DISCIPLINE : ESSENTIALS OF A SUCCESSFUL TRADER

To become a Successful Day Trader you should become a Disciplined Trader.

To become a Disciplined Day Trader you should possess the following qualities:

  • A Disciplined Trader will enter and exit a trade as per his Pre-defined Trading Plans and Strategies.
  • A Disciplined Trader will never have any un-realistic expectations and he knows that Day Trading is not a Get Rich Quick Scheme.
  • A Disciplined Trader knows that Day Trading is a Challenging Business which rewards only disciplined people.
  • A Disciplined Trader knows the importance of a Stop Loss in a day trading and fixes his stop before entering into each trade.
  • A Disciplined Trader never utilizes too much Multiple Exposures on his margin money.
  • A Disciplined Trader never puts all his money into trading. He regularly takes a portion of his profits and invests it in other secured investments.
  • A Disciplined Trader Never Averages his losses.
  • A Disciplined Trader Never Hold an intraday trade for next day.

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