What lessons did you learn from trading that you do not want to make next year? What are your advice to newbie traders?
If I have learn one thing about trading this year, it is about trading too frequently, even when their is no clear reason to enter the market.
I have learnt that trading like a hunter is the best. It is a pattern where you will wait, wait and wait until a money making opportunity comes, that is when I started making progress, that's why I believe that trading is 90% patience and 10% execution, because without being patience when trading, you will never be profitable in the market.
My advice to newbies traders is very simple, which is they should pay more attention to their greed level and use it to their advantage, because greed is very important in trading, because if you are not greedy, you cannot make serious money in the market, because you will only be running away with little profit when you would have made a lot of money, if you had waited a little longer, so it's only when you are greedy you can make big profit in the market, that can change your financial situation. So my advice is that they should not see greed as a bad component, but they should use it properly, not in excess.