The 50 Trade Challenge

Life is full of challenges, some are thrown at us and others we undertake willingly to test our metal/resolve/abilities etc. Climbing a mountain, running a marathon, completing a an assault course (done a few of those!), sitting an exam to achieve a qualification, doing a cryptic crossword, playing a game of chess or scrabble, you get the idea. If and when you achieve a challenge you have set yourself, without doubt one normally feels a sense of achievement and in the process you may well have learnt more about yourself and grown as a person. Learning to trade is challenging too, but there are some things we can do which include minor challenges to help us learn and progress as traders..

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Focus on the Process of Trading

A common mistake made by novice and aspiring traders is to get starry eyed about the huge profits they are going to make, this often leads to disaster because it distracts them from focussing properly on the actual process of trading.

The more pressure you put on yourself to make money trading, the more likely it is that you will make poor trading decisions and make less or lose money.

Experience in the live markets has taught me that by focussing on the actual process of trading regardless of ‘potential’ profits, one’s trading can improve significantly and as a result so does one’s profitability.

So how does one do that? Continue reading