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SKILLS & ESSENTIALS Trading

What are the points to keep in Mind before Trading?

Want to know key points to remember before executing trading. If you ask any trader who trades daily they follow a written trading or investment plan. By making one doesn’t mean you guaranteed success but it is just removing a hurdle out of many in your trading Journey.

Given below are some tips that you need to know if you trade :

1. You must have a plan with you. It is a saying having a trading plan is very important for trading success.

2. Your trading strategy should be written on stones but with the ability to reevaluate your strategy in case of ever-changing market conditions.

3. A good trading strategy considers the trader’s personal goals and style.

4. A trader must know when to exit from the market, it is as important as much as traders are needed to know the entry of buying point of the share.

5. Stop-loss or profits needs to be put in a trading plan for better identification of trading exit points.

If your strategy lacks any of the above-mentioned points then it would be difficult to follow success. Moreover, if your strategy lacks in any technique doesn’t mean you are a complete failure because you are at least on a course of making a good plan or modify it.

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