The brain does not like repetitive losing. Be sure to stop trading after 3 losing trades in a raw!
2: Create a trading plan and stick to it.
Successful traders have a plan and they trade nothing but the plan!
3:Manage your mood:
If you are ill, cranky, depressed, or sad, STAY AWAY FROM TRADING!.
4: Keep detailed records:
A trading log with self-assessments of your trading performance will pay dividends very quickly. knowledge is power!
5:Have adequate risk capital.
Your trading capital should not consist of money you need to pay bills or money that you have committed to other investments like your home or retirement funds.
Rule 1... I'm sorry but this is poor advise. If the 4th trade is the elephant in the room that you miss then your expectancy is skewed. You never know when your streaks will end. Cannot time them based on your emotions. To counter your suggestion for rule 1, I'd consider employing less risk as you consistently lose until you streak ends. Otherwise, good advice.
asmam964
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very useful
for new traders.
Alexander_Nikitin
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Stop trading after 3 losses is not a good advice. Keep trading your plan after 3 losses is a better one.