Best Thread Quick reference for real trading profit. Tips that work

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LORD JAMLA

Member
98 9
More importantly though, one that should be used, not only for trading but for day to day life.

'A successful man is one that refuses to accept all around him that is deemed normal until he has sufficiently observed and researched to be able to come up with his own conclusions'
 

Helenqu

Established member
841 3
Ok a real one:

Have a checklist of conditions that must be fulfilled before you enter a trade, tick every one physically on your trading record sheet. If you can't stay out.
 

ChartMan

Legendary member
5,580 46
Nice one, Roger.
Mine is:-
It pays to wait.........
 

bansir

Well-known member
494 42
One that Chartman made me aware of:

Be sure to have a target number of points worked out for your exit.

I've always tended to jump out of winning positions too soon,
setting target exit points helps me handle this emotional response.

Regards,
Neil
 

Uncle

Established member
671 2
Overcome GREED and FEAR - the root cause of losses!!
 

nobrainer

Active member
112 2
Its hard to put into one sentence what's really important so I'll have to bore you with a few more things which I think are the most important for me whilst daytrading....I've been doing so for 4 years btw.
Don't run any losing trades thereby eliminating emotion from your trading.Always try to trade in the direction of the underlying market ie.on up days, buy the dips rather than short risers for eg.
Try to be flat ahead of important data or at the day's end.
Keep it simple, in my case, 1 screen and charts in my head for the stocks I follow.
Trading successfully imo is about judging human emotion ie. make the first move before the average investor/trader does.Be brave intially.
Naturally, other successful traders will disagree with some of my points but as they work for me I'm unlikely to change!!
If pushed , the control of emotion, is likely the most important parameter but that in itself encompasses most of the other points.
 

china white

Established member
979 12
bansir,

completely agree. always have a target in mind. if thez a follow-thru after the target has been reached - bingo, look for a new target. If not - well u get what u expected. If a target fails - exit mercilessly, thez something bigger in play than your particular TA pattern.
 
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