Learn to become an independent trader

cungkring.com: The dynamics in the stock market will continue to put you at risk of loss, and in any case you must immediately get back up. If you feel discouraged and discouraged every time you experience a loss in trading, or your strategy fails to produce the profit you expect, then your life will be miserable.loss in trading is a natural thing; most successful traders must have experienced losses.

Risk and Reward Ratio

The difference between a successful trader and a non-trader is that most successful traders have a greater profit ratio than their loss.if your win ratio is far greater than your loss, you may only need to win 30% or 40% of your trade. 

The ratio referred to here is the ratio when you set taking profit and stop loss. The percentage point of profit taking should be greater than stop loss.example when you enter the BEST stock at 110, then you should target your profit taking 117 (+ 6%) and stop loss at 107 (-3%).

Other traders may win 60% or 70% of their trades, but their risk reward ratio may be equivalent (eg take profit 3% stop loss also -3%). In both cases, losses can still occur.but daily profits can still be achieved only if when you experience a loss in a trade does not make you discouraged. If a loss in one trade causes you to lose focus, then you will likely miss the opportunity to make a profit on the next trade.

Tough mentality

Streak losses also often occur.a trader must stay focused and rational in going through a losing streak and not let the loss of capital affect their judgment (which will worsen the situation).it takes mental toughness to stay focused on carrying out the trading plan or to realize that the market is not giving you a good opportunity to carry out your strategy.

A trader must be able to withstand a continuous barrage of losses from the market.loss is a natural thing in trading, but how do we act after experiencing losses that will make all the difference. 

After losing one, continue trading and continue to follow your trading plan.if you have followed the trading plan with discipline but still continue to suffer losses, then market conditions may not be favorable for your strategy. If so, stop trading for a while.sometimes traders who are mentally tough must be able to take the difficult choice of STOP trading.

Have Independence

In the beginning, you might need help in trading, be it from reading articles or books, watching videos on YouTube, or receiving guidance and recommendations in the telegram group etc.but in the end, you will place your trade and determine your own success.

In essence, a trader must develop a sense of independence, no longer dependent on others. Most traders choose this path because they consider it the most profitable.once you have a trading method that is suitable for you, you no longer need the opinions of others. You do what works for you, and stay focused on that.

Many traders must learn to become independent traders the hard way. They learn from one mentor to another, or buy various books and ebooks about trading.but there are still many traders who only rely on paid stock recommendation services provided in telegram groups, websites, applications, etc. And if they suffer losses, then they will only blame the service that gives them recommendations. 

The ends are traders who are not independent will always move from one premium group to another premium group.they don't know how to trade because they are too dependent on others. If you develop independence, take responsibility early to learn trading, then you will not have any more problems going forward.