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5 Vital trading resolutions to start 2021 on a successful note

by , 14 January 2021
5 Vital trading resolutions to start 2021 on a successful note
Q. “Hi Timon, I need your help.

I realised in 2020 that I really need to find a second income… Lockdown has put a major strain on me and I've decided to learn to trade with you and invest with Joshua.

Can you please tell me some trading resolutions, I can set for myself to start off on the right foot?”

 
A. I’m so glad you asked this question. I absolutely love kicking off the year with my five most important trading resolutions.
 
Here they are:
 
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Resolution #1:
Deposit a bit of money every month to boost your portfolio
 
The only way a trading portfolio will grow is with MORE money.
 
And so make sure, every month you set a date to deposit a portion of your savings into your portfolio.
 
It can be from R500 to R20,000. It all depends on what percentage of your income, you’re willing to add into your trading account.
 
This way, you can accelerate your trading portfolio in 2021.
 
Resolution #2:
Only take a trade when your trading strategy tells you to
 
Most people lose money when trading as they try to trade on intuition.
 
They rather base their trading signals on gut feeling. And this is most of the time, if not all the time, a losing financial situation.
 
Whether you have a profitable trading strategy, following my trading ideas through Red Hot Storm Trader or you’re adopting a trading strategy like my MATI Trader System – KEEP AT IT…
 
With a profitable trading strategy, make sure you stick to your signals with every trade that lines up this year…
 
Resolution #3:
Set aside 15 minutes a day to trade
 
We both know that when you sit down to watch Netflix or scroll through Facebook, hours can fly by which feels like seconds.
 
That’s why we need to put our foot down. 
 
I want you to cut down on your TV watching or social media browsing, and dedicate just 15 minutes a day to your trading.
 
Resolution #4:
Stop distractions interfering with your trading
 
During those 15 minutes of trading, you’ll need to make sure your phone is on silent and the TV is off.
 
You need to full concentration, finding good trading setups or monitoring any trades you have opened.
 
Also…
 
Tell your family or friends that for 15 minutes a day, you cannot have any one distracting you when you trade.
 
These boundaries will help you trade with a clear and undisturbed mind.
 
You can even stick a note on your door saying: “Do not disturb for the next 15 minutes”.
 
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Resolution #5:
Write your trading goals for the year
   
Do you have an idea of how many trades you’d like to take a year?
 
What about how many are winners or losers? And do you know what percentage you’d like to bank of your portfolio this year?
 
If you have a proven and tested trading strategy, then jot down these stats and have it up as your vision board.
 
This will guide you on the path to your expected trading performance.  
 
That should do it…
 
You have a lot to prepare for and profits to reap in 2021.
 
I thank you for being with me for another year with FSP Invest’s Trading Tips.
 
It is my privilege and passion to help you improve your trading performance and we have a lot of new projects that will help take you there.
 
Remember, if you have any other trading questions to start off your year you can ask me by clicking this link…
 
Trade well,
 
Timon Rossolimos,
Managing Editor, Trading Tips


5 Vital trading resolutions to start 2021 on a successful note
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