How can I be a successful trader? - page 6

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To be successful trader you have to be well informed and having the right Broker on your side. Other factor that is important for me are the lessons learned from my own mistakes.
 
Never Trade against the trend and must follow the right money management i.e never risk your Capital more then %2 on one trade and you are good.
 
In the beginning is always tough as you could lose more money than you actually win, but the persistence and discipline are the factors that could contribute in order to becomine successful. Preparing a trading plan by observing the market (defining your entry, exit and management criteria) and following this plan exactly is crucial .Of course you should never stop learning from other´s experience and also from your personal mistakes as LazaRr has pointed out. I’ve also read that it’s a good idea keeping a journal where you could write down details about your orders like date, price ,time and the reason why you have positioned the certain trade.I should admit that I decided to try and I found it quite useful.
it´s advisable to improve and refine your strategy but still keep the things simple, as from my experience the simplicity gives you the ability to make quick decisions ,solve problems faster and also diminish the internal conflict regarding trades.
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