What should you do as a retail trader this year that can make you a better trader? Here are some tips.
Review your trades
Experience is a mere memory. But it holds a treasure underneath and hence the fuss. You just have to look back and find what needs to be found. So, look back into your trades, strengths, weaknesses, what worked for you, and what didn’t. Do a review and be hard on yourself so that you do not repeat the same mistakes. Craft a plan that eliminates mistakes from your system. Well, new mistakes are prone to creep in, but that doesn’t mean you should stop trying. And make it a habit to review your trades periodically.
Learn a new concept
Make a resolution to learn about the market. It can be a strategy, idea, or mind hack. If you are a technical trader, you can get to know about some fundamental topics. Expand your trading skills so that you’re equipped to deal with anything the market throws at you. Further, it increases your confidence, which at times could be the game-changer.
Discipline is the nemesis of failed traders. So if you don’t want to become one, then stay disciplined. And what better new year resolution for a trader than this. Make it a writing on your wall. Once discipline becomes your habit, then you’re bound to get success.