Become a Champ in Day Trading- the 4-Step Plan

May 28th, 2017 | By Syed Hasan | Posted In Blog, Forex, Pakistani equity market

If you are  new in day trading or not yet got reasonable success then first you need to learn how to deal the day trading learning curve period without going broke first!

To begin with it is worth to note FEW MAIN REASONS OF FAILURE IN DAY TRADING;  

Lack of capital, and incompetence amounts to 60% failures, and over trading results 90% failures.

Now let us understand the most basic price mechanism in stock market which always works in most of the times. Then I will reveal to you my golden rule to deal the day trading curve period without going broke!

Price Mechanism

BUY SELLRemember, stock just sold at a price is a history. Market Price is composed of current bid and the asking price. The balance between selling and buying VOLUME decide about the stronger pulling power that determines price. A sudden demand or burst of liquidation may enable us to form a new plan. Watch market index 100 and pattern at the same time. When we find a stock emerging into a new field it best to go with it.

 

My Golden Rule

GOLDEN RULEI am not compelled to trade and results do not depend on how often I trade, but on how much money I make.

There should be no haste as market will be there tomorrow in case today’s opportunities did not meet requirements of trading plan.

Anxiety to reach day target or to avoid losses would reduce profits it must be done naturally.

Few times market may not suit my tape reading style, then you must hold off until the character of market changes.

Become a Champ in Day Trading With the 4-Step Plan

fff 4 phase

The key to day trading is to permit myself only one of four possible outcomes for every trade I take.

2 ADV

 

 4 results

 

BIG LOSS NOT ALLOWED

big lossTHE ONLY RESULT YOU MUST AVOID AT ALL COST IS ” BIG LOSS”.Keep All Losses Small

Always use strict stop loss points to minimize losses in your trades. You will lose previous hard work and hard earned profits, simple due to one big loss.

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