Feb
29
What is the reject shop trading hours?
Filed Under Small Business | 1 Comment
Feb
25
Chris Murphy wrote:
There are many financial markets in which to participate in order to make substantially better returns than putting your money in a CD or savings account. Some markets such as a money market or a typical bond market won’t usually gain you double digit returns. However, there are some markets that can allow you to achieve double digit returns on your investments and this article will compare a couple of them.
The Forex Market, or FX Market as some term it, is one of those markets where you can make double digit gains. You can also make double digit gains in the Futures market as well. There are distinct differences between the two markets and you will want to know what they are before you enter into either one.
Liquidity:
Forex Trading has the advantage of being more liquid than any other market, including the Futures Market. With the average daily volume in the Forex Market reaching close to 2 Trillion and the daily volume in the Futures Market reaching 30 Billion, there is no comparison. The liquidity in Foreign Currency Trading (Forex) far surpasses that in the Futures Market. This means when it comes time to trade, Forex Trades will be filled much easier than in the Futures Market. This speed means greater potential profit. Couple this with instantaneous trade execution in Forex Trading, and you have the ability to make a lot of trades quickly.
24 Hour Trading:
Another advantage the Forex Currency Trading System (Forex) has compared to Futures is the fact that you can trade 24 hours a day, five days a week if you want. The Forex Market is open longer and for more hours than any other market. If a person is serious about making money in a market, it sure would be nice to have virtually unlimited time each week to make those trades. Whenever some event happens around the world, you can be one of the first to take advantage of the situation. You won’t have to wait for a market to open in the morning. You can trade from your computer instantaneously.
Rapid Trade Execution:
When you use a Forex Currency Trading System you receive immediate trade executions. There is no delay like there can be in the Futures or Equity Markets. And your order gets filled at the best possible price instead of guessing at which price your order might get filled.
No Commissions:
Forex or FX Trading is Commission Free because it is an inter-bank market which matches buyers with sellers in an instant. There are no middleman brokerage fees as in other markets. There is a spread between the bid and ask price and this is where Forex trading firms make a little. This means you can save money when you trade Forex compared to Futures trading where there are typically commissions.
Greater Leverage:
Online Forex Trading gives you much greater leverage than playing the Futures Market. However, in the Futures Market, you can also buy or sell options on futures, which increase your leverage. Leverage can be very important when you know what a currency is going to do. You can achieve 200:1 and greater in Forex Trades compared to much less in Futures. This means a lot more potential profit, again if you make the right moves.
Limited Risk is Guaranteed:
Since Forex Traders must have position limits, the risk is limited since the online capabilities of the Forex Trading system automatically initiate a margin call when the margin amount is greater than the value of the account in dollars. This keeps a Forex Trader from losing too much if their position goes the other way. It is a good safety feature that is not always available in other financial markets.
When considering the differences between Forex Trading and Futures Trading, just keep in mind your preferred trading style and the type of risk you don’t mind taking. There are definite advantages to FX Trading that may allow you to profit greatly if you develop a good system and stay within your trading limits. If you are ready to go, then begin investigating a good firm with whom to open a Forex Trading Account.
How to Lose Weight
There are many financial markets in which to participate in order to make substantially better returns than putting your money in a CD or savings account. Some markets such as a money market or a typical bond market won’t usually gain you double digit returns. However, there are some markets that can allow you to achieve double digit returns on your investments and this article will compare a couple of them.
The Forex Market, or FX Market as some term it, is one of those markets where you can make double digit gains. You can also make double digit gains in the Futures market as well. There are distinct differences between the two markets and you will want to know what they are before you enter into either one.
Liquidity:
Forex Trading has the advantage of being more liquid than any other market, including the Futures Market. With the average daily volume in the Forex Market reaching close to 2 Trillion and the daily volume in the Futures Market reaching 30 Billion, there is no comparison. The liquidity in Foreign Currency Trading (Forex) far surpasses that in the Futures Market. This means when it comes time to trade, Forex Trades will be filled much easier than in the Futures Market. This speed means greater potential profit. Couple this with instantaneous trade execution in Forex Trading, and you have the ability to make a lot of trades quickly.
24 Hour Trading:
Another advantage the Forex Currency Trading System (Forex) has compared to Futures is the fact that you can trade 24 hours a day, five days a week if you want. The Forex Market is open longer and for more hours than any other market. If a person is serious about making money in a market, it sure would be nice to have virtually unlimited time each week to make those trades. Whenever some event happens around the world, you can be one of the first to take advantage of the situation. You won’t have to wait for a market to open in the morning. You can trade from your computer instantaneously.
