1. Although the dream of realizing financial freedom is tempting, it does not happen overnight.
This requires us to have enough time and patience, instead of having illusions about getting rich overnight and achieving financial freedom. Young traders often imagine that they can get rich quickly through a few transactions, but real trading wisdom tells us that this is not easy. thing.
2. In trading, it is important to stay calm
Although it is possible to make money in the market, sustained and stable profits require us to have a firm will and a calm mind. The digital age we live in has given us easy access to financial markets, but for those seeking a steady income, trading is anything but easy. To do this, we need to conduct sufficient due diligence during the transaction process, formulate our own strategies, and implement them firmly.
3. It takes time to find a trading method that suits you
A common mistake that many novice traders make is to confuse day trading with daily trading. In the end, they often end up losing money because they don’t have a perfect trading strategy. Every trader should have a style and strategy that suits him or her, and finding the method that works best for you requires constant experimentation and learning. In this process, we may make mistakes, but it is important to learn from our mistakes and constantly adjust and improve our trading strategies.
4. Habits create success
"Habit determines destiny." What this means is that trading is an ongoing process in which traders must aim to become a better version of themselves every day. Trading is not only a personal journey, but also a profound self-exploration that will test your character, destroy your confidence, and even make you doubt yourself in trading. But every lesson is an opportunity for growth, which allows you to learn from your failures and grow into a better trader.
5. Plan transactions in advance and plan transaction expectations
A successful trader not only plans his trading strategy in advance, but also plans his expectations. A tested and well-functioning trading process is far more important than blindly envisioning trading results. That said, we must recognize that losses in trading are inevitable, but the key is to have a clear understanding of the risks and possible outcomes when trading.
6. Leverage is not the source of all evil. If used properly, trading will get twice the result with half the effort.
Leverage can magnify gains, but it can also magnify losses. If used properly, it can quickly increase returns. However, as a trading novice, you should pay more attention to the psychological factors that are often ignored in trading. Such as patience, calmness and determination. Only by mastering these can leverage become a powerful tool in our hands.
7. The starting point does not determine the end point
You don’t need a huge amount of money to start trading. With a clear plan and strategy, even starting with a few hundred dollars can make your way toward financial freedom. Remember, you can't reach a thousand miles without taking small steps. Only small wins can add up to big wins.
Summarize
As former U.S. Senator Chauncey Depew said: "The first step to success is to decide that you are not going to stay where you are." May these seven pieces of advice become the star of your financial trading journey and illuminate your journey. Your path forward.
