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10 Points for Traders

  1. Understand the psychology of the trade: never believe you are smarter than the markets as the markets will always win.10 Lessons
  2. Acquire the knowledge on how the markets truly work then test and retest your ideas and concepts until you feel confident.
  3. Develop a working knowledge of what types of entry and exit orders work best.
  4. Understand how to manage risk by employing the use of options strategies.
  5. Pick a strategy that matches the market conditions.
  6. Manage the strategy. You should always know what your next reaction point will be and what prompts you to take it.
  7. Watch what moves. To be successful, you have to become a media hound.
  8. Integrate fundamental, technical, and sentiment analysis into a real world trading approach that enables you to best understand market performance.
  9. Specialize in one sector and one strategy at a time.
  10. Give yourself the winner’s edge by always continuing to actively pursue the learning process.

Sex Is Spiking With The Markets

Must Read ..ffffThe odds are you’ve been having a lot more sex this summer than you did last winter.Research suggests that testosterone is closely linked to market performance as well as sexual drive and performance. Basically, all three…ahem…rise and fall together.  (more…)

Winning Attitude

Developing a Winning Attitude will stop negative thoughts from creeping in, and outside influences from changing your plan. Here are my thoughts about developing a winning attitude:

  1. A positive attitude enhances your market performance.
  2. Don’t dwell on losses if they are part of the system’s performance.
  3. Attaining a goal starts by having a goal. Avoid setting goals that cannot be achieved. Achieving your goals means sticking to your system each day.
  4. Achieving your goals means doing the homework before the market opens.
  5. Achieving your goals means placing all of orders ahead of time.
  6. Understand how your system is constructed and its maturity before you take the first trade.
  7. Achieving your goals means following through from start to finish.
  8. Focus on the next winning trade, and leave the last trade behind.
  9. Be organized, consistent, set goals and follow through.

Tells

tellTells: Look for them, and you will find them. Poker players and stock markets have tells — giveaway moves that are very revealing. Learn to recognize them. History is your textbook. (For example, improving corporate financials usually presage a rally; conversely, deteriorating financials usually augur poor market performance)

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