Rapid Trade Execution:
When you use a Forex Currency Trading System you receive immediate trade executions. There is no delay like there can be in the Futures or Equity Markets. And your order gets filled at the best possible price instead of guessing at which price your order might get filled.
No Commissions:
Forex or FX Trading is Commission Free because it is an inter-bank market which matches buyers with sellers in an instant. There are no middleman brokerage fees as in other markets. There is a spread between the bid and ask price and this is where Forex trading firms make a little. This means you can save money when you trade Forex compared to Futures trading where there are typically commissions.
Greater Leverage:
Online Forex Trading gives you much greater leverage than playing the Futures Market. However, in the Futures Market, you can also buy or sell options on futures, which increase your leverage. Leverage can be very important when you know what a currency is going to do. You can achieve 200:1 and greater in Forex Trades compared to much less in Futures. This means a lot more potential profit, again if you make the right moves.
Limited Risk is Guaranteed:
Since Forex Traders must have position limits, the risk is limited since the online capabilities of the Forex Trading system automatically initiate a margin call when the margin amount is greater than the value of the account in dollars. This keeps a Forex Trader from losing too much if their position goes the other way. It is a good safety feature that is not always available in other financial markets.
When considering the differences between Forex Trading and Futures Trading, just keep in mind your preferred trading style and the type of risk you don’t mind taking. There are definite advantages to FX Trading that may allow you to profit greatly if you develop a good system and stay within your trading limits. If you are ready to go, then begin investigating a good firm with whom to open a Forex Trading Account.
How to Lose Weight
Feb
25
mazinger_0001 wrote:
How come I see yahoo fiance has those after hour trading numbers for stocks, but there’s no company I can find to do after hour trading for me?
Dog Training
How come I see yahoo fiance has those after hour trading numbers for stocks, but there’s no company I can find to do after hour trading for me?
Dog Training
Feb
23
R G wrote:
I am new to trading and have noticed that the closing price of a stock is many times different than its opening price the next day. If I trade after hours, what price do I get? is it the opening price for the next day or do I actually get a price in between? Thank you
How to Lose Weight
I am new to trading and have noticed that the closing price of a stock is many times different than its opening price the next day. If I trade after hours, what price do I get? is it the opening price for the next day or do I actually get a price in between? Thank you
How to Lose Weight
Feb
22
Stock Trading Tips
Filed Under Investing | Leave a Comment
Kelly Liyakasa wrote:
Making a profit in today’s money market economy requires cautious calculation, knowledge of the financial environment, and a little luck. Even if you don’t believe in the latter, online stock trading is a huge investment opportunity for many, and a daring endeavor for day traders. Before choosing a particular online stockbroker, it’s imperative to consider these key points.
• Investment Options-Go with a site that provides multiple stock options, mutual funds, CDs, IRA rollovers and things of that nature. TD Ameritrade is a great source for stocks, bonds and all things finance.
• Trading Platform-Consider the usability and intuitiveness of the online stock trading platform you’re signing up with. For example, Schwab Active Trader utilizes StreetSmart Pro® and gives traders streaming market data in a simple, yet sophisticated custom display view.
• Investment Outlooks-To trade successfully, you need continuously updated, extensive real-time stock charts and quotes. Zecco lets you customize ‘Watch Lists’ and even has their own ‘Gainers,’ ‘Losers,’ and ‘Most Active’s’ to help you out.
• Ease of Use-Online stock trading isn’t for the faint at heart, but doesn’t require expert knowledge to acquire an understanding of it. Sharebuilder, for instance, targets both novice and professional traders with their user-friendly site and minimal investment requirements.
While the market incessantly fluctuates, and one good day on Wall Street could turn into an investor’s nightmare the next, trading online greatly assists those building their portfolios. TD Ameritrade offers extended hours trading for those working a longer day, and online stock trading services such as eTrade provide real-time streaming stock quotes. You may just become a Dow Jones junkie while having fun in the process.
Dog Grooming
Making a profit in today’s money market economy requires cautious calculation, knowledge of the financial environment, and a little luck. Even if you don’t believe in the latter, online stock trading is a huge investment opportunity for many, and a daring endeavor for day traders. Before choosing a particular online stockbroker, it’s imperative to consider these key points.
• Investment Options-Go with a site that provides multiple stock options, mutual funds, CDs, IRA rollovers and things of that nature. TD Ameritrade is a great source for stocks, bonds and all things finance.
• Trading Platform-Consider the usability and intuitiveness of the online stock trading platform you’re signing up with. For example, Schwab Active Trader utilizes StreetSmart Pro® and gives traders streaming market data in a simple, yet sophisticated custom display view.
