I noticed that traders are less focused on education that ultimately destroys them. It’s the common habit of traders to avoid education. So, traders should first focus on learning and then on investment. Learning is no longer a hurdle nowadays as internet is now available.
Time management is as important as trade and money management in a well rounded strategy in my opinion. Depending on how you trade getting this right can help you avoid sitting in front of charts all day.
If you can't spot the liquidity then you are the liquidity.
That does make sense, good start there! If you truly wish to trade news, you need to watch out and stay updated on all the news available so you don’t misconstrue any move. Create a plan, stay organised so you don’t lose your mind in the process, it can get hectic so take a few breaks and rest.
It’s essential for a trader to know that trading is not just about finding the right trades to execute but also about finding the right time to make the right decisions. So, analyse the market well and see when you must enter and exit your trades.
Managing time is one of the most crucial elements of trading. If you select the right time frame, it’ll get easier to make money in the market. You need to understand the importance of fundamental and technical analysis and utilise either whenever necessary. But, trading news is very tough. I tried my hand at it and failed many times.
When trading, you have to keep track of time and make decisions at the right time. For instance, as a scalper, you need to have a good exit strategy. If you fail at this, you are losing a trade. So, not only is a good strategy an essential, but when you apply it is also equally important to make a successful trade.
The most important things while trading are the emotions and time management. I think you would be fine tho if you know what you are getting yourself into and not expecting much. If you want to be big, then trading is your time. Like all of your time.
Time management is crucial in life as well as in trading. Those who are disciplined and intelligent understand the market’s pattern and make moves accordingly. It is important to time each trade right to gain the most profit.