In a profession, a person’s thinking power is the most important thing. People who are good with handling things cannot be ensured to deliver a proper mental afford. The brain has to be given space to think properly and the setup of your working environment has to be friendly. Only, then the brain will be influenced to think properly and good plans and strategies will come out. In the trading business, the requirement is the same. As it is more likely a business, your strategies and plans are going to be the main power here. So, the brain of yours has to get the proper working environment. Anything distracting and bothering must be avoided. In this article, we are going to talk about it with more details. The main focus will be, to let you know about taking the pressure off yourself.
Use less information for peace
You have to start with the charts for being less harsh on the head. The first distracting thing in a trading process is watching the charts which display too much information. If you use the bars for everything from support levels, to pickup points, resistance points or key swings etc. it would be a really busy chart on your monitor. Traders do use this kind of setup. But they are more advanced level players and you should know about that. If you use normal bar charts for learning about those terms instead of using all of those crap, it would be much easier for the head to understand. It is more like using your imagination rather than giving too much visual input. Then traders can think properly and make plans for a position. After a while in the trading business when you get over reading charts, the tools can be used for more advanced level position finding.
Fundamental factors of the market
The new UK traders often ignore the importance of fundamental factors. Analyzing the technical data in your trading platform is not enough to secure quality trades. You should also focus on the high impact news as it will help you to ride the market trend. Stop trading the market based on only the technical data. Be smart and start using the three major form of market analysis. At times tweak the system to secure big winners. But always stick to your money management plan.
Be a simply stupid trader
To make a good trade, you have to plan the whole process. And it would be a sample plan for each and every trade from your account. With little tweaks here and there it can be used in any condition the markets have to offer to you. Every trader must make one. If you have nothing for yours, there is nothing to worry about. You are not preparing for a war or something. This just like following protocols and making plans for your trade. And another thing, you can think about being a simply stupid guy for making plans. Use whatever you have in the experience and knowledge boxes and make plans for trades as well as money management.
Forget about the live trade
The trades are good for making money and this business is also good for offering proper freedom. But some circumstances force traders to get into worry and tension about losses. And the live trades are one of a kind. Those things can affect your trading performance during the running period and even after closing a trade. Traders get confused and frightened for losing money. Their activities seems to be abnormal compared to others. After the closing of a trade, the consequence is to being emotionally hurt with the results. Losing trades makes them depressed and winning gets people excited. Both of them are not good so you should avoid worrying about a live trade.