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The mindset of stock investing and trading is totally different in the sense that stocks are for the long-term and trading can be for the short-term to medium-term. Clarity should be there in trading in the sense that you should be clear when to enter or exit your trade. Always have an exit strategy and believe in your guts if you have done proper research.
Please don’t go on the facts and figures provided by others as they might be of no use to you but for them, it may be beneficial.
In fact, more than 90% of the traders lose money in the long run. This may be because they give up too soon to notice any big changes or they don’t do proper technical analysis before going into a trade. Another major reason can be their mindset for trading, you need to have a heart of stone to see your money go and come back in a trade.
More than the set up your mindset is important, not just in trading but in every other field you go. If you want to win the war then you need to lose some battles in the beginning and you have to let go of the things that break your motivation even if that proves to be beneficial in the short term.
For stock market investing or investing in stocks financial analysis is needed but for trading technical analysis is needed. This is the basic and primary difference between the two.
There may be a hundred ways you can lose money in a single trade but there is only one way in which you can make a lot more money than expected, these all come from experience and the courage to see your money go in a second. If you just hang around for a little while and see how the setup and the money works in the stock market you can be a successful trader one day, only if you believe.
Even before entering a trade, you should be clear about the things you should be doing in a panic situation and how you will be handling the unexpected nature of the market. Whatever you do in this world you are trading set up our minds it cannot be correct and 70% of the time the rest percentage is the key aspect that you need to focus on.
In order to actually make money in the trading world, you have to keep a check on your finances, your profit and loss statements among your other things. Don’t trade to achieve too much only trade to achieve your set goals for that trade.
In the end, I would like to conclude by saying only one thing, trust yourself more than anyone else because this is the least that we can do if we want to encourage self-encouragement in us so that we become confident enough to do whatever we want to achieve through the power of today’s economy.
Join my telegram channel to know more about trading in-general and to get profitable trading calls every working day: https://t.me/TRDing11
