The Basics for Beginner Traders
The following is a list of the TechniTrader® Basic
Trading Rules:
1. Endeavor to have at least a 75% simulator paper trading success rate before you start live in the market. Most traders make good profits then turn right around and lose the profit and more, because they are too eager to trade. Instead be reluctant to trade. Trade only when you are completely confident and comfortable. Do not trade because you have an electric bill to pay. Pressure of that sort will make you go with an emotional decision rather than a logical one. If you take a big loss, well you MUST go back to paper trading. Do not cheat yourself and think it is okay to just ignore the problem. Something went wrong and you need to redirect your discipline and skills.
2. Most Traders trade too often. Traders are so obsessed with making money that they throw their hard earned profits away, on weak trades or weak market days. The less trading you do, the more you will base your selections on only the best. This will create higher returns since you will have fewer losses.
3. Do
not fix what is not broken. Once you have a trading style and strategy that works
for you, do not change it until it stops working. Do not chase fads. Those
traders who try to take short cuts to wealth are the ones that lose in the end.
Wealth takes time, and it takes effort and CONTROL. Most people who win the
lottery lose all of it in less than a year because they have not learned how to
control that kind of money.
Ask yourself if you are ready emotionally for larger profits. Do the financial self-worth test once in a while. People sabotage their own dreams and goals all the time and never realize it. Making money is not the problem, the problem is in learning how to manage it.
TechniTrader is "The Gold Standard in Stock Market Education." Go to TechniTrader.com and watch The Trade Management Planner Webinar, to experience for yourself the excellence of TechniTrader education.
Ask yourself if you are ready emotionally for larger profits. Do the financial self-worth test once in a while. People sabotage their own dreams and goals all the time and never realize it. Making money is not the problem, the problem is in learning how to manage it.
TechniTrader is "The Gold Standard in Stock Market Education." Go to TechniTrader.com and watch The Trade Management Planner Webinar, to experience for yourself the excellence of TechniTrader education.
4.
Do not compare yourself to other traders. You are an individual and hopefully,
you will develop your own unique trading style that is yours alone. Focus on
trading successfully, every time.
5.
Pay attention to small details, maintain focus, and ignore the constant noise
of the market and other traders. If you spend too much time listening
to the media, news, and other traders you will lose the ability to hear your
inner voice. I don't know how many traders tell me, "I knew I should have
done this or that, but I didn't." They have lost the ability to listen to
their inner voice.
TechniTrader is "The Gold Standard in Stock Market Education." Go to TechniTrader.com and watch Beginners How to Trade the Stock Market for New Investors and Beginning Traders Webinar Lessons, to experience for yourself the excellence of TechniTrader education.
TechniTrader is "The Gold Standard in Stock Market Education." Go to TechniTrader.com and watch Beginners How to Trade the Stock Market for New Investors and Beginning Traders Webinar Lessons, to experience for yourself the excellence of TechniTrader education.
Go to the TechniTrader
6. The
most important lesson is to trust yourself and your ability to do this job. You can do this
job and do it successfully, but do you believe it? If not, then think about how
you are sabotaging your own trading without realizing what you are doing.
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Trade
Wisely,
Martha
Stokes CMT
Chartered Market Technician
Instructor and Developer of TechniTrader® Stock and Option Courses
TechniTrader DVDs with every course.
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Disclaimer: All statements, whether expressed verbally or in writing are the opinions of TechniTrader its instructors and or employees, and are not to be construed as anything more than an opinion. Student/subscribers are responsible for making their own choices and decisions regarding all purchases or sales of stocks or issues. At no time is any stock or issue on any list written or sent to a student/subscriber by TechniTrader and its employees to be construed as a recommendation to buy or sell any stock or issue. TechniTrader is not a broker or an investment advisor, it is strictly an educational service.
Disclaimer: All statements, whether expressed verbally or in writing are the opinions of TechniTrader its instructors and or employees, and are not to be construed as anything more than an opinion. Student/subscribers are responsible for making their own choices and decisions regarding all purchases or sales of stocks or issues. At no time is any stock or issue on any list written or sent to a student/subscriber by TechniTrader and its employees to be construed as a recommendation to buy or sell any stock or issue. TechniTrader is not a broker or an investment advisor, it is strictly an educational service.