What Are Your Goals in Trading?

A majority of traders are unsuccessful due to the compulsion to generate profits on a daily basis, though this approach may work at times, it often results in impulsive decisions such as overtrading, and seeking education in the wrong place.

 

Active day trading can be successful, but it may not be for everyone. You need to put well worth hours of research and study, most importantly master to control trader emotion and learn effective and consistent trading methods, techniques and strategies. It's been shown those who study correctly and trade part-time (the catalyst hours) or occasionally, can find more success. This is mainly because there is no requirement to engage in daily trading for income, making it easier to focus on mastering patience and discipline while waiting for clear criteria to better seize major trading opportunities on a fundamental, technical or even psychological level.

 

When you consider the potential of fundamental & psychological trading, it can prove a notable impact on a trader's annual performance and reduce the daily frustrations that often come with active day trading. 

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It is important to identify your objectives, whether they involve active trading, occasional trading, seeking returns on a daily, weekly, monthly, or yearly basis.

Various trading styles can lead to success, but it is important for each trader to understand their individual strengths. Some traders choose a faster-paced environment, while others prefer a slower approach. Since the stock market is time sensitive, each style necessitates proficiency in its corresponding strategies.

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Learn those strategies here.