Trading is not just about selling and buying. It’s not about gambling your money just so you can earn high profits when your timing is good. For the first time and existing traders, you must learn that good strategies build up your performance in the market. Without your solid tactics, you won’t be able to time the market when it’s good to buy and when it’s good to sell. Without a plan, your gambling your money without the assurance that you will win. Though there are cases that you will lose, the end-goal why you’re trading right now is to win big. Building your strategies in trading is a must and you must always remember that. So, how do you really stick to your trading plans?
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
Stock Smarts Manila — June 15, 16, 22, 23, & 29, 2019
Stock Smarts Iloilo – July 6 & 7, 2019
Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019
For starters, before you venture into trading, remember that it requires you to exert more effort and spend more time planning than what you are doing when you are investing. Before you trade, make sure you have a solid plan on what to do when you are losing and when you are winning. But in order to construct your plan, you have to study and learn about the fundamentals and anything that comes with it. Once you have a good foundation and plan where you can stick to, that’s the only time you can start your trading experience. Never do something you are not aware of. And of course, during the trading, you will have moments where you need to change your plans from the beginning because of some variables that you need to consider.
You won’t be able to earn without discipline. That’s the first thing you have to possess if you really want to pursue trading. If you’re wondering where you can build up your discipline in the stock market, try learning to invest in stocks first so you would have an experience when to hold your stocks and when to sell it because as you can observe the selling and buying in trading is faster than in investing. You should keep it as a reminder to have the discipline to hold your position until the sell signal comes out. Don’t sell your stocks yet just because you saw it in its profitable state.
Discipline comes with patience. Embed that in your mind. Discipline without patience will do you nothing but losses. When trading, don’t sell too early when it’s profitable and don’t hold too long when the stocks are not good. You should have the patience to wait until the time that it’s best to sell your stocks already. Also, to be able to stick to your trading plan, have the patience to wait until your plan is fully crafted. You don’t actually have to refresh your monitor every minute and transact every time. Money is in discipline and patience.