Stock Blog Reveals Secrets Of A Millionaire Trader
I've been trading for about 25 years and one of the most important lessons I have learned is that it is better to hit and run trade instead of long term trading. Long term trading is no longer a viable strategy. We could debate why this is true forever, but that is beyond the scope of this article. The best thing you can do to improve your trading is to forget the buy and hold mindset. Leave that style of trading behind.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you become much richer than you are today.
I have been the head trader at several brokerage firms, a Market Maker, and currently I'm a private hedge fund manager and here are some tips of advice:
You need to trade so that you make consistent short term profits. You want cash flow in the market. Really get in there and do it for all it is worth. Don't try and swing for the fence on every trade. Never get emotionally attached to a stock, get emotionally attached to the idea of making money small bits at a time. This is the way you need to do it.
For me all stocks are equally worthless.
I do not hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
You should trade so that it doesn't matter which way the market goes. You should not care if the market goes really high, falls, or goes sideways for the next 8 years. You shouldn't really care. Stocks are nothing more than three letters with a space and a price written next to it.
You need to only trade when you know what your advantage is because without an advantage your chances of success are no better than rolling dice. This is why so many newbie traders and long term investors lose money in the stock market.
Here's a secret most traders don't know about, it's called the first hour of trading. Take a look at almost any hourly chart of any index and you will probably see the most opportunity for profit during the first hour of the stock market's opening.
Most people sit on their hands during the first hour of trading and do nothing.
If you sit on your hands during the first hour of trading, you will miss out on the big moves made by newbie stock traders who just finished watching something on TV the night before. - 23310
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you become much richer than you are today.
I have been the head trader at several brokerage firms, a Market Maker, and currently I'm a private hedge fund manager and here are some tips of advice:
You need to trade so that you make consistent short term profits. You want cash flow in the market. Really get in there and do it for all it is worth. Don't try and swing for the fence on every trade. Never get emotionally attached to a stock, get emotionally attached to the idea of making money small bits at a time. This is the way you need to do it.
For me all stocks are equally worthless.
I do not hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
You should trade so that it doesn't matter which way the market goes. You should not care if the market goes really high, falls, or goes sideways for the next 8 years. You shouldn't really care. Stocks are nothing more than three letters with a space and a price written next to it.
You need to only trade when you know what your advantage is because without an advantage your chances of success are no better than rolling dice. This is why so many newbie traders and long term investors lose money in the stock market.
Here's a secret most traders don't know about, it's called the first hour of trading. Take a look at almost any hourly chart of any index and you will probably see the most opportunity for profit during the first hour of the stock market's opening.
Most people sit on their hands during the first hour of trading and do nothing.
If you sit on your hands during the first hour of trading, you will miss out on the big moves made by newbie stock traders who just finished watching something on TV the night before. - 23310
About the Author:
Do not buy your next stock before you read Sam Nielson's free stock blog, and stock trading website.
posted by Mr. Forex at
12:02 AM
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