• Investment Outlooks-To trade successfully, you need continuously updated, extensive real-time stock charts and quotes. Zecco lets you customize ‘Watch Lists’ and even has their own ‘Gainers,’ ‘Losers,’ and ‘Most Active’s’ to help you out.
• Ease of Use-Online stock trading isn’t for the faint at heart, but doesn’t require expert knowledge to acquire an understanding of it. Sharebuilder, for instance, targets both novice and professional traders with their user-friendly site and minimal investment requirements.
While the market incessantly fluctuates, and one good day on Wall Street could turn into an investor’s nightmare the next, trading online greatly assists those building their portfolios. TD Ameritrade offers extended hours trading for those working a longer day, and online stock trading services such as eTrade provide real-time streaming stock quotes. You may just become a Dow Jones junkie while having fun in the process.
Dog Grooming
Feb
19
Ryan Machara wrote:
The Forex market is the biggest in the world with over trillion dollars revenue every day. That amount is not even matched by the combined revenue earned by the stock markets of Tokyo and New York. Forex trading is a huge sensation every eager and brave investor is contemplating to engage in.
Traders are often compared to a hunter always ready for the next kill. Well, not that they are psychopaths that chop people to pieces; traders are interested in getting the greatest profit in the matter of days. Also traders are described as gamblers. They place their money on various investments when the future is so bleak. The thrill of the jackpot is for the gambler while thrill in having the biggest return is for the trader. Traders are also very careful people weighing out the odds in very move and using all manner of analysis to tip the odds into their favor to reap rewards.
Just finding this article proves you are interested in trading and currently gathering information whether to go into Forex trading or not. Surely you have heard about Forex trading. It is the shortcut of Foreign Exchange. Simply defined, it is the exchange of currencies. The goods traded are money such as stocks as in the stock market or candies in a candy store.
There is currently an increase in Forex traders. Why are a lot of people going into Forex trading? Why do they find Forex trading exciting?
The answer lies in diversification and 24-hour trading. Well, that is just a few of the reasons why people get into Forex trading. Other would say the excitement lies in the volatility, liquidity, and increased leverage. Those factors would have to be discussed in another article. Here, the reason of getting into Forex trading is the diversification and long hours of trading.
You could have heard the old adage that you should never place all your eggs in one basket so that when you drop the basket, you will still have eggs for breakfast. That is not exactly the words of wisdom said but you get the gist. Forex trading allows investors to spread portfolio along different options so that a decrease in the value of this option will not swoop all your future and leave you broke.
Also in Forex, you can trade with countries across the ocean without buying a plane ticket. Say you own US dollars and its value began sliding down, to save the value of your US dollars you trade it to currencies whose values are rising that what you maintain the value of your money although in another currency.
Most traders like the 24-hour availability of Forex: there is no closing time and no holidays. The physical Forex trading building will close but Forex trading can go on online. The various time zones make the closing of Forex trading impossible. When the Forex markets of Sydney closes, you may opt to trade with the Hong Kong Forex market instead.
The Forex market is one avenue to earn money if you know how. If you are just starting or interested in trying Forex trading, you will be happy with its 24-hour trading hours and diversification.
Motor Scooters
The Forex market is the biggest in the world with over trillion dollars revenue every day. That amount is not even matched by the combined revenue earned by the stock markets of Tokyo and New York. Forex trading is a huge sensation every eager and brave investor is contemplating to engage in.
Traders are often compared to a hunter always ready for the next kill. Well, not that they are psychopaths that chop people to pieces; traders are interested in getting the greatest profit in the matter of days. Also traders are described as gamblers. They place their money on various investments when the future is so bleak. The thrill of the jackpot is for the gambler while thrill in having the biggest return is for the trader. Traders are also very careful people weighing out the odds in very move and using all manner of analysis to tip the odds into their favor to reap rewards.
Just finding this article proves you are interested in trading and currently gathering information whether to go into Forex trading or not. Surely you have heard about Forex trading. It is the shortcut of Foreign Exchange. Simply defined, it is the exchange of currencies. The goods traded are money such as stocks as in the stock market or candies in a candy store.
There is currently an increase in Forex traders. Why are a lot of people going into Forex trading? Why do they find Forex trading exciting?
The answer lies in diversification and 24-hour trading. Well, that is just a few of the reasons why people get into Forex trading. Other would say the excitement lies in the volatility, liquidity, and increased leverage. Those factors would have to be discussed in another article. Here, the reason of getting into Forex trading is the diversification and long hours of trading.
