CryptoPopo
Private, 1st Class
- Messages
- 51
Here's a really good way of improving your trading psychology :
- Make demo accounts 'like' real accounts : Say you wanted to deposit $100 in your real account. A good way to train is through trading in demo account but with a budget of $100, no less. So you would always keep the principle of only having $100, and by trading using only $100.
- Pick the best time for trading : Some people trade better during the night, some people during the day. Yes, I know it sounds stupid but it affects. Choose the best time for your trading after evaluating the number of profits you make trading in the morning, afternoon, evening, and night.
- Take short breaks : Most people after making trades, tend to keep on trading like they are in a 'winning streak' or something like that. Or from losses, they would want to get their money back. It is always good to re-set, take a break, and start again in a few minutes. Grab a cup of coffee, or do a few push-ups and stuff like that. After all, it is not good to constantly stay in front of your computer.
- Withdrawing funds : I keep a principle of 'if i make more than 80% of my deposit, I would withdraw the funds'. This way, the funds are being kept in your bank accounts, not your broker. This is for safety reasons, in case of emotions, or anything like that. It is better to keep funds in your bank account, rather than the broker itself.