| The first reason why 80% of stock market traders | | | | size when you are on a winning streak and minimize |
| fail in their first year, is they do not walk into the | | | | positions when on a losing streak. |
| game with a solidified plan of attack. | | | | 5. What type of methodology are you going to |
| Below are the top 8 Secrets Of A Successful Stock | | | | incorporate into your trading. Are you going to use |
| market Trader:- | | | | fundamental style analysis or pure technical. Or both? |
| 1. What times will you trade, but more importantly, | | | | 6. Are you going to trade under a corporate business |
| when will you NOT make trades? here are some | | | | name, or just yourself. Sometimes there are tax |
| simple suggestions: Get a good nights rest, and never | | | | incentives if you are trading as a business. |
| trade when you are tired. If you are emotionally | | | | 7. Schedule and rhythm are the habits of successful |
| stressed or intoxicated you should stay away from | | | | traders. Work out a daily ritual and stick to that |
| the screens also. These will minimize your risk and | | | | religiously. I.e. Charts, news, analysis, live trading. Once |
| maximize your gains. | | | | you get a daily ritual you feel comfortable and it is |
| 2. Decide on what vehicles you will trade and say | | | | making you money consistently, do not deviate away |
| vigilant. Chopping and changing is a big no no in this | | | | from this. |
| game. Stick to one vehicle and master that before | | | | 8. Work out your profits and losses at the end of |
| you move on. Are you going to trade ETF's, Futures, | | | | the day. Work out what works for you and what |
| Indices, Metals or individual stocks only. | | | | doesn't. Only reflect on mistakes for a few minutes |
| 3. Always have a back up plan. What secondary | | | | and invent ways around these mistakes so that you |
| equipment will you use, in case of an emergency, or | | | | don't make them again. Treat each day differently |
| a massive power failure. How will you get in touch | | | | and consciously think about making profits, and never |
| with your stock broker in such a situation. | | | | be negative and preempt a losing day. |
| 4. How much capital are you willing to risk on a single | | | | This is in no way a simple exhaustive set of tips. |
| positions. How far are you willing to leave a winning | | | | These are just some simple ideas to help you get |
| or losing position. Are you going to up your positions | | | | started. |