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Trading Tips to Make Your Scottrade Account Skyrocket

There are tons of intelligent and learned people out there dispensing wisdom-and getting paid for it. And that’s fine. Wisdom and knowledge are only good if you apply them. Just reading or listening means nothing until applied. As a matter of fact, we live in times where there is such an overload of information and choice that it makes it hard for the seeker of wisdom and knowledge to choose a path.

But I pretend to be neither wise nor particularly knowledgeable. But I am experienced and still standing after a decade of day-trading. Over the years, I found that I like my wisdom quick and to the point. The “razor of Occam”. The rest I can fill in as I go. Get to the bottom line. Cut to the quick.

Below is a no BS list of items for you intrepid day-traders to ponder and chew on.

• The two main reasons for being unsuccessful at trading are: Fear of losing money and the fear of being wrong.
• One must not only learn the technical aspects of trading but also the proper trading psychology.
• Be disciplined and stick to your system.
• Keeping a positive attitude is key.
• Learn a technique for keeping positive.
• Constant education
• Keep a trading journal.
• Analyze every trade-technically and psychologically
• Consider having a personal coach or contact with other traders in the business.
• Don’t believe every little thing you hear about trading.
• Develop healthy habits that help keep you light on your feet...
• Build self-confidence.
• Being successful at trading is a long distance proposition.
• Learn to step back and re-evaluate yourself and your system.

If you have some good answers to this rather eclectic laundry list, you are probably on your way. If not, you might be interested learning more.

In subsequent articles, I’ll lay out more specifics about each of the topics above and hopefully add to your growing and never ending quest for relevant knowledge and wisdom. Its not that I am any sort of guru, but there is nothing like digested experience.

Article Source: http://www.articlemap.com

Greg F. Hodges is currently a proprietary trader for Texas Capital Management. He earned a bachelors degree in finance and accounting from the University of Texas at Austin. As an active trader of all markets, Greg utilizes numerous statistical systems and techniques. Along with trading, he mentors several professional traders and writes for www.daytradinginsider.com.

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