Before the year 2000 it was much easier to make money, because the market was volatile and you could make nice money with the market swings using a proper plan, discipline and a quick but steady hand.
Since then it has become more difficult. Many of the day traders have gone by the way side for many reasons. Data still shows for the long term the stock market is the best place to be. I have put together just a few ideas of what I believe are good tidbits of information on the market and they are as follows:
1. Sell when you want to not when you have to.
2. Buy after the market has had 2 - 3 days of hard selling then takes out the high of the lowest day in that period. If your stock buy point matches then you got something to look at as a possible trade.
3. Sell after the market has had 2 - 3 days or wild buying then takes out the low of the highest day in that period. If your stock sell point matches then you got something to look at as a possible trade.
4. Use Discipline when trading. Have a plan that clearly states entry and exit points before you buy or sell a stock.
5. Understand your emotions. Greed will try to talk you out of taking a profit, letting the stock fall back before taking action. Fear of taking a loss will prevent you from taking action only to cause further losses.
6. Learn as much as you can by reading and taking seminars from someone who has been successful. Why learn from someone who is only talk. Check them out.
7. You trading plan should specify how much of your portfolio should be a risk for any given time.
I could go on an on. It's amazing what you learn over the years from trading, reading, seminars etc. I cannot tell you how much I spend on the knowledge side. It was worth every penny.
If you will do your research you can find software that can help you automate the process. I found in my research that they have gone way done in price. It's amazing what you can get now days for a fraction of what I use to pay. What should you do next?
Think about the above items, develop a plan, find software you like to implement your plan and hopefully you can automate the process. In doing my research I found some new exciting software that can not only automate the process, but help you with the decision making process as well.
Make your you do your research when looking for these programs by either using a website like mine, but not necessarily mine or do the work yourself. It is very important. Give your self a chance at success. Please feel free to read both this article or one of my many others by visiting my link in the resource box below. I always enjoy getting emails pertaining to my articles or my site. Your feedback is important to me.