You could have heard the old adage that you should never place all your eggs in one basket so that when you drop the basket, you will still have eggs for breakfast. That is not exactly the words of wisdom said but you get the gist. Forex trading allows investors to spread portfolio along different options so that a decrease in the value of this option will not swoop all your future and leave you broke.
Also in Forex, you can trade with countries across the ocean without buying a plane ticket. Say you own US dollars and its value began sliding down, to save the value of your US dollars you trade it to currencies whose values are rising that what you maintain the value of your money although in another currency.
Most traders like the 24-hour availability of Forex: there is no closing time and no holidays. The physical Forex trading building will close but Forex trading can go on online. The various time zones make the closing of Forex trading impossible. When the Forex markets of Sydney closes, you may opt to trade with the Hong Kong Forex market instead.
The Forex market is one avenue to earn money if you know how. If you are just starting or interested in trying Forex trading, you will be happy with its 24-hour trading hours and diversification.
Motor Scooters
Feb
18
Do you know any stocks that rapidly fell during after trading hours before thanksgiving holiday started? thank
Filed Under Investing | 2 Comments
8 wrote:
*rapid is just exaggeration.
*rapid is just exaggeration.
Just tell any stocks then fell in after trading hours thanks.,
Insurance Quotes
Feb
9
NYSE after hours trading?
Filed Under Investing | 2 Comments
Matt K wrote:
I thought the NYSE does not allow for after hours trading. I currently own a stock that trades on the NYSE and it’s up 9 cents in the after hours trading.
How can you tell whether a stock, ON THE NYSE, trades after hours before you buy it?
I’m in APC = Anadarko Petroleum Corp.
Insurance Quotes
I thought the NYSE does not allow for after hours trading. I currently own a stock that trades on the NYSE and it’s up 9 cents in the after hours trading.
How can you tell whether a stock, ON THE NYSE, trades after hours before you buy it?
I’m in APC = Anadarko Petroleum Corp.
Insurance Quotes
Feb
8
Zachary Riff wrote:
Most people would liken stock trading with gambling. However, in truth, the two couldn’t be more different. In fact, stock trading isn’t simply buying and shares as well. Developing a good trading strategy is the key to making it in the stock market. A stock market simulator, is an online game application that duplicates aspects of real-life stock markets, from trading strategies and information, down to the varying stock market hours of the different stock exchanges. Read on and know more about how you can learn and practice stock trading with an online stock game simulator.
Two types of online stock game applications are available online for you to practice stock trading skills and strategies. Naturally, no real money is involved; play money is used, so you can practice stock trading without the financial risk. The two types of stock market simulators are: Financial and fantasy stock game simulators.
If you want to practice stock trading through a fictional portfolio based on real stock entries, scenarios and stock market hours, then the financial stock market simulator is the best one for you. Because this type of stock market simulator downloads and processes real and actual stock trading numbers and information, most online trading websites that offer these free stock games use a delayed data feed, that sends the information well after the end of the stock market hours. This prevents any abuse of the stock market simulator and the system by unscrupulous traders who want an edge before the start of the stock market hours of the next day.
Most online simulator systems ensure that the stock market information and data may not be used to do actual stock trading before, during and after stock market hours using their information. Safe, reliable and enjoyable, a financial stock market online simulator is a great way for you to practice actual stock trading scenarios and gain experience and a working strategy before you move up to the real thing.
Another type of simulator is the fantasy simulator. This type lets you practice stock trading through thoroughly hypothetical yet amusing settings. While it retains many essential features of the stock market like premium stock picks and options, trading tickers, regular stock market hours, other traders, among others. But unlike the financial simulator application, fantasy stock market simulators feature imaginary stocks that, while representing real items, would never be actually traded in a real stock market trading setting.
Traded items in fantasy stock market simulators would include questions on how long books will last on selected bestseller lists, the box-office success of specific movies, antics of infamous celebrities, rankings and statistics of sports teams and events, and more. The value of a fantasy stock market simulator is in its application of stock market principles and how these may work given a stock trading setting.
The simulator uses the analogy to teach anyone with no background in trading understand how the stock market works. Fantasy stock market simulators use these items because they are familiar to a lot of people, thus opening opportunities for learning online stock trading to more and more people. This is one way where you get to practice stock trading techniques and strategies while having fun.
Getting the hang of how shares are bought and sold, and how other variables like stock market hours affect your investments are all part of your learning experience. Learning the ropes with a stock market simulator is one of the best ways to get you started with trading stocks.
