Trust the Process, Enjoy the Progress 1.0 Basic is the new advance.
You are the driver of your own life. Take care of your own mind, the car called mind which drives you. You should drive the mind rather than the mind driving you. Trading Doesn't Just Reveal Your Character, It Also Builds It If You Stay In The Long Game. The Seed Trader Ph is a NEWbie to NEW me Trader Guide to Establishing your Trading System.
Topics:
Day 1 - Understanding Trading Psychology it is very important, most of the traders keep ignoring about the process about the mindset in trading. It can be associated with a few specific emotions and behaviors that are often catalysts for market trading. Conventional characterizations of emotionally-driven behavior in markets ascribe most emotional trading to either greed or fear. If a trader is over trading, trading impulsively, revenge trading, missing trade after trade, hesitating, chasing the market, entering late, taking premature profits, moving his stops too close to the market, or too far away from the market, breaking his rules, or blowing up accounts, then Change is immediately required. In order to get results, you must stop wasting time with well meaning but ineffective self-improvement methods that are not working.
Day 2 - The best way to start something new is to free your mind from unwelcome or unwanted thoughts. Emptying your cup is one thing to remove the "AKNY" mentality or Alam Ko Na Yan, this is a very common attitude from newbie traders. Being mindful is the practice of focusing the mind on everyday actions that you might normally do on autopilot. Trading is simple but it's not easy Trading is not for the dabblers, the dreamers, or the desperate. It requires, above all, one steadfast trait of dedication. So if you are going to trade, trade like you mean it.
Day 3 - When people refer to the stock market being up or down, they’re generally referring to one of the major market indexes. A market index tracks the performance of a group of stocks, which either represents the market as a whole or a specific sector of the market, like technology or retail companies. Don't be blind you need a map in every destinations especially if you are not familiar. Day 3 we will discuss the common misconceptions in trading, understand the trading terminologies, finding your niche and knowing the reason why trading and to understand everything you need to be open minded to see whats inside the market. The key is "always take only what you can get"
Day 4 - As you strive to become a better trader, you should be focused on finding your own niche. You will not get rich by simply mimicking another day trader's approach to the markets. You need to develop a strategy that resonates well with you. The path towards becoming a consistently profitable trader is marked with blood, sweat, and tears. Straying from the metaphors for a second, this journey requires hard work, trial and error, and a relentless pursuit for greatness. Determining the right time to trade and the right market to trade may appear to be challenging at first, as can many aspects of trading!
Day 5 - Don't go to war without a weapon. NO plan NO trade, A day trading setup, also known as an entry strategy, helps you identify trading opportunities, trends, and entry points. When you know these things, you make better-informed decisions and take strategic action. So, with the right setup, you can reduce your trading anxiety and boost productivity.
Day 6 - Theres a saying "you can't measure what you don't track." Backtesting is the most under-utilized secret weapon in trading. It is the process of poring over historical price data and testing your strategy over hundreds or thousands of past trading opportunities in order to collect statistics about your edge. It’s an essential tool that many new traders don’t find out about or fully understand the importance of until late into their trading journey.
Always Remember: You Don't have to Be Great To Start, But You have To Start To Be Great! - Zig Ziglar
You can always start with the basics and You don't have to prove yourself to anyone, Just focus on your goal.
DISCLAIMER: All posts and descriptions in this page are ideas of individual authors for educational and entertainment purposes and may not reflect the opinions of the team. None of the ideas posted is investment advice. TheSeedTraderPh is not a financial advisor, and we do not encourage anyone to believe anything we say, always practice due diligence.