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Electronic Day Trading Article
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ÿþT e c h n i q u e s t o B e a t B a r r i e r s i n D a y T r a d i n g
from:I t h a s b e e n s a i d t h a t y o u m u s t f a c e t h e t h i n g y o u f e a r , a n d y o u d o a w a y w i t h t h a t f e a r .
F e a r i s a n i n g r e d i e n t o f l i f e . D i f f e r e n t i n d i v i d u a l s h a v e d i f f e r e n t t y p e s o f f e a r . S o m e h a v e s h a l l o w f e a r s , o t h e r s h a v e e x t r e m e l y p r o f o u n d f e a r s . F e a r s a r e f o r h u m a n s . T h e b u s i n e s s i n d u s t r y s u c h a s d a y t r a d i n g h a s i t s o w n f e a r ; t h e y c a l l i t b a r r i e r s .
B a r r i e r s a r e a r o u n d a t a l l t i m e s f o r n o a p p a r e n t r e a s o n . H o w e v e r , t h e r e i s n o r e a s o n w h y y o u s h o u l d b e o v e r w h e l m e d b y b a r r i e r s e s p e c i a l l y i f a g o o d s u m o f m o n e y i s a t s t a k e . W i t h t h i s y o u n e e d t o t h i n k o f w a y s t o b e a t t h e b a r r i e r s y o u n e e d t e c h n i q u e s f o r a s u c c e s s f u l d a y t r a d i n g .
E d u c a t e y o u r s e l f
T h e r e i s n o b e t t e r w a y t o p r e p a r e y o u i n t o b e a t i n g t h e b a r r i e r s t h a n e d u c a t i n g i t s e l f . O n c e y o u h a v e f a m i l i a r i z e d y o u r s e l f w i t h t h e i n s a n d o u t s o f d a y t r a d i n g , t h e n y o u c a n b e c o n f i d e n t t h a t y o u w i l l w i n , i f n o t h a l f t h e b a t t l e a l l o f i t .
Y o u n e e d t o u n d e r s t a n d t h e d a y t r a d i n g m a r k e t . Y o u n e e d t o c o m p r e h e n d w h y a t r e n d g o e s u p o r d o w n , w h y c h a r t s s e e m t o v a r y f r o m o n e t i c k o f t h e c l o c k t o t h e o t h e r .
P l a n a h e a d
S i n c e m o s t p e o p l e v i e w d a y t r a d i n g c l o s e t o g a m b l i n g , i t i s s u g g e s t e d t h a t y o u c o m e u p w i t h a t r a d i n g p l a n t o b e f u l l y e q u i p p e d w i t h y o u r b a t t l e .
A t r a d i n g p l a n w i l l b e y o u r g u i d e t o h e l p y o u p r o g r e s s f r o m t h e s t a r t i n g p o i n t t o t h e e n d p o i n t o f y o u r d a y t r a d i n g g o a l s . I t w i l l s e r v e a s y o u r m a p t o d e m o n s t r a t e w h i c h p a t h s a r e g o o d t o w a l k i n t o a n d w h i c h p a t h s t o a v o i d . B y d o i n g s o , y o u w i l l a v o i d g e t t i n g t o o m u c h l o s s e s .
M a n a g e m o n e t a r y r e s o u r c e s
M o s t d a y t r a d e r s f a i l d u e t o t h e i r i n a b i l i t y t o p r o p e r l y m a n a g e t h e i r f i n a n c e s . I t i s a c o m m o n p r a c t i c e f o r d a y t r a d e r s t o a l l o c a t e a s p e c i f i c a m o u n t o f m o n e y a n d t h e n h a v e a l o a n o n t h e e n t i r e m a r g i n . B y d o i n g s o , s o m e d a y t r a d e r s l o s e a g o o d s u m o f m o n e y i n s t e a d o f g a i n i n g t h e m .
