Your job as a trader is to manage risk, and this teaches you that failure isn't that scary after all ―
it's often a springboard to success.
Always be in synch with the general stock market. Be long when it goes up, be short or in cash when it goes down.
Having the wind on your back increases the chance to make money dramatically.
Before initiating your trade, you need to know what you stand to win and what you stand to lose.
If at any point this is unclear, then the trade isn't worth it.
The fastest way to bankruptcy:
– No edge with your trading approach
– Trade in with a high frequency That's why the most short term trader go bankrupt so quick.
Make sure you have a repeatable edge before you think to trade more often.