7 often ignored day trading tips
TRANSCRIPT
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/