I t i s n o t a l l a b o u t g i v i n g o u t m o n e y ; i t i s a b o u t w i n n i n g b y t h i n k i n g . I f y o u o b s e r v e t h a t t h e m a r k e t f a l l s h o r t o f m e e t i n g y o u r c h a n c e s o f g a i n i n g p r o f i t , t h e n i t i s t i m e t o t h i n k f a s t o f s t r a t e g i e s t o p r e v e n t l o s s e s .
S e l l s h o r t - t e r m s t o c k
I t i s r e c o m m e n d e d t h a t i f y o u h a v e s h o r t - t e r m s t o c k w h i c h s u f f e r s f o r t e n u n i n t e r r u p t e d t r a d i n g d a y s i t i s b e s t t o s e l l i t . T h i s i s d o n e t o p r e v e n t t y i n g w e a k s t o c k s t o y o u r c a p i t a l . B y d o i n g s o , y o u w i l l a v o i d a n y p i t f a l l s o v e r y o u r c a p i t a l .
I f y o u h a v e s t o c k s w h i c h a r e l i k e l y t o h u r l f o r o v e r 2 5 % o n t h e f i r s t t h r e e t r a d i n g d a y s , i t i s w i s e t o s e l l o n e - h a l f o f i t . A c c o r d i n g t o m a r k e t t r e n d s t u d i e s , i f y o u s e l l a n y s t o c k w h i c h h u r l s 2 5 % o r f u r t h e r d u r i n g t h e f i r s t t h r e e d a y s , y o u a r e m o r e l i k e l y t o g a i n p r o f i t .
D a y t r a d i n g t e c h n i q u e s a r e e v e r y w h e r e . A l l y o u n e e d t o d o i s p a t i e n t l y c o m p i l e t h e m w i t h i n y o u r b o u n d s . O n c e y o u h a v e t h e m , h a v e a t h o r o u g h c o m p a r i s o n o f t h e a v a i l a b l e t e c h n i q u e s y o u h a v e . F r o m y o u r t e c h n i q u e s c o m p i l a t i o n , i t i s w i s e t o s e l e c t w h i c h o n e s w i l l b e s u i t a b l e f o r y o u .
Y o u s h o u l d n o t s t o p t h o u g h , c o n t i n u e s e a r c h i n g f o r d i f f e r e n t t e c h n i q u e s s i n c e t h e m a r k e t v a r i e s a n d i t m a k e s d r a s t i c c h a n g e s . I t i s b e s t t o b e u p d a t e d t h a n b e l e f t b e h i n d . I t i s p r e e m i n e n t t o k n o w h o w t o f a c e f e a r s o r b a r r i e r s t h a n b e s i m p l y a l a r m e d b y i t .
Electronic Day Trading Specific links
Electronic Day Trading News
OPEC Oil Profits Plummet to Barely 4,400 Percent...WAAA! How Will They ... - The Auto Chanel
SINGAPORE - December 5, 2008: An AP report early Friday morning shows the price for light,sweet crude oil for January delivery fell below $44 dollars a barrel, for the first time in about four years. If it costs under a dollar per barrel to bring the ...
Read more...Oil plunges on dire economic news - MSNBC
VIENNA, Austria - Oil prices plummeted Friday as the already battered market reacted to unexpectedly high U.S. unemployment figures — the latest dramatic evidence of recession in the world's largest market for crude. With cold weather settling in ...
Read more...MarketAxess Announces Monthly Volume Statistics for November 2008 - PR Newswire
NEW YORK, Dec. 5 /PRNewswire-FirstCall/ -- MarketAxess Holdings Inc. (NASDAQ: MKTX) , the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income ...
Read more...Stock futures lower ahead of unemployment report - San Jose Mercury News
Wall Street was on edge todayas investors waited to learn how many jobs were lost as employers slashed their payrolls in November. Stock index futures were trading moderately lower. The Labor Department's monthly employment report is expected to show ...
Read more...Crude futures end flat ahead of OPEC meeting - Marketwatch
NEW YORK (MarketWatch) -- Crude-oil futures erased earlier losses, ending Friday's trading just one cent lower as members of the Organization of the Petroleum Exporting Countries sent mixed signals on whether they will cut production at Saturday's ...
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