When you decide to trade stocks, the one thing you and I want is SUCCESS trading. What is the measure of trading success? Trading success is measured by the PROFIT we earn. When you succeed in getting consistent profits (especially if you can make a living), then in that case you and I are said to be successful.
To be successful in trading, you have to build a success mindset, not just trading skills. Why do you need to have a success mindset for trading? Because mindset is a mindset that will affect your actions in trading.
When you have a success mindset, what are the steps to build a trading mindset? In this post I can give some tips for you.
1. Plan your trade, trade your plan
Every activity you do, must have a clear plan. Try to imagine big companies like Indofood, Unilever they can get a place in the hearts of customers, what is the key?
Of course because the company's management has a plan (planning). If the management of the company does not have a plan, I am sure that the company will not develop and the company's products will not be known by the public. Likewise with trading.
If you trade, you must have a trading plan. What stock do you want to buy, at what price do you want to sell it, at what price you have to cut loss, how many shares to buy, how much capital to use, every few months you have to inject capital. Without planning, the trading system will not work well.
Point 1 is related to the TRADING PLAN. Many traders don't have a trading plan, so they can't make consistent profits.
2. Process and Think Positive
The mindset of successful trading is to build positive thoughts. You must always think that you can make a profit, and you must be willing to proceed. Because success cannot be passed without a process. I mean, you can't be successful in the blink of an eye in trading without experiencing the process and building positive thoughts.
3. Learn from the best
In order to be successful, you must learn from the figure of a trader who is already successful in the stock world. Why is that? Because by absorbing as much knowledge as possible from them, the positive habits of successful traders will be embedded in your mindset. Learning from the best can be a motivation for you and me.
4. Business mindset
Make trading a business, not a gamble. If you have the mindset that trading is a business, you will always correctly analyze every stock price movement, and not be influenced by unclear fried stocks. If you make trading a business, you will always evaluate each of your trading activities.
5. Ready to experience loss
Every business will experience losses. You have to cultivate that mindset. If you trade, you must be prepared to lose. This loss is like your "course fee". You have to plant the mindset that a successful businessman may never experience difficult times. Loss in the stock market is the best learning that can mature you in thinking and analyzing better.
