A daily routine helps keep traders on task with the things they are supposed to be doing, instead of succumbing to distraction. A daily routine, along with a pre-trade checklist, aligns us with our trading plan—which is our written plan for...
Profitable and consistent trading is about finding a balance between your win-rate and risk/reward ratio. Here’s how to do it. I have multiple strategies. Some have higher win-rates, others lower, some have high reward:risk, some have lower. Win-rate is how...
A trading plan is a document we create for ourselves that outlines exactly how we will trade and operate in relation to our trading activities. Having a trading plan, and following it, builds consistency and allows for improvement over time....
To get into the zone for day trading, I recommend having at least a 5-minute morning routine that you do before you start day trading. The routine gets you into the proper mind frame: focused, detached from results, confident (not...
Van Tharp focuses on trading psychology and has been doing it since the 80s. He attempts to get traders to realize their full potential by removing blocks and mental obstacles that are affecting/hurting their trading. The Peak Performance 101 workshop...
Here is the real answer on the odds of becoming a successful day trader. This data is based on the success rate I witnessed while day trading for a propriety trading firm for 6 years, and also from conversations with...
These day trading practices have the potential to dramatically improve results. Day trading is a mentally engaging process, and these practices are designed to keep us alert and focused, yet relaxed and confident. All key ingredients for trading well and...
Knowing how a long trade may last has multiple benefits. Before taking a trade, write down or be aware of how long similar trades have typically taken before reaching a profitable exit, such as a profit target or trailing stop loss. Do...
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