Timing is critical in the trading business. A trading system having a decent win rate might help you to become a confident trader. But if you take trades with aggression and ignore the core concept of trading, it won’t take much time to blow up the account. At times, it is very hard to understand the nature of the market. The traders become confused and blame the market. But there is nothing to blame because the market will always present after a while. You have to spend some time learning to find a time when you can’t take any trade.
After reading this article, you will know the key times at which you should never execute any trade. Follow the steps of this article, if you care about the trading platform.
The emotional state of a trader
Traders can become emotional at any instant. Taking the trades at the emotional state is a big mistake. You can’t make a profit and take logical decisions. The majority of rookies don’t know this and they follow the aggressive steps. But if you take a look at the top trader in the world, you will learn to trade without having any emotional attachment. Though it will seem very hard at the initial stage once you learn to take the trades with discipline, you will be able to change your life. Learn to control your emotions at any cost. There is no reason to follow a gut feeling when you have a well-balanced trading system.
The volatility of the market
Rookies often think that having access to the Saxo capital markets Singapore means they can trade at any instant. The elite traders at Saxo always trade in a stable market. Let’s say, the market is extremely volatile during the global uncertainty in the oil market. Do you think you can make money by trading the oil? It depends on your luck. So, try not to trade in such market conditions since it will ruin your trading career. You need to trade the market when everything is stable without taking the trades in a stable market, it will be really hard to change your life. Spend some time learning about the market volatility and you will be able to protect your trading capital.
Aggressive traders love to trade the massive breakout. But taking trades during a massive breakout is a very challenging task. Most people fail to make money by trying to trade the breakout because they don’t have any skills. You have to follow a conservative method in trading and only then will you be able to change your life.Elite traders often use the market retracement to execute the orders. To them, trading is nothing but taking the trades with managed risk. If you want to protect your trading capital, you must learn to trade with discipline. Only then will you be able to change your life.
Losing too much money
Those who are losing too much money at trading should take a break. There is nothing wrong to take a break from your trading profession. Even the top traders in the world often take breaks to restore the balance. Trying to trade when you are not stable always results in a big loss. To ensure the safety of your trading capital, you should immediately stop trading when you feel that you are losing too much money. This will help to protect your trading capital and allow you to take perfect decisions at trading.
Making big profits is not a tough task. But if you take a look at the top traders, you will notice that they all are following the tips of this article. So, be careful about your trade execution and follow the tips in this article.