Most people would liken stock trading with gambling. However, in truth, the two couldn’t be more different. In fact, stock trading isn’t simply buying and shares as well. Developing a good trading strategy is the key to making it in the stock market. A stock market simulator, is an online game application that duplicates aspects of real-life stock markets, from trading strategies and information, down to the varying stock market hours of the different stock exchanges. Read on and know more about how you can learn and practice stock trading with an online stock game simulator.
Two types of online stock game applications are available online for you to practice stock trading skills and strategies. Naturally, no real money is involved; play money is used, so you can practice stock trading without the financial risk. The two types of stock market simulators are: Financial and fantasy stock game simulators.
If you want to practice stock trading through a fictional portfolio based on real stock entries, scenarios and stock market hours, then the financial stock market simulator is the best one for you. Because this type of stock market simulator downloads and processes real and actual stock trading numbers and information, most online trading websites that offer these free stock games use a delayed data feed, that sends the information well after the end of the stock market hours. This prevents any abuse of the stock market simulator and the system by unscrupulous traders who want an edge before the start of the stock market hours of the next day.
Most online simulator systems ensure that the stock market information and data may not be used to do actual stock trading before, during and after stock market hours using their information. Safe, reliable and enjoyable, a financial stock market online simulator is a great way for you to practice actual stock trading scenarios and gain experience and a working strategy before you move up to the real thing.
Another type of simulator is the fantasy simulator. This type lets you practice stock trading through thoroughly hypothetical yet amusing settings. While it retains many essential features of the stock market like premium stock picks and options, trading tickers, regular stock market hours, other traders, among others. But unlike the financial simulator application, fantasy stock market simulators feature imaginary stocks that, while representing real items, would never be actually traded in a real stock market trading setting.
Traded items in fantasy stock market simulators would include questions on how long books will last on selected bestseller lists, the box-office success of specific movies, antics of infamous celebrities, rankings and statistics of sports teams and events, and more. The value of a fantasy stock market simulator is in its application of stock market principles and how these may work given a stock trading setting.
The simulator uses the analogy to teach anyone with no background in trading understand how the stock market works. Fantasy stock market simulators use these items because they are familiar to a lot of people, thus opening opportunities for learning online stock trading to more and more people. This is one way where you get to practice stock trading techniques and strategies while having fun.
Getting the hang of how shares are bought and sold, and how other variables like stock market hours affect your investments are all part of your learning experience. Learning the ropes with a stock market simulator is one of the best ways to get you started with trading stocks.
Feb
7
Trading Problems - Maintaining Focus
Filed Under Finance | Leave a Comment
Lance Beggs wrote:
I once heard a statement by Rebecca Fine of www.scienceofgettingrich.net that says something along the lines of “If what you’re thinking about isn’t something that you want to have happen in the next three minutes… get rid of the thought and think something else.”
While that’s a great way to live your whole life, and I certainly try to do so, it equally applies to the process of trading, specifically ensuring that we maintain focus during the conduct of our analysis.
Maintaining focus can be difficult. Not only will you face distractions from external sources, such as the phone ringing right during a prime setup, or your partner asking for a lightbulb to be changed, or your children asking for help with their homework, but you also face internal distractions from your negative fear-based trading mindset. These internal distractions may be less obvious to the novice trader, but the results can be devastating for your profitability.
If you have not yet mastered your negative fear-based trading psychology, then you are going to face never ending distractions that divert your focus from the job at hand - consistent implementation of your trading plan.
Regardless of how these fears manifest within your trading - complacency, boredom, doubt, procrastination, denial - they will lead only to inconsistent and unprofessional application of your trading plan. And that cannot lead to long term consistent profits.
How do we deal with this negative fear-based trading psychology? Well, that subject cannot be addressed in one article. I’m currently working on a complete home-study program on the mastery of trading psychology, which will provide you with the tools, strategies and techniques for overcoming these issues.
However in the meantime this statement from Ms Fine provides you with a really simple tool to add to your trading toolkit, to ensure you maintain focus during your analysis despite any internal or external distractions.
The process is similar for both long term traders and short term traders. But let’s talk short term first, because that’s primarily what I do.
As a day trader, your success comes from consistent application of your trading plan. Success comes from conducting analysis on a regular basis throughout the trading session, either on the close of each candle or on a price-alert as price reaches a certain preset level, and then acting appropriately to enter, manage or exit your trades.
What do you need to do to ensure that your focus remains on the process of trading?
Here’s what I do:
1. Document the analysis and decision making process. Have clearly defined actionable steps that you need to carry out every candle to reach your decision to hold, enter, exit, or adjust your stop loss or profit targets.
