I’ve been trading for 17 years and one of the most important lessons I have learned is that it is better to day trade instead of long term trading. Buy and hold is no longer a profitable strategy. We could debate why this is true forever, but that is beyond the scope of this article. The best thing you can do to turn your trading around is to forget the buy and hold mindset. Leave that style of trading behind.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you become much richer than you are today.
I have been the head trader at several brokerage firms, a Market Maker, and currently I’m a private hedge fund manager and here are some tips of advice:
You need to trade so that you make consistent short term profits. You want cash flow in the market. Really get in there and do it for all it is worth. Don’t try and swing for the fence on every trade. Never get emotionally attached to a stock, get emotionally attached to the idea of making money small bits at a time. This is the way you need to do it.
For me all stocks are equally worthless.
Do not live in a fantasy world that the stock you are holding will keep going up and provide a sweet retirement for you.
I could care less which way the market goes. It doesn’t matter to me if the market goes really high, drops or moves sideways for the next 40 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin. That is why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you will probably see the most volatility and the biggest opportunity for profit during the first hour of the stock market’s opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you will miss the big, fast moves that stocks make as all the amateurs let their emotions out through their online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
Related posts:
- Need To Trade Stocks? Get Your Free Stock Quote First Free stock quotes are valuable for taking a look at...
- Learn Stock Trading- Three Keys To Your Financial Kingdom Are you ready to strike out and learn Stock trading...
- Discover The Excitement About Free Virtual Stock Trading Be an informed investors when it comes to stock trading....
- Stock Investment Research Guidelines To Dump Stress This era presents a huge quantity of chances to invest...
- Make Money Trading - An Appraisal Of Strategies Of Successful Traders The Methods of Successful Traders electronic book is an effort...