Never be afraid of the market. Never be afraid to make a mistake. If you make mistakes, don't complicate things by trying to average out the position - just get out. Stay active in the marketplace. Don't just sit passively in front of a monitor or staring at graphs. Successful traders perform the same routine in analysis day after day. Develop your own routine that allows you to record periodic market parameters.
Don't be greedy. Nothing terrible if you lose some money. If you can't get in at a favorable price, forget about this deal and start looking for the next one. Finally, remember that a trader is a person who does all his own work, has his own game plan and makes his own decisions. It is only by acting and thinking independently that a trader can understand when a trade is not working. If you are ever tempted to get someone else's opinion on your trade, this is usually a sure sign that you should exit your position.
Don't be greedy. Nothing terrible if you lose some money. If you can't get in at a favorable price, forget about this deal and start looking for the next one. Finally, remember that a trader is a person who does all his own work, has his own game plan and makes his own decisions. It is only by acting and thinking independently that a trader can understand when a trade is not working. If you are ever tempted to get someone else's opinion on your trade, this is usually a sure sign that you should exit your position.
