|
I found that the first key to consistently profitable trading, is
having loads of different trades available. It makes sense - if you
want to make a profit every day and you are only watching one or two
futures - if those futures don't move much, life is going to be pretty
tough that day.
Most of the super-profitable traders I found got round that problem
the same way - they were focussing on stocks, because there are
literally thousands to choose from. With so much choice, finding
profitable trades every day becomes child's play - they jump right off
the screen at you - if you know where to look for them.
Knowing where to look was the next hurdle. As I continued my research,
I again found that the mega successful traders were all using similar
methods for picking out which stocks to trade each day. What amazed
me, was that with just a little "work" each morning, they were able to
uncover those stocks before the market even opened. In other words,
they could pick a bunch of stocks that they already knew were going to
give easy profitable trades, before the trading session started.
The last step of this fascinating journey was to discover how to trade
these stocks for maximum profit and minimum risk. Again, I pestered
and begged my new mentors into submission, until they showed me their
ridiculously simple (and almost disgustingly profitable) trading
setups.
All the pieces fell into place like a kids jigsaw. I saw the whole
picture for the first time. It felt like some kind of awakening. I
watched in awe as, trade after trade, these guys (and girls) sat there
calmly sipping their coffee, watching their charts, in many cases
without any indicators, and entered trades with miniscule risk. Time
and again, the charts would then shoot off in the expected direction,
and the balance on the traders accounts would follow suit.
It was like playing a fruit machine that wins every time, churning out
piles of cold hard cash. It was incredible, and more incredible was
that it was so simple to understand.
On the rare occasions that the trades didn't work out, the losses were
absolutely tiny - insignificant compared to the losses I had become
accustomed to in my own trading.
Well as you can imagine, after all this research my own trading turned
around completely. I was like a different person. Gone were the
anxieties about losing, the desperation to find good trades. I stopped
handing over my cash to the markets and instead, I was in control. The
market started handing me money. Finding profitable trades felt as
easy as picking up great piles of fifty dollar bills from a street
littered with money. It continued day after day, week after week,
month after month...my account balance was suddenly propelled to
dizzying heights.
Before long, I too disappeared from the forums and chatrooms - I too
had better things to do with my time. I had become one of the 5%.
Soon, many of my trading friends started asking for my advice about
trading. That was how I found myself coaching other traders in the
methods I had discovered through my own hard research.
http://daytradegs.blogspot.com/#
|
| |
| |
|
