B2BX Exchange / Trading tips / 20 NO’s in Trading

20 NO’s in Trading

1.Do not trade on borrowed funds. 

Do not borrow from relatives, friends and business partners, do not take loans for trading on the stock exchange. Daily load that every month you need to give% and the market can not make a profit but will pull to the bottom. The psychological pressure of the lender will most likely not allow you to adequately perceive the situation in the market. You will constantly see in each chart a fictitious entry into the transaction, which will help to give credit. 

2. Do not trade in a bad mood and well-being. 

You quarreled with a loved one at work or just do not feel important, do not even open today schedules. Nothing good will come of this day. Trader, not a robot. It is extremely important for him to calm down, to make adequate, cold-blooded decisions, to enter into a deal.

3. Do not set specific goals in money or % profit for the day, month and year. 

I always say: how much the market will give, so much and take. And he gives every day in different ways. Come in and strike days, which can make a monthly profit of one transaction. But after such a trade is often a lull in the market, and you can not remove a tenth of the day. Specific monetary goals will confuse you. And is not very nice when, for example, $500 target is not reached just $10, You outlasted or tiltable and the day closed in the plus $50, and God forbid that would Happen… at 50% but there is barely a plus close when a long range. There is no middle digit at all. Therefore, there is one goal each month to close in the plus!!! And no matter what it is. 

4. Do not leave all profits in the account. 

If you get every month to close in plus – it’s just wonderful!!! But, still, it is necessary to withdraw a monthly part of the profit. It can be from 20-50% of income for a month or some other trading period. It is not necessary to spend all this money at once. Although the realization that the money earned in the stock market, I personally much more pleasant to spend than with other sources of income. They can simply be stored in a reliable currency in Your opinion, serve as a safety cushion for the future. Or reinvest in some business from the real sector. It is necessary to realize soberly that there can come such moment when you cease to understand the events in the market. They change!!! And as always, this is unexpected. Or your emotional state, problems from outside changed… and it will be very sad to merge the most part of the Deposit and the profit that was so hard earned for many months and was foolishly given to the market. 

5. Do not forget about the risks. 

6. Not to grow moose (set foot) I’m not going to convince You that to put always stop, it is 100% guarantee your success in trading, but very few people are mentally prepared to cut the loss, not the “grow your own giant moose” Risks, this is something you need in the first place to start when entering a position. The risks should be both for one transaction and for the day and for the month as a whole. When the loss limit is reached, taboo trading is done by the end of the day or by the end of the month. 

7. Do not average a losing position 

The same thing that delicious hay to feed the elk and hope that he’ll eat, turn around and walk away.

8. Not upset over the cover of the trade

Absolutely all traders are losing trades. That’s OK. The main thing that losses were small. Such losses should be treated in the same way as expenses in the business. You have not earned yet, but you already have such expenses as rent, salary, taxes, etc. 

9. Don’t listen to other people’s advice. 

Of course, you can listen to the forecasts of analysts, traders, office colleagues. But always remember that the decision is Yours. And the loss of money from the transaction, no you will not reimburse. 

10. Do not sit 12 hours at the charts. 
You from this will not be better to trade. A month or two of such sitting and watching the price move on the minute timeframe, of course, will give you some knowledge of this diva, how it moves so constantly up and down. Again, people are not robots and not computers. The equipment can be reloaded and it will continue to work as quickly and efficiently. And we begin to “slow down” and not quite adequately analyze the information when we spend a lot of time stationary at the workplace. A change of scenery, a walk in the fresh air, communication with people (not trading) is another type of activity… All this will only give you the opportunity to distract and then a more sober look to assess the situation in the market. Regularly give yourself a “reset”. For me personally, it is a SPORT!

11. Do not overtrade. 
If your trading strategy is to work within the day and you are not a scalper, put a clear number of transactions, based on the specifics of the market you are trading. More than this figure do not trade. Practice shows a large number of transactions, often brings less profit than a small, but high-quality and clear system. I personally can have up to 4 trades within a day. 

12. Do not enter into the transaction, if there is no signal.
Very often, traders want to constantly be in the market, in the transaction, even if there was no signal to enter the trading system. My opinion, unsystematic, chaotic trade, the path of nowhere, Or rather not a long way of trading on the stock exchange. You clearly and ALWAYS have to give yourself an answer to the question of why you went into the trade! 

13. Do not look at the variation in the process of trading. 
The larger your depot, the fluctuations in the values of variation profit will be stronger for you to act magically. System trading is the exit from the transaction, while achieving a specific purpose or when the signal at the output. But in no case when you reach around the figure for profit-taking. I have repeatedly observed the picture when traders were greedy and waited for a certain profit, and it did not reach a little and turned down. And they were extremely upset by the under-earned money. Therefore, it is better to admire the fixed profit at the end of the working day, so as not to take out your brains and regret the under-earned profit. 

14. Do not constantly switch timeframes during trading. 
Another common error new trader. Constantly within a day for a hundred times to change the timeframe on the charts. It is better to immediately determine for yourself 2-3 timeframes that you will constantly use when trading to understand the trend, the range of trade, more accurate entry into the transaction and the correct stop. Experiments inside the day with the rearrangement of the timeframe only confuse, because the picture at different time intervals can look very different. Still don’t understand why in Quick, there are 3, 6 or 20 minutes charts. 

15. Do not go completely into trading (live with profits only from trading) without a financial cushion or a stable other income.
The lack of funds for basic household expenses for half a year, or better a year, will also negatively put pressure on the psychological state of the trader that if I do not earn today in the market, tomorrow figuratively there will be nothing to eat. Hope that the market today will be trending and volatile is not worth it. Plus, not every day we earn, there are losses. Focusing just on the money, the adequacy of the decision-making disappears. Therefore, to have a small business or passive income is only welcome than all the secret money to put on a trading Deposit. You should always hedge risks or lack of profit from trading. 

16. Do not build illusions about trading.
Of course, of course, many came to trading in order to earn millions, buy a house, a cool car, a yacht, travel 10 times a year and… everyone has their own dreams and goals. Of course, you need to set goals, but if you have to Deposit $500, and you consider yourself a cool trader. And that you will be able to disperse the depot to $100k in a year for implementation of the desires, you will land back!!! Goals need to be set real. Plus, in trading, we can not know for sure when there will be a mega-trade or a mega-profitable month. And here is an important point not to drain your Deposit, just at the time when the market will give the opportunity to earn good money. 

17. Not to relax.
At this point, I mean, the market is constantly changing. Its volatility, movements, trends and other patterns, which brought you a stable profit even years ago, have now become ineffective. And in General, the market always wants you to take the money, not to let you earn. It is worth remembering this, even when you have a series of profitable trades or months. This may change at some point. 

18. You are right and the market WRONG!!! 
When I hear that I’m losing money because the market is bad, goes the wrong way, movement of the wrong that was, etc. I understand that the trader does not want to admit they were wrong, does not want to understand their own mistakes in trading. Therefore, he does not get to trade in plus. 

19. Do not forget about loved ones 🙂
Your life should not consist only of trading. Many at the beginning of their journey go headlong into the graphics, forgetting that there are close and beloved people for them. And friends and so don’t understand what this online business… them in your own way you can also understand. Here you can talk for a long time, but You yourself have to prioritize that one day would not be left without family, friends and no Deposit at the broken trough… they Will be able to help and support you in a difficult period. Connect with friends, find common topics of conversation, believe me, not everyone is interested to hear about Your not quite understand the work.