What are some hacks that you want to share with newbie traders on whatever you have learnt as being experienced trader through out your trading career?

What are some hacks that you want to share with newbie traders on whatever you have learnt as being experienced trader through out your trading career?

Thinking Boxx Team

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Following

Full Time Trader at National Stock Exchange (NSE India) (2021–present)8m

14 truths all newbie traders know :

1. The most important thing for a trader to ever do is follow their trading plan as accurately as possible.
2. Risk reward and win rate are just as important as each other. Finding the real balance between them is the key.
3. A professional trader is nothing without risk management.
4. We all start as beginners and that’s okay. No one becomes profitable trader quickly.
5. You can;t live paycheque to paycheque as trader. Having atleast 6–12 months of salary saved is crucial.
6. If you take trades without following a trading plan, without an edge, you are a gambler not a trader.
7. Full time trading doesn’t mean that you will be focusing 1 hour a day and resting all afternoon.
8. Full time trading requires you to have elite emotional regulation.
9. We must prioritize our positive mindset at all times. Stressed traders do not trade well.
10. Time outside is amazing for refreshing the mind.
11. Real traders do not drink and smoke all the time. You need your own level head to make consistent money.
12. Spending far less than you earn is the key to financial comfort and growth.
13. You won’t make money every day or every week as a trader. You will have to deal with losses.
14. But just because your strategy loses some trades, it doesn’t mean it has stopped working. Trust the process.

Thank you for reading 🙏🙏😌