Strong Mind Control

Strong Mind Control Intraday Trading

Intraday Trading Strategy needs Well-Disciplined Trader:

Do Not Change Rules or Strategies for a Few Failures

A trader who follows a set of rules framed by himself in order to minimize losses and maximize profits by putting their own experiences of the consequences of the previous trades, to use and not repeating the same mistakes again and again, and following the winning strategy making profit consistently may be termed as a well-disciplined trader and who is strong emotionally, which will eventually lead to developing their own effective strategy.

  • Strong Mind Control is Sticking to a Winning Strategy:

If you have a winning strategy and making profits stick to the strategy unless you keep losing continuously over a period of time because your setup may not be working under the present market conditions which eventually changes and you will be back on track with the same strategy with profits later on.

Develop a systematic trading rule based on your experience of your winning strategies and follow it blindly whether you lose or gain it will lead to success If you had gained earlier with those rules you are likely to win again. Do not keep changing your strategy very often.
  • If you keep changing the trading rules or break the rules you are set to lose.
  • Do not keep changing your strategy often, If you gain consistency in any strategy adopt it and do not change it.
  • Have good money management skills with a good reward risk ratio.

  • Strong Mind Control for a Big Achievable Realistic Goal:

 Have a big achievable realistic goal, work out a monthly or a yearly target, work for it, divide it into average daily profits, without greed, work for it, and move in its direction.
  • Do your homework daily for the next day's trades according to your strategy.
  • Do not forget to place a stop-loss order.
  • Keep your emotions under control and do not trade when you are under stress.
  • Keep your mind cool always.