"Daily practices of any skill you wish to learn led to achievement and success."
The important thing is to practice your skill regularly. Keep in mind, achievement hardly ever arrives on all of us instantly.
For instance, should you follow and consume a healthy diet plan the whole day, the following day; you will not discover any amazing distinction. However, in a month times, you will discover your energy levels has improved and will feel much healthier. On the other hand, should you follow and consume a crummy diet plan the whole day, the following day you will not really feel any distinction. In a month times, you'll notice the lousy effect on you.
One of the main reasons why it is difficult for individuals to stop themselves from falling into a bad habit in contrast to good habits is because in either case, the following day they're not going to feel or look different. It is a cumulative process. Therefore, when people fall into their awful habits, they do not truly suffer any kind of serious outcomes the following day or in a week times. However, put together all those daily bad habits for any twelve months or even a number of years, it will turn into a catastrophe.
The same will happened for engaging in good habits as the positive effects will not be seen in days or even weeks. However, performed regularly, in the long, you will be able to find success.
Same goes for trading in the stock market, you must not turn complacent for a few successful trades and believe that your bad habits will not harm you.
For instance, assume that you do not cut your losing trade once the stop point is hit, later, you found that you have ended up losing three times more than you had expected for that single trade.
Even though this does not result in any significant problem, nevertheless, if this bad habit is left unchecked, you will soon find your money being depleted from your bank account.
You need to cease these bad habits immediately and stops any losing trade with decisiveness.
Therefore, think and reflect about your trading methods. What exactly are your good habits? What are your own poor bad habits? Would you consider immediately acting on your technical trading calls? Handle risk properly? Select trades that the odds are in your favour? Would you research your company your purchase regularly? Exactly, what data have you been monitoring for the trading? Have you been objectively examining your research data and altering your trading method to obtain better result?
Writing down your trading and reflection are important for investment success. If you're lazy and want everything to be on auto pilot, you may wake up one day finding that Disaster is, in fact, staring in front of you.
