10 Winning Investment Tips To Guarantee Trading Success

By: Brian Lee
Submitted: 2007-01-17 16:15:37
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If you have any experience with trading or even if you don’t, here are some tips that I have learnt from one of the roughest schools in life. What school would that be? Why that would be from the school of hard knocks. Yup, the lessons learned were painful and expensive but the lesson got across very well. So hopefully, this report will save you the pain and financial lessons I had to endure.

If you have been trading or planning to start and have wiped out an account, don’t be disheartened. I know I pretty much wiped out a trading account when I first started, now I’ve developed a system where I make a consistent 100% annually. You see most of the successful traders we know have loss their entire account at least once before learning from their mistakes and start consistently turning over a profit on an annual (daily, weekly or monthly depending on your trading styles and goals) basis.

1.Trading is simple, but it isn’t easy. If you see yourself having a future in this industry, forget about "hope" and stick to your stop loss.

2.When you open a trade, start looking for signs that you were wrong. If you see them, then get out before your stop loss is executed.

3.Don't open a trade just because it is cheap. The only reason to open a position is when the underlying security looks set up to make a decent move.

4.Good trading should be boring, like doing the same thing over and over again. If there’s one thing I guarantee in trading, it’s that "thrill seekers" or adrenaline junkies get their accounts grounded into tiny bits and pieces.

5.The turning point of when amateur traders turn into professional traders is when they stop searching and hoping for the "next great technical indicator" and start managing their risk on each trade.

6.You are buying and trading on the emotions of other traders, not the actual stock. You have to be aware of the human psychology and emotions that constitute trading.

7.Always be in control and aware of your own sea of emotions. Every trader’s downfall will come from not being able to control your emotions. If you are screaming at your computer screen, begging your stocks to move in your favor, you have to stop and ask yourself, "Is this rational?" Ease in. Ease out. Keep your stops. Don’t scream and shout.

8.Always remember, trading is supposed to be a business. So treat it like one by not letting your emotions get in the way, stick to your stop loss.

9.Beware of your number one enemy, yourself! If you start to get too excited, beware! As excitement clouds your judgment, it starts to increases your risk.

10.If you come into trading with the idea of making “big money overnight,” you’re better wake up and smell the coffee. Most accounts have been blown because of this “account killer” mindset.

By Brian Lee http://www.elitemarketeer.com Learn How I Make 100% Returns annually! Get “47 Winning Investment Tips To Guarantee Trading Success” Totally FREE At http://www.EliteMarketeer.com

By Brian Lee http://www.elitemarketeer.com Learn How I Make 100% Returns annually! Get “47 Winning Investment Tips To Guarantee Trading Success” Totally FREE At http://www.EliteMarketeer.com

Article source: Expert Articles

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