2. Set an alarm to go off prior to every candle. If I trade off 5 minute charts, I have an alarm go off 30 seconds before the close of each candle to allow me to pause and check my thoughts. If my thoughts are not related to the objective analysis of the market and the correct implementation of my plan, then they’re discarded. My focus is then returned to the documented trading process.
This works regardless of timeframe. If I was trading off one hour charts, I’d set an alarm to activate just prior to the close of each one hour candle. If I was trading off one minute charts, I’d still set an alarm to go off just before the close of each one minute candle. If I was just waiting for a price setup at a particular price level, and had no intentions of trading until price hit that level, then I’d just set an alarm for price hitting that target.
Setting an alarm for timeframes of 15 minutes upwards is certainly a great idea, as you won’t necessarily be sitting watching the screen the whole time in-between candles. However, you might ask whether it’s really necessary for very short timeframes, such as one minute charts. The fact is though, that it is necessary, and it does work. It is amazing how often I find my mind wandering elsewhere. More often than not, it’s thinking about something unrelated to my trading plan. The alarm interrupts this thought pattern, and allows a return of thought and focus to what’s important.
Try it, and if you find yourself suddenly wondering what the MACD shows, and it’s not part of your plan, discard that thought - it’s irrelevant to this trade. If you find yourself suddenly thinking that you need to win this next trade to get back to breakeven, discard that thought - it’s irrelevant to this trade. If you find yourself wondering where you should go next holidays, discard the thought. Once again, it’s irrelevant. Interrupt any unwanted thoughts, and think something else that will help you trade your plan in a consistent manner.
Oh, and so that you don’t burn out through having an alarm go off every minute for an eight hour trading session, let’s add a step 3:
3. If you are trading a very short timeframe, program breaks into your session, to get away from the markets. Relax, recharge and refresh yourself, so that you can keep up this pace.
For longer term traders, let’s say someone trading off daily charts, the problems are the same. In your case, you have a process that needs to be followed to come up with your decisions to enter a trade, exit a trade, or modify target or stop levels.
In this case, you still need to implement step one, documented actionable steps that allow for consistent application of your plan. Consider something like a checklist, or flowchart.
You can probably dispense with the alarms, as you only need to complete the process once. However for longer term traders, I’d recommend including statements within your documented process to remind you to check your thoughts, and return them to the process of trading.
Perhaps prefix every step with a documented reminder such as, “I am a professional trader, and a professional trader trades their plan in a consistent manner”. Then, the act of commencing each step of your nightly analysis, will serve as a regular interrupt to unwanted thoughts, and a return of your focus to the job at hand.
This way, there’s no need to be going and checking other indicators for further confirmation, when it’s not part of your plan. There’s no need to be checking other news sources for further justification of your decisions, when it’s not part of your plan. There’s no need to be emailing or phoning your friends to seek their thoughts on a particular stock or chart, when it’s not part of your documented process. These are actions of people who have lost focus, and whose trading destiny is being led by their fear and greed.
As a professional trader, you simply follow your steps. And use your alarms, or documented checklist steps, to interrupt any unwanted thoughts, and return your focus to the business of trading.
So, if you don’t already have a checklist or flowchart set up for all actions that must be carried out during your analysis, then create one. And place in it reminders to monitor your thoughts, and reject anything that is unrelated to the current task at hand.
And if you day trade, set up an alarm, either price based if you simply wait for price to hit certain levels before making trading decisions, or a countdown timer if your decisions are time-based. Then reject any thoughts that are unrelated to the process of trading. And follow your plan with consistency.
Wishing you happy, and focused, trading,
Lance Beggs.
© Copyright 2008. Lance Beggs. www.yourtradingcoach.com. All Rights Reserved.
How to Lose Weight
I once heard a statement by Rebecca Fine of www.scienceofgettingrich.net that says something along the lines of “If what you’re thinking about isn’t something that you want to have happen in the next three minutes… get rid of the thought and think something else.”
While that’s a great way to live your whole life, and I certainly try to do so, it equally applies to the process of trading, specifically ensuring that we maintain focus during the conduct of our analysis.
Maintaining focus can be difficult. Not only will you face distractions from external sources, such as the phone ringing right during a prime setup, or your partner asking for a lightbulb to be changed, or your children asking for help with their homework, but you also face internal distractions from your negative fear-based trading mindset. These internal distractions may be less obvious to the novice trader, but the results can be devastating for your profitability.
If you have not yet mastered your negative fear-based trading psychology, then you are going to face never ending distractions that divert your focus from the job at hand - consistent implementation of your trading plan.
