The second part of the nifty tips for stock traders is here! Read up and learn, my friends.

1. Set a certain amount to fund your account.

Always make sure that you trading account is properly funded. And as you know, it might be hard to keep your funding up to date. After all it might require more than you thought and with time it only gets more and more expensive.

So it is better to set a certain amount of money aside for your trading account to always be properly funded, so that when you need to fund it you do not need to dig into the savings or take the money out of your family budget.

My advice – just take a certain amount every month from your paycheck. That is the safest way for funding your account.

2. Time your trades.

There are better times for trading at every segment of the market. There are better times to enter equity trades, there are better time to enter commodity trades and there are better times to trade stocks.

What is the best time to purchase stocks? Opening hours. The span of one hour after the opening of the market is considered to be the best time for buying stocks. The rest of the day is just too volatile for trading.

Remember – the scopes of 15-60 minutes after the opening are the best for dealing with the assets.

3. Set realistic expectations.

While it is good to strive for the stars, you better not think that you are going to get your first million by the end of your first week. It is a process that takes time and effort. Of course, there are those who are getting lucky, but they are more of an exception rather than the rule.

It is better to lean on your average-per-day numbers before making any kind of calculations and earnings prediction. After all, setting too high expectations is not really going to help you. you are only going to hurt your feelings by not reaching your trading goal.

4. Live by your trading plan.

Before starting to trade we all made up our trading plans – lists of what we are interested in and what profits we expect to make. What numbers of trades per day we want to out down and so on and so forth. Of course with the flow of time the data can change as we are getting smarter and gain experience, but in general the numbers are staying the same.

Live by your trading plan and stick to it no matter what. It is going to help you in a lot of ways.

5. Never stop learning.

We have covered this so many times, I won’t stop here. Just remember, that markets are never against those who are willing to learn and adapt to the new circumstance.