their career and Read More…
Beginner traders do everything in their power to stick to the basics and follow every rule, recommendation, and piece of advice they come across while learning about trading. However, as time goes by and traders become more experienced, they slowly drift away and forget to stick with the basic trading rules that worked early on Read More…
If you talk to any trader or market expert about swing trading and day trading, they will probably tell you different things. Some of them have had more success with a particular style of trading and like it better. On the other hand, some traders are simply used to trading in a specific way and Read More…
Every successful trader follows a routine that helps them make the most of every trading day. A trading routine is a habit loop that enables you to get in the zone and make rational decisions – and it’s all about repetition. To quote famous philosopher Will Durant, “We are what we repeatedly do. Excellence, then, Read More…
To an untrained eye, high-performance traders may seem like divine entities who can turn a profit at the snap of their fingers. There’s an illusion that they never lose or have losses so insignificant that they never put a dent in their wallet. The truth is that even high-performance traders lose. They don’t have a Read More…
If you are in the business of trading financial instruments, you’ve probably heard this one before – the main difference between a successful and mediocre trader is a trading plan. But, of course, successful traders always have a comprehensive trading plan. Why is creating and having a trading plan so important? Can it make such Read More…
