Weekend can be a bit boring for many full time and part time traders. There are, however, some people who will disagree. Weekend in a trader’s life is very important as it rejuvenate them. However, StockMony team studied and revealed 6 points that are weekend habits of a successful trader.
1. Wake up early
Weekend is the best time when a can earlier than the rest days of week and make the best use of Saturday and Sunday. One can do things which are different from normal days. Firstly, It is advisable to sleep early in order to get up early in morning. Secondly, one should keep away from electronic gadgets.
Waking up early is best habit that can be adopted by every trader, as you can plan your day well in advance. One should be positive and thank god for what he gave you also for the successful last week.
Regular workout has always been the part of a successful trader’s routine, as it keeps them healthy. Regular days can create tension and lot of pressure . There are many reasons to do regular exercise. Above all, It keeps you healthy and wise.
You feel refreshed and relaxed after doing exercise. It prevents you from falling ill and also keeps you away from doctor. It is advisable to do 5-10 minutes of regular exercise.
3. Analize last week trading statement
Successful traders always learn from mistakes. Fault that was done in last week should not be repeated in next week. They always calculate the profit or the loss incurred from market. One should never burn hands in the same mistake repeatedly.
If you find that you are positional trader then follow positional rules. If you find Intraday profitable then follow Intraday rules. If you feel greed is taking all your capital then place your stoploss earlier than your predicted range.
4. Make your own Watchlist
No one is born trader. Everyone learns by trading. Always have your own watchlist so you do not have to depend on others stock and you can monitor them well. When you have your own set of stocks, you will know better when to short them or when to buy.
Every victorious trader will be having a personal watchlist. Above mentioned watchlist is just for the sake of example.
5. Track news daily
To win the game, you need to be in the game. One has to be updated with the latest possible news. Every second there is a new news. Unlike a successful trader, one can download news application on mobile and go through them once in a day. Of all the weekend habits a successful trader generally keep himself updated.
Latest news can help you a lot in making a good trade whether technically or fundamentally. You will be able to make advance decisions.
6. Enjoy life
Many people chose stock market trading as their full time job, whereas, others do it part time along with their job. At the end of day everyone wants to be happy and successful. Traders generally live their life to the best on weekends. Either they go out for a weekend or they do something that makes them really happy. Like I write blogs, for my viewers so someone can gain knowledge and make profits from market.