Money Management
I have recently noticed that you have reduced you trading activity and you are hardly opening positions. Even though you recently encountered some loses on your account, you shouldn’t let it reflect your trading capabilities. Most new traders quickly become discouraged due to a few losses, giving up on this potential market. To help you develop a strategy and allow you to overcome problems experienced by beginners, I have listed a few points below that I would advise you to take into consideration, especially as they helped me tremendously, when I first started to trade. STEP 1: Motivation and Determination Remember that all successful traders start from scratch. No one is born a trader and all novices go through a learning curve overcoming losing trades. The difference between a long term profitable trader and an unprofitable one is motivation and Determination. STEP 2: Get to Know your Strengths and Weaknesses When starting out, make a list of your strengths and weaknesses. F...