THE MOST UNCONVENTIONAL TRADING TIP TO UPLIFT YOU FROM A ROOKIE TO ROCKSTAR IS -
TAKE EVERYTHING CONVENTIONAL SERIOUSLY
I know, the raw unprocessed trading or your personal style might be working for you so well. But there is a reason why most, if not all successful traders vouch for the fundamentals.
Markets are different every year, assets will be different and within a year there are multiple different phases. For ex, some days are news days, some are international event days, some trading days are project specific and some days are unseen and never happened like COVID phase.
There will be times when you would anticipate the market, always to a varied degree though. And there will be times that you can never anticipate.
When nothing will work, your grasp over the fundamentals will save you from getting huge dents in your capital, if it wouldn’t help you in expanding your portfolio.
But alas, I see so so many people that take the basics lightly. They rarely use stop losses. Or assess their risk appetite before jumping on a trade. And rarely ever people plan an exit. Let alone scrutinising the project history. Or getting done with, if its not your day.
May be you are the one who’s like SL.. SL, “I know we should minimise losses, stop throwing a 10 years old’s wisdom at my face. I stick to the screen. And I always take a comfortable exit.”
Okay, you might for now, while dealing with a single trade. Or minuscule Capital. But eventually as you grow, a system based on strong fundamentals will become a must or MARK my words - your journey here is going to be short lived.
As you will end up training your mind in a certain way, and destroying your trade psychology irrespective of how much ever smart you may think you are.
So learn implementing the conventional with utmost ease and make it your second nature before breaking and transcending it with your personal style and pioneering custom strategies.
There are no shortcuts to any place worth reaching.
