Thursday, April 23, 2015

Less Is Definitely More


The best times to day trade are usually the first two hours after the open. Some traders also like to trade
the last half-hour before the close.
Momentum is greatest at these times, with real buying and selling pressure creating the best trends.
Many real-time traders also follow the "3 strikes and you're out" rule.
By limiting your trading to only three trades a day - MAX - you reduce your stress level enormously.
You'll be sharper and less likely to make mistakes.
You also insure yourself against a "suicide day", when you take serial losses, each time trying to
recover from the previous loss...
Reading this away from the market, you might feel you would never fall into that trap.
However, it's surprising how many traders have come unstuck in a real-time avalanche as the losses
begin to snowball.
The motto?
Tomorrow's another day.
Take it easy. Don't trade a 40-hour week. Accumulate your profits over time.
And you'll make more by doing less.

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