Successful trading depends on the 3 M’s—Mind, Method, and Money.Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology—their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options, or futures as well as firm rules for pulling the trigger—deciding when to buy and sell.
Money refers to how you manage your trading capital.
To be a successful trader,
you have to develop iron discipline (Mind), acquire an edge over the markets (Method), and control risks in your trading account (Money).
No comments:
Post a Comment