How to concentrate on trading?

Profits depend on trader concentration. When he gets distracted, forgets about important factors and is nervous, the deal is 90 percent failed. These tips will help to be focused on trading.

Work at the same pace

Trading is like riding a bike without brakes: a person accelerates strongly and flies, knocking down all the branches on the way. The trader has his own bike too: he opens deals (accelerates) and makes many hasty decisions (knocks down branches). As a result - goes at a loss.

To concentrate, the trader needs to slow down. Do not open more than two transactions at a time, if you conduct a technical analysis - then spend time only on it, without being distracted. If the transaction is unprofitable, it is better to fold and close it with a small loss.

Close unprofitable transactions with no regret

Many traders do not give up losing transactions, because they are afraid to start over. They hope that everything is not lost and wait till the last minute. But if earlier they could come out with minimal losses, now they lose everything.

The next time you suddenly realize that you have fallen into a similar trap, ask yourself the question: “Would I open this transaction at the same price?” Or “Is this transaction worth such risks?”. Answers will help close the deal, save your budget and leave with minimal losses.

Say «stop» to yourself

The trend went unpredictably, the price went down, everyone is eager to sell the coin, chaos on the market - in such situation it is impossible to concentrate on trading and you unwittingly panic.

Photographer Chris Sasaki in such difficult moments says “Stop!” to himself, and Peter Bregman, the author of the book “18 Minutes”, advises to stop and ask yourself “Where am I?”. If you stop, take a short pause, you can take control of emotions and make the right decision.

Double check the info

If in all transactions you look for common signs, not differences, mistakes will happen more and more often. The desire to prove one's own right and act on a pattern leads to losses.

In trading everything changes quickly. A beginner and a professional have equal chances to close a deal with a profit if they analyze the situation. To find the right solution you need to look for differences.

Be ready to fail

The desire to always be in profit will not lead to anything good. Traders who have resigned to losses in transactions earn more than others.

Good luck and profits!