Most people who earn money on markets believe that the answer lies in finding simple technical analysis strategies that will put them back on profitability. The truth is that trade is not as easy as beginners believe. This is a profession and, like any profession, requires a learning curve. Reading a book or getting some simple "tips" will not become a professional merchant.
If you are studying for a long time, it is not uncommon for students to start searching for the "holy grail". 19659002] Search for multiple metrics, chart patterns, gurus, alarm services or the latest secret trading strategies and other things that will provide the answer to success.
But here's the fact. Success is inside … and it will not be easy.
In fact, one of my favorite success principles is the following:
"Successful people do what unsuccessful people do not want."
this "day trading rule to live" list … … we all have to do more with you than on the market.
- Consistency is in your mind, not in the market. Many people in the market are frustrated because the market often behaves differently than expected. You can not rely on the market to be consistent. This is mostly a random walk. But there are times when the market sets a probability scenario that delivers pleasure. It is your job to consistently trade these probability settings and trade them every time they occur.
- Trade like a cat. Most starters over trading. This is one of the most common commercial crimes. Your job is to be better than other day traders in having discipline to wait like a cat to brush until just at the right moment (most likely setting) and then jump to trade without hesitation
- Successful trading is simply a game does not blame. Keep up-to-date with daily trading rules on your wall or monitor and follow these rules perfectly. You have to be more disciplined than the average trader. Never deviate from its rules, regardless of how "looks" or "feels" the trade if it violates objective and confirmed rules.
- Trade only when you are in an optimal emotional state. Never trade when you are tired or emotionally unstable (after you are fighting with a spouse or friend). Daily trading is more like athletics than instructors. Trading in such a short time requires you to make double decisions and risking a lot of money. Make sure your mind is sharp and your emotions are centered.
- Keep a detailed commercial diary. The daily trading course I've seen has a trading diary. Still, my experience with my commercial students shows that less than 10% actually use them. This is a huge mistake. Not only do you have to sign up for every trade, but you have to note how you feel and what you think while taking the trade. So logs will be a kind of "biofeedback" mechanism for you. Personally, that was the difference that made all the difference for me.
These 5-day trading rules are not the rules they are likely to look for. The masses want rules about the indicators, the grid bars where you get in and where you get out.
I let you clearly need clear objective rules for these things. Yet thousands of traders have this kind of rules, but they still fail because these rules apply to market action.
Do not succeed because you do not or do not follow the most important rules of your own
If you find yourself resisting these rules to the importance of your own behavior, then you realize that you are one of those masses who feel the same way. But since the masses are not met in daily trading, you have to make up for yourself and do something else.
These are 5-day trading rules that retailers do not do. Not because they can not do it, but because they do not want to do it. And remember, "Successful people do what unsuccessful people do not want."
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