Build Positive Feedback Loops  A positive feedback loop is created as a result of a well-executed trade in accordance with your plan. When you plan a trade and execute it well, you form a positive feedback pattern. Success breeds success, which…

Focus on Your Trades and Learn to Love Small Losses  Once you have funded your account, the most important thing to remember is your money is at risk. Therefore, your money should not be needed for regular living expenses. Think…

Calculate Your Expectancy  Expectancy is the formula you use to determine how reliable your system is. You should go back in time and measure all your trades that were winners versus losers, then determine how profitable your winning trades were…

Choose Your Entry and Exit Timeframe Carefully  Many traders get confused by conflicting information that occurs when looking at charts in different timeframes. What shows up as a buying opportunity on a weekly chart could, in fact, show up as a sell…

Choose a Methodology and Be Consistent in Its Application  Before you enter any market as a trader, you need to have some idea of how you will make decisions to execute your trades. You must know what information you will…

Choose a Broker Who Offers an Appropriate Trading Platform  Choosing a reputable broker is of paramount importance and spending time researching the differences between brokers will be very helpful. You must know each broker’s policies and how he or she goes…

Define Your Goals and Choose a Compatible Trading Style  Before you set out on any journey, it is imperative to have some idea of your destination and how you will get there. Consequently, it is imperative to have clear goals in mind, then…