2. Be unafraid to lose. I realized it’s better to calculate how much you are comfortable losing on a trade and placing your stop loss at exactly that price before you take a trade. Never trade without a stop loss no matter how sure you are about a trade.
3. That a trader who does not understand how to determine support and resistance is just gambling in the markets.
4. That news alerts do move markets and one should be updated about the major news alerts on any given day and decide to trade well aware of the news alerts or decide to stay out of the markets.
5. That some of the best trades are the ones that we never take – staying out of the markets at times makes the difference
6. That patience is a must in the markets. One must wait patiently for entry and exit signals. Emotional trading will soon or later boomerang on the trader
7. That documenting each and every trade helps the trader analyze better.
8. That having a defined trading strategy helps to avoid over trading hence allowing for only high probability profitable trades
9. That every trader should have a mentor with whom they share trade setups and discuss various issues about trading, joining an online forum can be of great help if you cannot find a mentor in your area.
10. That teaching and helping others learn how to trade the market is golden
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