subject: Intraday Trading – Thiking Is Just A Waste Of Time ! [print this page] Thinking Is Just a waste of timeThinking Is Just a waste of time. On the leisure time I used to think that the cash cows or you can call them the most sucesfuk traders just knew how to locate the big winning trades and that was the key to their profitability.
But now the scenario hais changed when it comes to Intraday Trading , Now It Is Finally realized that It take some time, probably because of the irony of it all .I mean to say who might have thought that the Intraday stock traders' who are the real key to consistent profits in the market all boils down to humility and their ability to get out of trades when they need to the most.
Instead Of Intraday Trading If you believe in long term timeframe and you're looking for an extended run over the course of many weeks or months, your position size is likely smaller so that you can endure larger shakeouts and hang on for the bigger move. You might even want to set multiple stops for pieces of your trade so that you don't get taken out all at once at the same level if the move against you proves to be a headfake. Whatever your requirements, just be sure that you have an exit plan in place in case that shakeout turns into a full-blown reversal.
As far as those tradaers are concerned who haven't yet proven themselves then these are the Commodity futures traders who deserve atleast the amount of credit, and a hard stop should be in place at all times for the full amount if these trades start to misbehave. With in placing commission costs so low, there's simply no excuse for keeping a position once it begins to cost you money.So Cut that thing quick, get it off your screen, and re-buy it later if you start to see signs of promise again. In the meantime, kick itto the curb and look for a far better opportunity (even if that means going to cash).
So Achieving greatness in Intarady trading or Deliver begins with humility. Stubborn pride doesn't accept losses easily, so put it aside on a regular basis. Check your ego at the door. The market's bigger than we are, so if we argue with it long enough we're going to lose! Keep those stop losses in place and give yourself and make the best possible chance to win this battle!
Intraday Trading Thiking Is Just A Waste Of Time !
