MAKING MONEY ON THE STOCK MARKET
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TRADE ON LINE
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Successful home- based trading is within the grasp of the average trader. Every one has read about the trading exploits of the well-known market wizards and other superstar traders. But upon closer examination, you will notice most of these highly publicized traders are not home-based, nor do they libe solely off the profits from their own trading accounts. Instead, you'll find that they are floor traders or they work as hedge fund managers and trading advisors, managing millions of dollars of other people's money. One then begins to wonder if trading success is reserved only for these heavhy hitters and big-name players.
Rest assured that it's not.
There are no experts in the trading arena, and if you ever hope to be a success, you have to do the work yourself. Forget about the hot tips, the gurus of day, and the newsletter seers.
The basic principles of succeessful trading is to trade the trend, cut you losses, and use a trailing stop as you allow you profit to run. More important,the only thing that matters is price action itself.
The basic fact of life in trading, boils down to just one thing, the action of the market itself.
The stock market is always right and always tells its own story best.
Stock Market success comes from following a principle.
If you want to be successful trader and want to transform from a break-even trader to a consistently successful trader , you have to recognize the need to scrutinize each and every one of you trades for clues to its faiure or success.
The most grievous fault as a trader is to poerate without any goals or master plan.
YOU HAVE TO SET YOUR GOALS, IN ORDER TO TRANSLATE YOUR DREAMS INTO REALITY.
ONE OF THE BEST WEBSITE TO TRADE THE MARKET IS LISTED BELOW:
THE TRADING GAME
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Trading is a profession, and like any profession, it tades years and years of learning and hands-on ezperience to master.
Everyone is looking for shortcuts. They think they can become full-time traders simply by purchasing the latest and greatest software packages,attending the overhyped trading seminars, or being trained by trading experts.
Trading is like any other profession that involves specialized skills,You have to develop these skills through education, coaching, and experience, the seeds must already be planted if they are to grow.
WHY SO MANY TRADERS LOSE
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Successful trading is a cumulatibe process that requires a commitment overtime, in which you progress in stages from novice to expert.
This evolution involves years, not months. There are no shortcuts.
Many traders are too risk averse for trading. This risk aversion manifests itself through their inability to pull the trigger by making the trade.
Risk-averse traders might trade only if the sun, stars, and moon are in perfect alignment, meaning that unless everything is just perfect, they won't trade. Once in a trade, these overly cautious traders are eadily shaken out by the stress of simply being there.True risk-averse traders will nefer go nankrupt of lose much money trading, but they are likely to spend their careers as going nowhere,break-even traders.
At the other end of the risk spectrum are the gunslingers who trade with a gambler's mentality.
Their trading is often characterized by overtrading or making big bets at the most inopportune times. Gamblers have no problem with risk assumption, but they self-destruct with the management side of the risk equation. Make no mistake about it, risk management is what separates the trading hobbyists fromthose who successfully trade for a living.
Succsessful traders, accept diverse possibilities,disorder, randomness, and chaos, and they develop strategies that deal with such uncertainties.
(all th above are from my favourite book by Gary Smith "how I trade for a living)
Wants to know more about trading click below:
I f you are interested in forex trading click on the link below:-
THE GOLDEN RULES OF TRADING
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1- CAUTION
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Exitment and fear of missing an opportunity often persuade us to enter the market before it is safe to do so.
2- PATIENCE
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Wait for the right market conditions before trading. there are times when it is wise to stay out of the market and observe fromthe sidelines.
3- CONVICTION
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Have the courage of your convictions, take steps to protect you profits when you see that a trend is weakening, but sit tight and don't let fear of losing part of your profit cloud your judgment.
4- DETACHMENT
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Concentrate on the technical aspects tather than on the money. Stay emotionally detached from the market. Avoid getting caught up in the short-term excitement.
5- FOCUS
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every shotFocus on the longer time frames and donot try to catch-term fluctuation.The most profitable trades are in catching the large trends.
Investing involves dealing with probabilities not certainties. No one can predict the market correctly every time. Avoid gam
6-EXPECT THE UNEXPECTED
-------------------------------bler's logic.
7- AVERAGE UP NOT DOWN
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If you increase you position when price goes against you, you are liable to compound your losses.When price starts to move it is likely to continue in that direction. Rather increase your exposure when the market proves you right and moves in you favour.
8- LIMIT YOUR LOSSES
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Use stop losses to protect you funds.When the stop losses is triggered, actimmediately don't hesitate. The giggest misake you canmake is to hold onto falling stocks, hoping for a recovery.
