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The biggest problem for traders of the stock market is that they can often be their own worst enemy, and this can directly be attributed to a lack of discipline. It is very easy to become emotional and not follow your written trading plan, and this can quickly snow ball into massive losses on the markets. By simply following a set of logical and structured rules you can very quickly realize consistent profits in your brokerage accounts from your trading activity on the stock market. The following basic rules serve as a simple guideline that will make you consistently profitable in no time.

Rules For Successful Trading On The Stock Market

1) Open a virtual account with your brokerage house, and start trading with their simulator. Attain a success rate of at least 75% on your virtual demo account before you start to trade on a live market. You can't trade properly if you have the stress of paying your rent, it will only lead you to take on a massive loss. Trade only when you feel that you will be logical and not make an emotional decision. Don't focus on making money, but rather focus on making good trades.

2) When you have developed a successful trading style on the simulator, STICK WITH IT. There is no shortcut to wealth. Making money is the easy part, learning how to manage it is what requires practice.

3) mens ugg boots Never compare yourself to other traders. You have your own style, and you will be successful if you don't constantly negatively compare yourself to other traders.

4) Don't over trade. This is a killer for many traders because It's easy to throw away profits if you get greedy.

5) Remain detail oriented at all times, and ignore the "noise" of the talking heads on the business news. Focus on winning one trade at a time.

6) Learn profitable chart patterns that repeat time and time again, and play those patterns for guaranteed profits.

7) If you ever find yourself becoming emotional and losing five (5) trades in a row, STOP TRADING immediately. Take some time off the markets and paper trade again with your demo account until you become profitable again.

womens ugg boots Ashbee A. Bakht is an international best-selling author who holds a degree in psychology from Brock University, Canada and he attained his postgraduate education in minerals and mining at the prestigious Norman B. Keevil Institute of Mining Engineering, at the University of British Columbia, Canada. Ashbee is a commodities trader and arbitrage specialist who trades crude oil, gold, silver, and other base metals.