19 Nov How to be profitable in trading?
Do you want to be profitable in trading? Today I will teach you 4 essential tips or basic ideas to be a profitable trader and enjoy the process.
Do you want to be profitable? Give it a little time!
Some will put their hands to their heads and sayif it is impossible to be profitable in trading in a short time! ¡EFFECTIVELY, in a short time!
Trading is a long-distance race and it’s about being good for a long time. It’s not about being the best trader of the world only one day, therefore, spend little time on the screens. hours are more important quality that amount of hours we dedicate to trading.
It is better that you dedicate an hour a day to it every day of your life, the ones that you think are efficient without getting out of control or losing concentration because there you are profitable. You are going to arrive earlier with quality hours continually doing the right thing that if you get out of control and lose, it will also affect you emotionally.
You don’t have to do scalping like I do, I dedicate 40′ per session. If you swing trade you can spend even less time on it.
Limit losses if you want to be profitable
But how does this trading work? the markets are rigged! and an endless number of questions and affirmations you tell me.
First of all, you have no idea what the price is going to do, it is impossible to know, because it is going to move based on the supply and demand that exists at that moment and it can appear and disappear whenever it wants to. Therefore, the only thing left for you is to manage the risk.
Losing a lot one day and when you win, not taking the profit and leaving and not going for more is like limiting the profit and when we lose, we allow ourselves to lose a lot. We cannot have days of great losses and days of small profits. We must eliminate from the equation the variable losing a lot. Set those limits!
Have a profit target but be flexible on that profit
Third essential thing if you want to be profitable; have a profit target but be flexible on that profit.
What is it to be flexible?
How much do you like to earn? Between $200 and $300. The day that is costing you a lot and you are sweating because you start losing, recovering, losing, recovering…
The day you are operating and it is costing you a lot to reach that goal, you leave it. But the day you go smoothly and you reach that goal, you also have to know how to stop because you can win, win, win, and suddenly it goes wrong and you cannot be profitable.
And what happens in both situations?frustration! Set yourself some goals: – 200 or + 250 and it’s game there and leave it when you reach those limits.
Confidence in trading is achieved by earning
It is better that instead of all of a sudden you earn 300 dollars, that you earn 30 dollars every day because you are going to leave with your confidence through the roof.
It is important that you have stability. Little and every day but earning something is essential for your trading. Set a goal and be flexible with it.
The number of instruments and tools you use is not essential. If the tools improve your trading, use them, if not, go for the simplest.
In trading you have to focus on doing a few things right, but always right:
- know how to apply your trading plan well
- know how to manage risk well
- proper behavior management
- a good reading of the market
These 4 factors must be done very well if you want to be profitable. Is the base. It is not worth buying a system from another person if you do not know when it is applied and if on top of that you skip a rule and do not have good risk management, goodbye!
Therefore, it is very important that you always do these 4 factors well. If you only dedicate yourself to applying the system and improving it, you are only touching 1 of the 4 important factors.
Learn trading profitably
I hope you liked this video and you know, if you are not profitable with one account you will not be profitable with 5, so be very careful and risk management.
If you are looking to get started in the stock market, learn what trading is all about or expand your knowledge, I invite you to take the FREE trading course. A guaranteed training where the teacher operates in front of you and with profitability at an affordable price for everyone.
A serious basic training, with common sense and quality. Know the aspects that surround the world of trading and stock market operations.
If you have the basic knowledge but you are still not profitable, the unlimited trading course gives you access to the UNLIMITED time trading and to the newspaper library of the trading rooms
If you have more questions you can leave your comments here and I will solve them for you.