 |
|
The source of the best business, financial and legal news |
|
|
||||
|
||||
|
||||
|
|
|
|
|
 | |
| |
 |
Business Informations |
|
|
|
Need To Trade!
You don't HAVE to be trading. As a novice trader, you'll often feel the need to trade. You may be bored or frustrated. Or you just want to try a certain type of trade. STOP! Realize that you don't have to be trading all the time to be successful. In fact not trading is often the very best decision you can make. The market tells you when to trade. If you feel the urge to place a trade or find yourself chasing a trade, walk away from the computer. Better still; take the opportunity to meet a friend for coffee. The trades you do when you're feeling the "need" will usually be lemons - and leave you with a very bitter taste in your mouth! They will usually not have clear signals, but you've convinced yourself they are there. After losing your premium, or much of it, you'll look back and wonder how you could possibly have entered that trade. It's happened to all of us, so don't be too hard on yourself. Just don't do it again. The market is going to do what the market is going to do, not what you need or want it to do! And remember the old saying, "If you can't see it, it's not there". So if you stand back from your computer and the chart pattern or signal doesn't jump out at you, it's not there. Easy is Best The novice is constantly staring at charts, looking for and often inventing signals. If you have your strategy in place and you wait for the patterns to form, your entry points will FEEL easy. They will be obvious - you won't need to be searching for them. Write It Down Remember to keep a log book. We keep one, which includes any potential trades - those which look like they will possibly provide an entry in the near future. It's good to see if they eventually develop into a trade. It will help guide you up to a point where you make a decision whether to enter, or to leave it alone. Also, when you enter a trade, log it in your book with a few details and, commit to a stop loss point and a profit level where you will be happy to exit the trade. Remember, don't be greedy - or you'll see your premium reach that point, pass it and quickly drop back past your original exit point. You'll then see how you would have been happy to exit at your prescribed price! Much of the time there won't be any trades for you to enter, so it leaves you with plenty of spare time for gaining extra knowledge and enjoying life. You probably won't trade more than a few times a week. So, you can see, there's a lot of time to be analysing charts - and feeling the NEED to trade. Be strong and disciplined! We are not providing you with financial advice. We are simply sharing with you what has and hasn't worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor. David Chandler For your FREE Stock Market Trading Mini Course: "What The Wall Street Hot Shots Won't Tell You!" go to: http://www.stockmarketgenie.com
MORE RESOURCES:
investing - Google News |
|
|
|
RELATED ARTICLES
How Eating Bitumen Made Me a Better Stock Trader Stock market trading is a fascinating activity.There are so many layers to it. For Entrepreneurs A SIMPLE Plan May Be Best Q: I own a small decorating business and I'll be the first to admit that I don't know anything about taxes or retirement plans. I'd like to set up a 401(k) or an IRA or some other kind of retirement plan for me and my three employees. Use of a Franchise Business as a Family Tax Planning Strategy Suggesting the use of a franchise business as a vehicle for family estate and tax planning. Specifically using as an example, The Car Wash Guys, a portable car wash franchise, where you will be purchasing a completely designed and outfitted car wash truck and the right to develop a specific city or regional area with out of pocket start-up costs between $25-50,000. Well Managed Investing Risks Bring Rewards! "Risk comes from not knowing what you're doing!" Warren Buffett (1930 - )We often listen to people who hesitate to invest in the stock market because they fear risk. There are older people who fear that a stock crash could leave them destitute. Franchise Opportunity Sellers Beware; franchise buyers lie on forms? It seems completely absurd that franchise buyers lie about their financial position, available cash and abilities in order to buy a franchise. After spending 8 years setting up franchises around the nation and fielding inquiries I am appalled at the lack of integrity of the average business buyer. 5 Things To Know About The Stock Market 50% Of U.S. A Gadfly On A Dinosaurs Butt, Or The Hood-winking Of The American Investor Have you ever noticed how some words in the English language are so perfectly named for what they describe? And how some words seem to be, I guess you could say, backwards? For instance, the word sunflower! How wonderfully aptly named is the sunflower, that beautiful yellow flower that follows the sun from sunrise to sunset.And then there are those words in the English language where there meaning appears to be backward, so to speak - like parkway and driveway. Emotions: A Traders Worst Enemy; Get Rid of Fear and Greed - Youll be Glad You Did You hear it over and over and over in books, forums, and chatrooms. Fear and greed, fear and greed, fear and greed. Exchange Traded Funds They call 'em ETFs.There are hundreds of them. Beta Factors: How They Can Be Used In The Current Situation Ever since the turn of the century, world stock markets have been very volatile. In other words there have been significant movements (up or down) in share prices. Maniac Investment Let's first understand what maniac means. According to Webster a maniac is "mad; raging with madness; raging with disordered intellect". 5 Ways To Protect Your Bond Portfolio From Rising Interest Rates The Federal Reserve recently raised its target federal funds rate for the first time since March 2000. This could be just the tip of the iceberg, though, as many experts believe rising inflation and a strengthening economy will spur continued rate hikes for the foreseeable future. Variable Annuities You know all the articles you read about annuities that have extremely high fees? And the ones that people lose a lot of money in? Well, these are better known as variable annuities. yes, they do have some advantages. Brain Snappers and Other Wall Street Nonsense The last time you spoke with your broker did he use any of the following words? Diversification, Price-to-earnings ratios, discretionary trading, lifting a leg (he's talking to you not your dog), leverage, divergence, fee-based compensation, escalator clause, tactical asset allocation and other mesmerizing words to place you in stupefying shock.Brokers do that to let you know that you don't know anything about the market and you must allow them to make decisions for you. Asset Allocation Lessons: The 70% Inflation Solution For investors only.. Missleading Fund Names Wreak Havoc On Investor Returns! Mutual fund managers use fake fund names to part you from your money such that you cannot judge what a fund does by its name. Many funds have names that are outright misleading or even deceptive. Buying a Home - Your BIGGEST Investment This column has often focused on intangible investments like stocks that a young investor might hold in their portfolio. While these are one of the most important components of an investment plan, it is not the dominant one for most young people. How to Invest Your Money Think carefully on how to invest your money because if you make wrong decisions it could cost you dearly. There are many ways in which to invest your money and as such seeking the advice of a professional would be a very wise move. An Introduction to Offshore Investing Once upon a time, offshore investment strategies were spoken of in hushed tones. They were conversations restricted to the plush offices of private Swiss bankers, or a dinner table topic in the expensive playgrounds of the multi-millionaires. Wit and Wisdom on Money, Wall Street and Success - Part #1 I love to collect quotes as they concisely promote a philosophy which is readily understandable.In my 25+ years of investing I have collected hundreds of quotes related to Wisdom, Wall Street and Success.
|
| home | site map |
| © 2006 |
|
|
|
|
|
|
||||
|
||||
|
Comment by Frank O'Donnell
