1. Always Use a Simple System
Create a simple trading plan, such as trading only on support and resistance levels.
Use fewer indicators – for example, just RSI and Moving Averages.
2. Don’t Forget Risk Management
Never risk more than 2% of your account on a single trade.
Always use a stop-loss.
3. Avoid Greed
Just 2–3 quality trades per day are enough.
If you’re facing continuous losses, stop trading and review your approach.
4. Study the Market Patiently
Make it a habit to watch charts for 15–30 minutes daily.
Backtest your system to see how it performed in the past.
5. Stay Aware of News Events
Don’t trade before major events like NFP, CPI, or FOMC.
These events bring high volatility, which can cause losses.
6. Maintain a Trading Journal
Record every trade: why you entered, when, and what the outcome was.
This habit helps you learn and improve consistently.
7. Control Your Emotions
Never trade in anger or overexcitement.
Discipline is the mark of a successful trader.