How to Trade Professionally...?
Trading professionally is not really a simple task, its difficult yet doable.
How to trade professionally...?
To trade professionally one should understand the pulse of markets and determine what a market is about to do next. The One important take away at this point is that market moves relative to its past (Every action in past and present Determines the path for future moves).
Few Dogmas For Trading professionally,
Never Look For Data releases and news (Because they do not move any markets and the authoritative hands are Only Traders and their Psychology moves the markets).
Understand the very important thing CHART is the only way of interaction between market and a trader. Therefore, it is significantly important for a trader to Identify Chart behaviour clues hidden in it (CHART ANALYSIS) where there are only two factors embedded in it ,
1. PRICE ACTION and
2. TIME.
Believe us that there are no more variables that a trader needs to analyse for identifying future moves.
Always have a perspective on markets (do not think of future alone Past & Present are Way more important Than FUTURE, because Future is anticipated but PAST & PRESENT are reliable).
DO NOT diverge your portfolio because too much divergence could make your attention scatter on different assets and your work may split. Therefore Make it simple...!!!! as already the market is complicated by itself.
No Group of People can hold or control markets ( Always go by the tide because market is bigger than anybody of us).
Understand that the Basics of market action is Only due to Very simple Yet Powerful factor, SUPPORT / RESISTANCE (incl.Static & dynamic S/R).
Be Friendly with numbers as we know market is full of MATH ( Have a deep insight for the numerical Relations).
Spend more time in analyzing markets and Less in worrying about your deals (if your analysis is perfect, there is no need for you to think about your deals).
Always be in touch with markets and Do not Trade based on ANYBODY's ADVISE (not the tip providers and any professionals).
Always Follow a method (it can be Elliott) Rather than indicators or some Worthless oscillators which does no good other than destroying your wealth.
Take away Emotions From Your Trading, Your Trading Should be disciplined (When you follow a Proper method, your emotions Won't cross your way).
Always be glad to accept few losses and identify your mistakes and make sure that the same is not repeated again.
Finally Hard work is Really essential and do your part best and let the market do the rest.
Happy trading....!