This is probably the most important article regarding trading because this is where you'll learn how to achieve the goal: making money. Now, this might not be what you were expecting to read about because it won't necessarily be 'fun'. However, if you follow through on these tips, you'd assuredly get maximum profits.
When it comes to trading, you need to do what is best (generally) not what you think is best. Trade isn't 'the wheel of fortune' where you might go big or you might go home. Here, you can either go big if you have a good mindset or you'll go home.
Wider Stop Losses
The most rookie mistake you can ever make at trading is placing a stop loss within the markets daily range. This might seem like a good idea but it isn't. Stops need a wider margin. If you just do what looks best in the moment you're practically handing money away.
What's keeping you from following this simple rule is the fear of reducing your position size. Rest assure, this isn't a bad thing. Thinking about trade as a game of logics rather than as a game of chance can allow you to have a better track record i.e more funding.
Don't think of wider stop losses as 'messing up your game', if you want to make it big then you need to realise that your reputation is key. Even if you aren't as experienced but in your performance review scored bigger than you'll be big. Ultimately, not getting too overly emotional.
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