In the world of trading, you can never say that you have studied everything or you are done with learning. No matter how much you learn, you would still have a lot to learn. If you think Singaporean traders have studied the market completely and they have nothing more, you are wrong! Even they have many things to learn. Actually, trading isn’t like other careers. It is really different and creative. You would have to create a new trading method, strategy and so on. You should keep finding new things. Anyway, as a beginner, you should assume that trading education has an end. It doesn’t have an end. If you want to do better, you should learn more. In the CFD market, there are many beginners who try to reach higher within a short time but it is impossible. This kind of unrealistic dreams lead the traders to make the incorrect decision. So as a beginner you should accept the fact that is not possible to become successful in a short time. You should think about the ways to become successful. First off, you should have the thorough understanding of the market. Second off, you shouldn’t be an emotional person. These two factors are crucial in trading. If you don’t manage your behaviors and discipline you wouldn’t be able to achieve success.
Things are not so easy when it comes to professional trading career. The new traders are always losing money since they don’t know the proper way to manage their losing trades. At times you might be thinking you have the best trade setups but in reality, no trade setup will give you 100% assurance of hitting the potential take profit level. So learn to trade this market by considering the probability factors of this market. Never let other people tell you are not fit for this profession. Learn the details of this market and you will see significant improvement in your career. Just focus on the key factors and trade with proper discipline.
Fear is possible, but try to keep it away
This is the initial emotion that you face in trading. You may know the market really well still there’s some kind of fear. Fear in trading is common among naïve traders but it cannot be seen among professional traders. When you look at graphs, charts and other information is usual to face fear because the concepts are new to you. In CFD trading, there are higher chances for you to make a lot of money but if you fear the market, it wouldn’t be the case. You may have to deal a lot of risks and face a lot of losses, yet standing firm is really important. You should know what fear is. Without understanding the term fear, you wouldn’t be able to achieve higher profits. Once you understand fear, you will be able to overcome emotions without much effort. You wouldn’t have to fear trades if you understand it.
Greed is common, but it is not healthy
Greed is the greatest barrier to your journey, know to keep it at bay. If you don’t want to lose profits you shouldn’t be greedy for money. The traders with a higher level of experience will know when to trade and when not to trade. The greedy mind can be dangerous as the market is a changing market. Of course, you cannot overcome greed that easily, but you must.
Regret is usual, but it is not great
Anger, panic, and fear can make a trader lose the best trades. This leads to regrets which are not at all good for trading. Regretting is the worst feeling out of all as you cannot take back whatever it has already happened. You shouldn’t other negative emotions affect trading. You should keep trying to win the market by avoiding regretful situations.