How exactly to become a successful trader by practicing Tape reading? Which can get a lot of profit, which makes you always smile in front of your laptop screen? Three keys to successful trading are needed to become a successful trader, namely:
Knowing the Trading System
Experienced traders have a trading system that is truly mastered and trades according to that system. While novice traders only make transactions based on intuition and basic principles, buy when prices are low and sell when prices are high. The trading system is not clear either. To get the right trading system, you can read books, take part in trading seminars, or through trading blogs on the internet.
A disciplined attitude is needed to apply the trading system. Maybe the trading system is too complicated, not by the character of the trader, so no matter how good the trading system, there is no result.
Most trading systems have been proven to be profitable. But if it is not supported by a disciplined attitude all trading systems obtained will not succeed.
You can also make your trading system. But increase knowledge of the basic principles of technical analysis and fundamental analysis. And still coupled with a disciplined attitude.
Relating to emotional management. Namely the attitude of patience and discipline in controlling your emotions. These are 2 successful attitudes to achieve profit.
Trading that combines a trading system and the emotions of the trader. No matter how great you analyze a chart, if you are impatient and disciplined, the only loss will be gained.
Discipline, as mentioned above, can reinforce your trading system. With a disciplined attitude, you can trade according to the strategy you have, not with your emotions to make a decision.
Patience and discipline can overcome emotions from all unexpected aspects during trading.
Good Karma (Luck)
The last is your luck . Because it takes extra effort to make a profit. Business is also related to your intention. Good intentions naturally grow from a positive spirit. By learning from the experience of failure, you can improve your trading methods.
Every time you get a profit based on ability, effort, and good intentions (not greedy). Business and good intentions will give good feedback too. That’s the attraction.
A luck is only needed 1%.
The secret of a successful trader is not to have a large capital to survive the market. Money (capital) does not guarantee you become a successful trader. Becoming a successful trader requires a flying hour.