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Sunday, February 5, 2023

7 Tips to Being a Better Stock Trader (and More Successful)

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Here’re the seven tips to being a better and more successful stock trader.

Tip 1: Have an open mind… there is more than one way to make money in the stock market.

Tip 2: Stay away from the news and media when trading. They only discuss hype and what’s hot – but it will make you inconsistent.

Tip 3: Master the art of trading first – then go bigger… you can always increase your share size later once you are consistent.

Tip 4: Your success is up to you… you have to do the homework, you have to create your own risk and reward strategy

Tip 5: People have different views… some look at the longer time frames, others look at the shorter time frames. And I’m not talking about charts – I’m talking about world views and future outlooks.

Tip 6: Study longer charts time-frames and learn to understand vega when it comes to options.

Tip 7: there is more to life than just money. Live for a higher purpose and use stock trading as a tool.

#tradingtips #tipsfortraders #stocktrader #stockmarket #stockstips

Posted at: https://tradersfly.com/blog/7-tips-to-being-a-better-stock-trader/

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