7 Often Ignored Day Trading Tips

Post on 20-Feb-2017

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Transcript of 7 Often Ignored Day Trading Tips

Failure in trading does not

have to happen to you.

Day trading tips that I

have found particularly

useful over the years.

1. Take full responsibility

for everything that

happens.

Whatever happens, take

responsibility for it.

2. Don't focus on the

money.

Focus directly on the money

=

makes us do some silly

things

Price will do what it’s

going to do.

Trade the plan

Period

Keeping your eye off of

the profit/loss column can

do wonders for your

consistency.

3. Accept that risk control

is paramount

Profits add to your

account but the losses can

take you out of business.

Take The Stop

Watch the stop area

4. Be stingy with broker

fees and other costs

Use what you need and

nothing more

5. Accept that a winning

trade against your rules is

a loser

Rewarded for lack of

discipline is unhealthy

6. Set your trading

business hours

Trade your times.

Double-edged sword

7. Trade from a balanced

frame of mind

Our psychology has

a massive impact on

the success or failure

we will find.

Mediation

Music

Affirmations

The Biggest

Trading Tip Of All

Have defined rules for

entry, exits and risk

management

Perfect does not exist

Unconditional

commitment to trade

according to the plan

It’s a challenge to ignore

what you know

Great examples of this

last tip are the trading

systems and strategies

that Netpicks offers.

Counterpunch Traderwww.netpickscounterpunchtrader.com/

Options Masterywww.netpicks.com/optionsacademy/