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The Deadly Money Management Mistake New Stock Traders (Always) Make

There are no hard-hitting rules to become a successful stock trader. However, there is a broad 3-step flow that the newbies must adapt to stay on the right track. It includes the right trading strategy, a money management plan and discipline.

Out of these, the middle one is the most overlooked. While people make strategies of how and when there are going to trade, and they also have a right mindset, few of them really care about having a thorough money management plan. And needless to say, it is one fatal mistake that stops them short from optimizing their returns.

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11 Important Insights from the Lives of Successful Stock Traders

While successful traders aren’t some out-of-the-world entities, they do have ideas, habits and strategies that are slightly different from that of not-so-successful traders. Although underestimated and underrated, learning from what they do (and what they don’t) can be quite resourceful for individuals looking to make a sustainable and high-rewarding stock portfolio.

Are you a trader?

Here are 11 important insights from the lives of successful stock traders that you can learn from:

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Becoming a Full-Time Stock Trader: Perks and Challenges

As human beings, we all want security. And this puts us off taking stock trading as a full-time profession. Filled with too much of fluctuations and uncertainties, only a handful of people dare to give up their safe jobs to venture this path. Even after so many years and countless success stories, still, trading is a “side income” for majority.

“It’s heaven, really. The rewards are seamless if you’re smart,” says a professional who trades full-time.

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The (Biggest) Psychological Difference between Successful and Not-So-Successful Traders

The idea – proliferated by countless books and articles – that successful traders are more intelligent and big risk-takers is nothing but completely flawed. And this fictitious belief is the first stumbling stone for the new traders on the path to higher returns. Many of them start their journey with certainty that they would need to be genius at the technical-end.

Are you new to trading? How are you trying to match (and learn from) the habits and lifestyle of successful traders?

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How Much Money Can You Make as a Stock Trader?

“How much money can I make as a stock trader”—this is the foremost question that almost every new trader asks. And it’s a legit question. After all, few would want to take the hassle and risks of trading when the return isn’t up to the expectations.

Sadly, as straightforward as the question is, its answer isn’t. So if you’re looking for a clear-cut, definite figure, it doesn’t exist. Return from your trade is only as high as your smart strategies. The more calculated and informed your moves are, higher will be the return.

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5 Risk Management Tips for the New Stock Traders

Risk management is an art that comes with experience. It’s an integral part of successful trading. Sadly in the mix to find “best strategy” and make money quickly, many new traders miss this.

At large, stock trading is all about balancing risks- finding that sweet spot where risk is low and reward high. Every decision you take, every move you make is directed to avert the involved risks and maximize returns. And for this reason, having a separate risk management plan is no less than essential.

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5 Insider’s Tips To Increase Your Trading Performance (Quickly)

The idea that top stock traders are some kind of prodigies with outstanding dexterity is nothing but flawed. They aren’t genius—neither do they know anything exceptional. The only difference that separates them from an average trader is that not only do they know what needs to be done—they also know how to do it.

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