|

13 Valuable Trading tips

  1. BE PREPARED & FOCUSED before you strike.
    You need to stay focused, zone everything out and concentrate on nothing but what you are doing, that way you can make every strike count. 

  2. CONSTANT TRAINING to learn automatisms.
    This is important for the times when you are under big pressure because you will be more confident and you will know how to react under stress because you have trained for it!

  3. Have a CLEAR STRATEGY.
    You need to make a plan with specific directions, criteria, risk limits, which brings me to my next rule, where you have to stick to your strategy!

  4. Be DISCIPLINED.
    Sometimes you need to make tough decisions in order to succeed in the long term: you have to respect your risk limits, cut your losses, run your winners, and in other words, always be disciplined!

  5. You need to SLEEP.
    You can’t play well if you don’t sleep enough. Likewise, you can’t think carefully without a good rest at night. That’s why you really need to conserve your energy and be fit for trading.

  6. Learn to HAVE PATIENCE.
    A match lasts 90 minutes, and there are plenty of opportunities to score goals. Don't make hasty decisions. If you risk more and lose, you are likely to become emotional and start making bad trades.

  7. Be AGGRESSIVE if you know what you’re doing.
    Unskilled or reckless tackles don’t help. Leverage is the same: higher rates of leverage aren’t your enemy, but you have to know how to use them properly. 

  8. LEARN FROM A LOSS.
    You can’t win all the games. But you can learn from your losses. You should analyze what went wrong, and apply it to the next game or trade.

  9. Have a WINNER MENTALITY.
    If it was that easy to be a successful professional footballer, everybody would be doing that. But it’s not: you need have a winner mentality, always train harder, always push yourself more.

  10. Team play and LEADERSHIP are very important.
    Being a good leader has been one of my priorities throughout my footballing career, especially as captain of the National Team. 

  11. It’s alright to TAKE A SHORT BREAK.
    Football is my passion, but even I, sometimes, need to take a short break. If you’ve been trading too much lately, and you are not sure where the market is going, take a break. 

  12. BE OPEN to the unknown.
    Nothing is certain in any game. For forex traders, this means that you need to minimize risk but it also means that you need to be prepared mentally for unexpected movements.

  13. TAKE YOUR TIME.
    Trying to score too early is a common mistake because players often don’t realize that earlier isn’t always better. You need to cut your losing trades early, but you have to run your winners!

Author

Stuart Cowell

With over 25 years experience working for a host of globally recognized organisations in the City of London, Stuart Cowell is a passionate advocate of keeping things simple, doing what is probable and understanding how the news, c

More from Stuart Cowell
Share:

Editor's Picks

Ripple bulls eye another breakout with $1.70 in sight

Ripple (XRP) upholds a strong bullish outlook, while consolidating near $1.50 on Tuesday. A 72% rally last week pushed the token to $1.70 before it pulled back to seek support amid possible profit-taking and an overstretched market trend.

Polygon extends rally as bull market discovers steady network growth

Polygon (POL) advances to a steady recovery above $0.1200 on Tuesday for the fifth consecutive day, sustaining its 45% gains from last week. The Polygon network is witnessing steady growth in transaction activity and real economic value.

Crypto Today: Bitcoin soars past $80K as Ethereum and XRP hold gains

Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors' risk-on sentiment, liquidity conditions and the technical outlook.

Bitcoin rally above $80,000 shows signs of overheating 

Bitcoin extends gains, trading above $80,000 at the time of writing on Tuesday following its strongest weekly rise in more than three years. Institutional demand continues to support this rally, with spot ETFs recording positive inflows on Monday.

Bitcoin: The US Treasury saves BTC

Bitcoin extends gains, trading above $77,000 on Friday after rallying over 20% and reaching its highest level since mid-May. Crypto markets continue to cheer the US Treasury’s decision to double its debt buyback operations, posting their 7th-largest liquidation event in history.