Regardless of how these fears manifest within your trading - complacency, boredom, doubt, procrastination, denial - they will lead only to inconsistent and unprofessional application of your trading plan. And that cannot lead to long term consistent profits.
How do we deal with this negative fear-based trading psychology? Well, that subject cannot be addressed in one article. I’m currently working on a complete home-study program on the mastery of trading psychology, which will provide you with the tools, strategies and techniques for overcoming these issues.
However in the meantime this statement from Ms Fine provides you with a really simple tool to add to your trading toolkit, to ensure you maintain focus during your analysis despite any internal or external distractions.
The process is similar for both long term traders and short term traders. But let’s talk short term first, because that’s primarily what I do.
As a day trader, your success comes from consistent application of your trading plan. Success comes from conducting analysis on a regular basis throughout the trading session, either on the close of each candle or on a price-alert as price reaches a certain preset level, and then acting appropriately to enter, manage or exit your trades.
What do you need to do to ensure that your focus remains on the process of trading?
Here’s what I do:
1. Document the analysis and decision making process. Have clearly defined actionable steps that you need to carry out every candle to reach your decision to hold, enter, exit, or adjust your stop loss or profit targets.
2. Set an alarm to go off prior to every candle. If I trade off 5 minute charts, I have an alarm go off 30 seconds before the close of each candle to allow me to pause and check my thoughts. If my thoughts are not related to the objective analysis of the market and the correct implementation of my plan, then they’re discarded. My focus is then returned to the documented trading process.
This works regardless of timeframe. If I was trading off one hour charts, I’d set an alarm to activate just prior to the close of each one hour candle. If I was trading off one minute charts, I’d still set an alarm to go off just before the close of each one minute candle. If I was just waiting for a price setup at a particular price level, and had no intentions of trading until price hit that level, then I’d just set an alarm for price hitting that target.
Setting an alarm for timeframes of 15 minutes upwards is certainly a great idea, as you won’t necessarily be sitting watching the screen the whole time in-between candles. However, you might ask whether it’s really necessary for very short timeframes, such as one minute charts. The fact is though, that it is necessary, and it does work. It is amazing how often I find my mind wandering elsewhere. More often than not, it’s thinking about something unrelated to my trading plan. The alarm interrupts this thought pattern, and allows a return of thought and focus to what’s important.
Try it, and if you find yourself suddenly wondering what the MACD shows, and it’s not part of your plan, discard that thought - it’s irrelevant to this trade. If you find yourself suddenly thinking that you need to win this next trade to get back to breakeven, discard that thought - it’s irrelevant to this trade. If you find yourself wondering where you should go next holidays, discard the thought. Once again, it’s irrelevant. Interrupt any unwanted thoughts, and think something else that will help you trade your plan in a consistent manner.
Oh, and so that you don’t burn out through having an alarm go off every minute for an eight hour trading session, let’s add a step 3:
3. If you are trading a very short timeframe, program breaks into your session, to get away from the markets. Relax, recharge and refresh yourself, so that you can keep up this pace.
For longer term traders, let’s say someone trading off daily charts, the problems are the same. In your case, you have a process that needs to be followed to come up with your decisions to enter a trade, exit a trade, or modify target or stop levels.
In this case, you still need to implement step one, documented actionable steps that allow for consistent application of your plan. Consider something like a checklist, or flowchart.
You can probably dispense with the alarms, as you only need to complete the process once. However for longer term traders, I’d recommend including statements within your documented process to remind you to check your thoughts, and return them to the process of trading.
Perhaps prefix every step with a documented reminder such as, “I am a professional trader, and a professional trader trades their plan in a consistent manner”. Then, the act of commencing each step of your nightly analysis, will serve as a regular interrupt to unwanted thoughts, and a return of your focus to the job at hand.
This way, there’s no need to be going and checking other indicators for further confirmation, when it’s not part of your plan. There’s no need to be checking other news sources for further justification of your decisions, when it’s not part of your plan. There’s no need to be emailing or phoning your friends to seek their thoughts on a particular stock or chart, when it’s not part of your documented process. These are actions of people who have lost focus, and whose trading destiny is being led by their fear and greed.
As a professional trader, you simply follow your steps. And use your alarms, or documented checklist steps, to interrupt any unwanted thoughts, and return your focus to the business of trading.
So, if you don’t already have a checklist or flowchart set up for all actions that must be carried out during your analysis, then create one. And place in it reminders to monitor your thoughts, and reject anything that is unrelated to the current task at hand.
And if you day trade, set up an alarm, either price based if you simply wait for price to hit certain levels before making trading decisions, or a countdown timer if your decisions are time-based. Then reject any thoughts that are unrelated to the process of trading. And follow your plan with consistency.
