Averaging down is adding to a position as the trade loses money. The logic is that buying at lower prices reduces the average price of the position. This increases the gain if the price goes back up, or gets the […]
What we WANT plays a big role in how most people trade. Most people focus on what they want—the end result—not how to get there. Most people WANT to place trades while sitting in front of their platform. Or they […]
We can only improve so much by looking at other people’s trades. The “level-up” is when we find ways to improve our own trades…the trades we end up taking most often. This is the gritty work that most people don’t […]
There is a wide range of trading systems and traders, ranging from fully-automated and 100% rule-based, to some rules with discretion, to basically no rules and total discretion. One style of trading will certainly fit us better than other styles, […]
Struggling with impulsive or random trades? Missing trades you should be in? Try “commentating” the price action to stay engaged and focused on the correct things while trading. When I do it, it nearly eliminates trading mistakes. It’s only when […]
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 […]
It would be nice if profitable (or more profitable) trading happened in a flash of insight or a startling realization. Sometimes it does, but almost always it is simply a grind of making tiny regular improvements month after month. This […]
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 […]
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