There are no hard written rules on this scene. And this is exactly what makes stock trading so exciting. Everyone speaks off their experiences—some of which fits individuals’ trading goals adequately, others fail miserably. (Ever wonder why you’re asked to choose your expert or consultant so very carefully?)
However, what majority of market gurus and trading experts collectively believe is that there are a range of mistakes that beginners MUST do away with to steer in the right direction. One of these mistakes, undermined and unessential-looking, is, in fact, the most important one that, consciously, makes or breaks the deal for new traders.
And chances are, it’s so hushed around the corners amid all the big hypes, you might not even know that you’re committing this mistake.
Do you have a trading routine?
Not having one can write you a failure story!
Whether you’re a full-time trader or the one with full-time job, stressing over having a routine might seem like too much of a fuss. Nonetheless, it’s more important that what is evident on the surface. Having a good and thoughtful routine guiding your action can maximize your ability to trade efficiently and successfully. After all, someone has correctly said— the secret of your future is hidden in your daily routine.
A distinct daily trading routine will bring clarity to your stress, make more room for creativity, tick-off more from your to-do list, and power-up your mental health—all adding up to improve your trading decision-making. You would enjoy much more control over your potential return rather than swaying with the changing trends. This would eventually become a habit. Small but daily improvements will form a pattern, elevating your trading skills to unmatched level from the day started following a routine.
How to set a trading routine?
Trading routine must always be in sync with your lifestyle—even when you trade part-time. It should include when you’re waking up, at what time you’re reading charts, when you’re setting-up your trades, when checking result, when doing technical analysis, and when sleeping. So how you set a trading routine generally depends on your overall lifestyle. Just see what better fits your distinct needs and requirements, and then go about making a realistic routine.
Indeed, having a well-planned routine is a small part in the puzzle. But it can make a significant difference in your trading decision. Like Austin Kleon once said, “establishing and keeping a routine can be even more important than having a lot of time.”