The Four Keys To Identify Winning Trading Strategies - Day Trading Success Secrets
Most traders are on a constant quest to discover winning trading strategies
. And yet, very few Traders are ever able to find and successfully implement these
winning trading strategies.
Why is that? What is it that is so elusive about them? Where can you go to find the most powerful and accurate winning trading strategies available?
The fact of the matter is that most well-thought-out day trading systems and strategies can and should be winning day trading strategies IF the Trader has discipline - both in following the day trading strategy exactly, and also in sticking with the trading strategy.
Yet it seems that most day traders will try what should be a winning trading strategy just once or twice, and if it doesn't immediately yield positive results, these traders quickly abandon the day trading strategy and move on to the next "winning trading strategy".
And these same Traders wonder why they can NEVER create consistent Day Trading success - why they can never lock in on that one winning trading strategy.
To help you along on your quest, we've created a four-step punchlist for you to follow as you continue your quest to identify winning trading strategies. Pay close attention to this list - it could be the "game changer" you've been looking for as a Day Trader.
The Four Keys To Identify Winning Trading Strategies
1. Keep It Simple, Stoopid! The best day trading systems and strategies are also the easiest to learn, understand, and master. The more complicated a trading strategy (and believe me, in the world of technical analysis, there are PLENTY of ultra-complicated trading strategies), the less like you'll ever be able to turn it into a winning trading strategy for yourself.
When looking for winning trading strategies, find those that are simple, easy to execute, and that don't require an advanced degree in statistical theory to comprehend.
2. Speed Is Your Friend. The longer you're in a trade, the more time there is for something to go wrong. When searching for those elusive Winning Trading Strategies, find one that allows you to be in and out of a trade very quickly (my average trade lasts less than one minute).
Find day trading systems strategies that don't focus on "long term" trading (i.e. anything longer than a few minutes) - it'll be better for your trading account AND your stress level.
3. Don't Be A Stock Chart Zombie. Most (nearly all) trading strategies require you to spend hours and hours a day chained like a slave to your computer, making trade after trade after trade, all...day...long. Is that really the life that you're looking for? Wouldn't it be better to be in, out, and on with your day?
In fact, The Guerrilla Trader slogan "get in, hit your target, get out...like you were never there" is speaking directly to this idea. The problem is that MOST trading strategies require you to watch for indicators that will "predict" when market movement will happen, and also which direction to enter the trade.
Wouldn't it be easier, and flat-out BETTER,
if you already knew exactly when market movement was going to happen, and then how to take advantage of that movement? The less time you have to spend executing a winning trading strategy, the more like you will be to maintain your discipline as a Trader. Speaking of...
4. Maintain your discipline. No matter what trading strategy or system you ultimately decide on, discipline is absolutely 100% necessary for you to become a successful trader. You MUST maintain your discipline as you execute your chosen strategy, and also as you keep working at perfecting it.
Lack of discipline has perhaps ruined more would-be Traders than any other flaw. Even as an experienced Trader, I sometimes find myself growing impatient with my winning trading strategies (even though these strategies that I use develop almost instantly and I'm usually in a trade for less than a minute). And its when I veer off course of these
winning trading strategies that I find myself limiting my profits, or even turning winning trades into losing trades.
As a day trader, there is no characteristic more important in your trading practices than the ability to exercise a high level of discipline. And ironically, there is no trading skill that is harder to master than unbending, unyielding discipline.
So there you have it - the four keys of identifying winning trading strategies. Of course, not all trading strategies are created equally...
The Four Keys To Identify Winning Trading Strategies - Day Trading Success Secrets
By: The Guerrilla Trader
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The Four Keys To Identify Winning Trading Strategies - Day Trading Success Secrets