10 Trading Guidelines To Avoid Losses

Category: Finance

Hard work versus efficient work: Work ethic is irrelevant. You can put forth all your effort and still not be wealthy. So being wealthy requires just a hard effort. Knowing what to do, when to do it, and who to do it with can help you become wealthy. Understanding is key. When you do, the next step is to execute the path, which will undoubtedly need a lot of effort. However, as we can see, the effort is inherent in how the path or destination is carried out. Doing the difficult task for its own sake would be a waste of time, therefore refrain from doing it. The Understanding: Developing this talent requires you to be a lifelong learner. And it's okay to feel puzzled during learning sessions. Your brain is being "trained" because it is like a muscle. For acquiring and comprehending new knowledge, it is essential to have a solid foundation of "axioms" based on the whole truth. Therefore, while creating the "axioms," be sure to only use credible sources of information. How do we ensure that our foundation is strong? In trading, simplicity always performs better than complexity. Price action traders have beaten out traders that have numerous indicators on their charts, in my experience.