Trade what you SEE - not what you Think Want to know the difference between what winning
financial traders and losing one's do?
Well here are a few pointers from Self Made millionaire trader Vince Stanzione and author
of Maximum Trading Profits In Minimum Time: 1.Winning traders trade what they SEE not
what they think.
If the price goes to 50, 51, 55, 60, it is going up, it doesn't matter what the indicator
or news says or what you THINK should be happening, the price tells you the truth and should always
be obeyed.
Many new traders lose large amounts of money trying to pick the top or a bottom, this is
risky and not required to succeed -- unless you have psychic powers then stick to a trading
system and don't guess.
2.
Don't get carried away by technology It's easy to get blown away by all the great
software, on-line trading, real time data, charts, business channels, apps and bells
and whistles.
The truth is, less is more, and information overload makes you a worse trader.
The more complicated your system, the less chance it will work or that you will follow
it.
The majority of technical trading indicators are a total waste of time and you do not need
to waste money on expensive trading software that claims to predict markets.
The most important factor when trading any market is the price.
3.
In trading and investing we are dealing in unknowns and factors out of our control -- what
you can control is the amount of money you risk on any one investment.
How ever sure you are that XYZ is going to soar make sure you only invest a percentage
of your trading bank that should it not turnout as you hoped you can still live to fight another
day.
If you money manage and keep losses small and your wins big then you can lose more times
than you win and still make money.
4.
When Vince was a broker he had access to 1000's of client accounts and could see how they
traded -- the majority would cut winning trades very quickly but let losing trades run "hoping
" that they would turn around.
You cannot afford to trade and invest like this -- if something is not working out as
planned cut it and get out -- taking a small lose now is less painful than taking a big
lose latter.
5.
Don't have a directional bisis.
Many want to either always to just buy and go long a market, others are always bearish
and want to go short -- a good trader should be natural and happy to trade markets either
way.
For example Vince may be long a stock for many months that is in an up trend and then
when it breaks that trend he will sell and go short, allowing him to profit from Up and
Down moves.
If you too want to make Maximum Trading Profits in Minimum Time an profit regardless if the
markets are rising or falling then visit www.55trader.com and put the odds in your favour.