Some useful tips for traders. To be a profitable, a trader must overcome these things:
- You must beat your emotions by following a trading plan.
- You must beat your ego by taking losses early when you are proven wrong.
- You must beat your greed by managing your position sizing to limit your risk exposure.
- You must beat your fears by letting a winning trade run when there is no reason to exit.
- You must beat your desire to predict the future by reacting to what price action is actually happening.
- You have to make enough money to beat your commission costs.
- You must not let the market beat you up with too many losses and make you quit.
- You must beat the naysayers who think active profitable trading is impossible.
