We are providing below 14 tips that can make you a better and a profitable trader for the life. The points are as enumerated below:
1) Trading in the stock market is a marathon.
2) Protecting your capital is key. (Learn to protect first)
3) Making 0 on the day is better than losing 50k
4) Losses happen, they are part of this business.
5) You are your biggest enemy, learn to be mentally disciplined.
6) Don't follow the majority, follow the correct path.
7) Traders without a stop loss end up not being traders for long.
8) There is always another trade.
9) The big money is made waiting for the right set-ups.
10) Waiting for the right trade is the most powerful strategy.
11) It is better to cut a loss than to wait to be proven right.
12) Position sizing can make or break you.
13) Worry about the downside before you even think about the upside.
14) Bonus: Learn from someone who has accomplished what you wish to.