3% return per day/week ….

Rachit Jain
Sep 7, 2018 · 1 min read

A quick rich mentality…

The bottom line is, we trade to make money. But following the money is a bad move.

New traders often focus so intently on making money that their trading plan and process goes straight out the window. Many traders have percentage or monetary targets per day or week to achieve. This isn’t the most logical way to go about trading because we’re not in control of what the markets will offer. If the markets are quiet and you still have to make your 3% per day or whatever, then you’ll likely start chasing trades that aren’t there.

Instead, look at trading as a long term business, where you’ll see profits in periods, not everyday. This outlook will automatically encourage you to look past the money and focus more on the process. As soon as you have a trading plan that you have 100% belief in, then you’re at a huge advantage to most failing traders. This obsession with the trading plan and process will mean that you’ll become desensitised to the losses and the profits will take care of themselves. Chasing the money will just lead to a myriad of mistakes and stress that can be so easily avoided by a slight adjustment to your psychology.

Rachit Jain

Written by

Trader who is sharing his Technical Analysis knowledge.