Preparation to Enter the World of Trading

Trading on the stock market, forex or gold is never easy, this is because the market is always changing dynamically. Trading has a very high risk, therefore traders need to have knowledge and preparation for trading. Before starting trading, traders must have this preparation to be successful in the world of trading. What preparations should traders make?

Mental

The psychological strength of a trader can be seen from his ability to survive (mentally, of course) from the many psychological impacts that are commonly experienced by being a trader.

Simply put, the mental quality of a trader will be seen from how he reacts when he experiences a loss (or gains). Is there any bad effect or not.

Experiencing losses and making profits, if traders are not careful, will have an equally bad impact on the quality of subsequent traders' trading.

For example, a trader who happens to have just won several times in a row. Under such conditions, he is vulnerable to arrogant and greedy attitudes.

The experience of successive profits caused the trader to become so frustrated that on subsequent transactions he did not want to use the stop loss properly, or double the transaction volume.

On the other hand, the mentality of traders who are repeatedly hit by losses can also collapse.

It is possible that he will lose confidence and refuse to evaluate the trading strategy he is using because he believes that the strategy is useless.

As traders, traders are not only obliged to increase capital money but also strengthen mentally.

Traders must learn how to strengthen mentally through trading experiences, whether it's sweet or bitter, loss or profit.

When a trader experiences a loss, no matter how big, don't let the loss affect the mentality of the trader when making the next transaction.

Traders must really be able to see that each transaction is a different transaction. Otherwise, traders will forever be haunted by losses that have actually passed.

Conversely, when a trader has just made a profit, it is important for the trader to continue to treat subsequent transactions as transactions that allow losses.

Then there is no reason to feel arrogant and ignore every risk that might arise. Mental balance like this is no less important than strengthening forex trading capital (money), because mental strength is what makes traders able to survive in all conditions.

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