I have mentioned the following in one of my earlier post on how to stay profitable in markets. Its here for your reference.
Although there could be numerous ways to make money in stock markets but specifically these few are a must if you want to stay profitable.
- Always remember protecting your capital will ensure your long term survival. Like any other business failure rate is high and most people who come here to earn money end up losing their capital and hopelessly leave and never come back.
- Once your money management puzzle is solved next you should look at a strategy with which you are compatible.
- As all who are successful in trading/speculation say – “Cut your losses and let your profits run”. This is the most important advice you should adhere to.
- Be a learning machine by that I do not mean you watch news related to markets but reading about psychology, philosophy and other subjects as well. Learn as much as you can and make it a lifelong quest.
Talking about milestones that you can look forward to:
> Preserve your capital and start small. If you can do this for long your life expectancy
in markets will improve and you will be there when opportunity arrives.
> Stay consistently profitable which would require you to take small losses and hold on to the profits and take those profits slowly.
> Strive for superior returns and it will be easy if you are already doing the above mentioned.