The new year will no doubt bring reflections on how results as last year's stock trader.this moment is very good as an opportunity to create new goals in improving the quality of trading your shares during the new trading year in the Indonesia Stock Exchange in 2020.
For those of you who have struggled in 2019, this is your chance to press the reset button and commit to completely change your mindset and outlook on the world of trading.this includes eliminating bad habits that you know continue to hold you back, and changing the way you approach each trading throughout the new year ahead.
For those who have made many improvements and profits, this is your chance to dissect every aspect of your stock trading and remove more of the bad habits that you know hold you back and of course to continue to perfect the good habits that have caused you to grow and succeed for a year lastly.
It doesn't matter if you are a beginner trader or veteran trader with more than 10 years experience, what is important for you to do is to write down your goals, and commit to those goals at the beginning of the year and throughout the year.Your knowledge and skills will increase over the past year, so your current trading plan also needs to be modified.editing a trading plan every year is something I do personally and I highly recommend that you do it right now.
This is my first lesson in the new decade of the 20s, and the tips that I will share below apply during the last decade as in the new decade to come.the market and human psychology of market participants will never change, so the application of tips that I share with you here will not change.
These are my best suggestions and tips for dominating trading in 2020.
Focus on one trading strategy or chart pattern until you really master it.
Instead of focusing on a number of trading strategies this year, on the contrary, commit to focusing all your energy on learning and trading only on ONE single price action signal / price action pattern.
You must commit to becoming the master trading setup you choose, and make it yours.after mastering the trading setup you choose and achieving great success in a new larger series of trades you can switch to mastering other trading setups or chart patterns. You must resist the temptation to change your trading strategy for whatever reason.commit to this one trading strategy, focus on it religiously and be sure to live it.
Reduce your trading time, and increase your trading time.
In my early days as a trader, I was very obsessed to the point where 14 hours a day I spent watching my computer or smartphone screen, monitoring the trading course, opening markets, entering and leaving trades continuously.I don't have any control over my emotions and 95% of traders don't read this lesson.
Unfortunately most traders spend their time all day and are glued to the trading screen or mobile screen all day, similar to an addict who roams the casino while watching cards and playing dice on the game table.don't think in the slightest that because you are smart or educated or have achieved success elsewhere so that you cannot be addicted to trading, it can happen to anyone.if you spend all of your free time in front of the chart looking for the next best trade or watching the progress of trading prices, you will destroy your trader's career and your trading account balance.
Maybe it will surprise you to learn that I spend less than 1 hour a day analyzing charts and thinking about what stocks I'm going to buy, and how my trading plan is made.there is nothing I can produce by observing the market or trading all the time, I have no control over what the market is or will do. It's the same thing as watching paint dry almost all the time. I suggest you not to monitor the market all day long.