Develop a routine to maintain consistency in trading from "summary" of Mastering Trading Psychology by Mike Baehr,Andrew Aziz
To succeed in trading, it is essential to establish a routine that promotes consistency. This routine should encompass various aspects of trading, such as research, analysis, decision-making, and risk management. By following a structured routine, traders can minimize emotional decision-making and impulsive actions that can lead to losses. A trading routine should start with setting clear goals and objectives. This involves defining specific targets for profits, risk tolerance levels, and the time horizon for trades. By having concrete goals in place, traders can stay focused and disciplined in their approach to trading. Research and analysis play a crucial role in trading success. Traders should allocate time each day to gather information, conduct analysis, and stay updated on market trends. This includes studying charts, reading financial news, and monitoring economic indicators that may impact the market. Decision-m...
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