Posts

Showing posts with the label successful-traders-strategies

TEN GOOD REASONS TO AVOID DAY TRADING

Image
TEN GOOD REASONS TO AVOID DAY TRADING


Day trading isn’t right for everyone. In fact, it’s a bad idea for most people. It requires a strong personality, someone who can face the gyrations of the markets day in and day out. And it also requires someone with enough attention to detail to run a business. It’s a great career option for the right person in the right circumstances. But for people who have trouble keeping cool, who don’t have the patience to learn how to trade, and for anyone who has a gambling problem, day trading can be a quick road to ruin.
I list ten signs that maybe day trading isn’t right for you right now. Take them seriously. Most day traders lose money, in part because a lot of people who aren’t cut out for day trading try it anyway. Don’t fret if it turns out that you aren’t day trader material. Most people aren’t.
You Want to Learn Investing by Day Trading
Many people want to manage their own investments, and it’s certainly possible. It requires taking the time to lear…

MANAGING THE STRESS OF THE MARKETS

Image
MANAGING THE STRESS OF THE MARKETS



Day trading can be a ruthless business. Some days, you don’t find any trades worth making. Other days, you find trades, but they don’t work out the way you want them to. And some days, there are too many good trades, more than you can possibly make, and so you watch profitable opportunities slip away. When you’re working with real money, it can be too much to take.
In a money management or brokerage firm, traders have tremendous camaraderie. They are working for the same employer and need to stick together to blow off the stress. What do you do at home, though? How do you keep from panicking, getting depressed, or otherwise letting this business hurt your profits and hurt you?
If you’re going to day trade, you need to understand the very real physical and psychological stresses that the market pushes on its participants. In this chapter, I offer some information and advice that can help you avoid a crisis.
First, the Cautionary Tales
Trader lore is loaded…