|

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

XRP rebound remains fragile as muted ETF flows and weak technicals cap upside

Ripple (XRP) is regaining momentum, trading above $1.10 at the time of writing on Monday. This modest rebound mirrors the broader recovery observed across the cryptocurrency market.

Bitcoin Weekly Forecast: Strategy sells, the market doesn’t care

Bitcoin reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning.

Pi Network tests key support as bears anticipate further decline

Pi Network tests $0.1000 on Friday, edging higher after six consecutive days of weakness. The technical outlook is bearish as intense sell-side momentum warns of a steeper correction despite mild intraday recovery.

Uniswap Price Forecast: Rising stablecoin activity fuels UNI bullish rally chances

Uniswap is up 3% on Friday, extending its rebound from the 50-day EMA at $3.08. Retail demand builds around Uniswap as Open Interest rises 5% in 24 hours, with a positive spike in the funding rate.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move
Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.