Wednesday, May 22, 2013

Trading Psychology

Thinking Instead of Day Trading

Yesterday, AIG was a day trader’s dream. It rocketed up 9 points, and gave multiple entry signals all the way up. And did I make any money on it? No. Not one cent. Why? One thought kept me out of this trade. It Can’t Keep Going Up You’re damned right it can. And I know [...]

Do Poker Players Make Good Day Traders?

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I have recently taken up poker at the insistence of my friends. My friends range in skill level from beginner to the guy who takes thousands of dollars from the old dogs at the local underground poker ring that may or may not exist depending on who’s asking. Like most traders, they are very generous [...]

Day Trading With Break Even Mentality

You can’t win if you’re just trying to break even. When day trading, have you ever taken profits sooner than you should because it made up for your losses the previous day?  Have you ever increased your position size or the amount of risk you take on “temporarily” just to get back to zero?  Yeah?  [...]

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