Have a plan to be successful in the world of competition. I use my time 7 am to 8 am to read news from the top financial portals. News is the base for the result that market gives us back. Either the bull wins or the bear wins end of the day. If you don’t prepare and be more enthusiastic, you definitely lose the day’s gift. Lot of traders never trade in less quantity and worry about the bad trades they made on Friday. Avoid thinking about the past, it always a lesson not to do again.
To gain confidence, one way is to invest less money and keep reading the charts. In the technical world of stock market, it is always about support and resistance. Volume determines the way where the market goes. Once you practice the stock trading with minimum credit in your account, then you can’t succeed. Practice one rule a day and end of the 30th day, you are an expert. It’s all about practice, the top experts never see the chart for more than 15 minutes. if you are looking for the best books on stock market, then click here
Plan a day to make only 3 trades, which can fetch you a lot of money. Trade in a way that you can make enough money for the week or month. If I make one successful trade, I call it a week and move to my other software or freelancer projects. Never keep staring the monitor for gains; you can never be successful if you keep glued yourself to the monitor. I suggest you read a book from amazon by robin sharma, you can find here
The book gives you the step by step guide on how to be successful! Success doesn’t mean only money making, it means a lot than just money. So turn around and look out for the stars because there are plenty of opportunities. The steps in the book develop the confidence to make things happen. Confidence is misunderstood as a small word but it comes from talent, Hard-work, patience, perseverance, practice. One day is not enough to make you a pro at a skill, it takes lot of practice. Traders also must train themselves to be an expert in making returns every month.
Work on the math, work on how much money you want to learn. Set your targets and set your stoploss. Don’t worry if you hit the stop-loss, it’s just an experience which you learnt from losing money. Put the money which you have after saving every month. Stock trading is a temporary/part time activity; this is never a substitute for a full time job/business. Keep things to run parallel, which gives you passive income but never be greedy. It is good to sell a stock which would go higher in the day rather than keeping a stock in loss, thinking it would make profits. Read another book “Rich DAD poor DAD” available on amazon.