Many skills are required for trading like technical analysis, fundamental analysis, and other analyses. but if your mindset is not strong then you can't make money and this is the main difference between a rich and poor trader. a rich trader has a good mindset so strong and a Poor trader has a narrow mindset.
If you take trade and you do not have any plan then you just have a bad mindset so you do not make money
if you want to make money in trading I will give you some important tips.
1: Good Mindset approach
means you need a plan
ask yourself why you are taking this trade??
why do you buy or sell ??
do you have any plan if this trade goes against you?
do you have any entry and exit plans?
do you have the patience to get more gains more money?
Do you have any plan to stop loss to cut your loss?
2 Technical Analysis
Everyone learns technical analysis and everyone knows about price action and the most popular indicators like Macd rsi and price action but you know why after learning this all why most people fail??
because they have no idea plan they lose their money because after having technical analysis but they do not have any mind plan and what is mind plan is depends on you how you create your strategy to win every trade with technical analysis but all the credit goes to mindset.
What is Fear in Trading
it is a natural effect so if you are trading you face fear when you take a trade and go to the opposite of your side you take a long and the price goes down then you face the fear of losing money but you have to understand
it is the part of trading loss and profit no one is 100 percent in trading but if you cut your losses and consistently make a profit then this fear does not affect your trading first you need to control your emotions that is ok when I lose I accept my loss if you want to accept your loss then you become a good trader
What is greed in trading
you can get rid of greed if you have a full trading plan and you know trading is like a game some time you lose and some time you won so be patience
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