Wishing you happy, and focused, trading,
Lance Beggs.
© Copyright 2008. Lance Beggs. www.yourtradingcoach.com. All Rights Reserved.
How to Lose Weight
Feb
6
amon1478 wrote:
can someone explain to me what exactly it is? The history behind it, how it works, and also how long it takes an order to process?
Thanks.
can someone explain to me what exactly it is? The history behind it, how it works, and also how long it takes an order to process?
Thanks.
Feb
5
amon1478 wrote:
can someone explain to me what exactly it is? The history behind it, how it works, and also how long it takes an order to process?
Thanks.
Search Engine Placement
can someone explain to me what exactly it is? The history behind it, how it works, and also how long it takes an order to process?
Thanks.
Search Engine Placement
Feb
1
Day Trading System > Stock Market Trading Software - When to Buy and Sell Stocks ?
Filed Under Software | Leave a Comment
Day Trading System wrote:
By.- http://www.MomentumStockPick.com
We all know that in the stock market is always possible to watch certain stocks go up more than 50% within a few hours to days. This is especially true in the 4th quarter of the year where the buying frenzy starts in wall street.
The financial media constantly reports about momentum stocks that are achieving tremendous gains during the same day. And even when you can see online investors that make $3000 on a single trade, it is also not unusual to watch beginner stock investors lose a great deal of money because of a series of unwise decisions
The problem is that if you don’t know how to pick among stocks & how to properly approach them you could end up wasting dollars instead of making your wallet happy. You can’t just trade stocks like if you where gambling in Vegas or Atlantic City.
The first step in becoming a profitable trader is to start learning how to pick and trade stocks. There are many “ultimate” trading systems out there, but you need to test them in order to discover which ones help you the most. That’s part of your homework as a stock trader. Test several strategies and then test them again until you are able to produce consistent winnings.
Bogus stock trading software programs and complicated day trading systems that rely on a “boat load” of technical analysis indicators can confuse you and make you slow, and being slow when trading stocks can be as dangerous as not knowing what to do in the first place.
The worst thing that can happen to a beginner stock market trader is to get information overload. It’s better to go step by step, and test a practical trading strategy that can help you focus on simple ways to make money while picking SOLID hot stock trading opportunities once at a time.
In the end, stock trading is all about buying and selling according to your especific knowledge FILTER. Once you master and follow your proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.
Fortunately some websites on the internet can show you how to use effective and proven stock trading strategies. One of those sites that can show you how to take advantage of hot stocks using simple to understand and apply momentum trading strategies is http://www.MomentumStockPick.com
Visit them today & discover how to profit in the stock market by picking hot stock trading opportunities in a realistic way every week.
Online Business
By.- http://www.MomentumStockPick.com
We all know that in the stock market is always possible to watch certain stocks go up more than 50% within a few hours to days. This is especially true in the 4th quarter of the year where the buying frenzy starts in wall street.
The financial media constantly reports about momentum stocks that are achieving tremendous gains during the same day. And even when you can see online investors that make $3000 on a single trade, it is also not unusual to watch beginner stock investors lose a great deal of money because of a series of unwise decisions
The problem is that if you don’t know how to pick among stocks & how to properly approach them you could end up wasting dollars instead of making your wallet happy. You can’t just trade stocks like if you where gambling in Vegas or Atlantic City.
The first step in becoming a profitable trader is to start learning how to pick and trade stocks. There are many “ultimate” trading systems out there, but you need to test them in order to discover which ones help you the most. That’s part of your homework as a stock trader. Test several strategies and then test them again until you are able to produce consistent winnings.
Bogus stock trading software programs and complicated day trading systems that rely on a “boat load” of technical analysis indicators can confuse you and make you slow, and being slow when trading stocks can be as dangerous as not knowing what to do in the first place.
The worst thing that can happen to a beginner stock market trader is to get information overload. It’s better to go step by step, and test a practical trading strategy that can help you focus on simple ways to make money while picking SOLID hot stock trading opportunities once at a time.
In the end, stock trading is all about buying and selling according to your especific knowledge FILTER. Once you master and follow your proven filter parameters like a clock, you can expect to start making serious amounts of cash on a consistent basis.
Fortunately some websites on the internet can show you how to use effective and proven stock trading strategies. One of those sites that can show you how to take advantage of hot stocks using simple to understand and apply momentum trading strategies is http://www.MomentumStockPick.com
Visit them today & discover how to profit in the stock market by picking hot stock trading opportunities in a realistic way every week.
Online Business












