If you are interested in trading stocks this is good information for you to look at. There are six easy steps to follow here. If you do you could get better at trading. It can be a tricky market to get into so any tips are always good to read even if you don't choose to use them.
Key Takeaways:
- One trade is meaningless as it’s a large number of trades that will set you up for failure or success. Your losses, if following your edge, will eventually lead to the winning trades.
- Seek a beginner’s market where you can risk 2% or less per trade with a $5000 account. Many traders with a small account may appreciate markets like the YM, Nasdaq or even Forex when they start day trading.
- Rome wasn’t built in a day. Don’t think you can take internal ownership by short-cutting this step Back testing is boring (I still prefer doing it by hand…bar by bar) but without it you will not fully trust in your trading system.
"In other words, understand that we make money from the edge that our trading system gives us over a big basket of trades. One trade is meaningless as it’s a large number of trades that will set you up for failure or success. Your losses, if following your edge, will eventually lead to the winning trades."
Originally published at 6 Step Guide To Mastering Day Trading Like A Pro
No comments:
Post a Comment