Remain Flexible While Trading
If you are in the trading business from past few years
, then you must be knowing the importance of flexibility in Intraday trade. The key for the success in the Intraday trading is flexibility. Its highly impossible to become successful as a trader if you stay detached from your trades, and if you dont remain flexible.So, what do you mean by flexibility. Its very simple. You should be ready to give up on your loosing trade in a moments notice. Its very common for a trader to get caught up in the particular trade they are in and they put more weight on that trade than it deserves.
Let me illustrate this. The stock market may be showing you the signs that the trade is not going to continue in your direction, but still you are not ready to get out of the trade. You would be so attached to your trade that you cannot be flexible enough to act in your own best interest.
Inflexibility will kill your trading in a hurry. You should be willing to change your mind quickly and easily in order to be successful as a trader. Follow the Stock market direction. Never go against it. It would be like swimming against the stream.
When your trading decision goes wrong, try to admit it and get out of the trade. Of course its very difficult to admit the mistake. But being inflexible and unwilling to admit you are wrong will do nothing but drain your trading account dry.
If you dont get out of your bad trade, then it will eat away all your past and future winning trades. So the choice is yours. Your good trades will be eaten by your bad trades if you remain inflexible. If you have adopted the Intraday trading as your living, then you must remember one thing that your monthly bills could be paid only if you protect your winning trades. Always try to protect your trading capital. You can place another trade only if you have trading capital.
The amount of money you make in Intraday trading will be in direct proportion to how flexible you can be. You can be successful as a trader, only if you remain flexible. You can have more winning trades, if you take up the advice of the stock advisory company which provides Intraday tips. In this way, you can earn in the volatile Stock market.
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