Thus, the blaming mentality of traders after they lose has become a myth to believe trading is a gambling. The amateur traders don 8767 t have a proper trading plan, right mentor to learn and most even don 8767 t read. Just collect easy information of print media and believe one can successful in trading.
The Similarities Between Day Trading and Gambling
So let me ask you a question. Because this is really where we start to hone in and identify what process is REALLY behind a successful day trade (or any trade, for that matter):
Is Day Trading Like Gambling?
Traders using the news-based strategy will follow economic news reports as an indicator of short-term market movement. This post explores the definitive 8 step process to trading with an economic calendar .
We study the technical charts of various stocks. Technical Indicators are applied on these charts. This gives the almost precise target price for a stock and also a stop loss to exit out of market to keep our risk minimum.
#6 Pivots, Patterns, and Intraday Swing Trades, + Website: Derivatives Analysis with the E-mini and Russell Futures Contracts by M. William Scheier
It 8767 s also accurately called 8766 never learning to trade properly as a professional 8767 , and in the same way that senior traders work for banks and other large financial institutions.
It is one thing to lose your own money, but you should never allow the market to place you in a position where you are going in debt due to your trading. If you can’t turn a profit with your own cash, what makes you think you will turn a profit with borrowed money? It’s not about trading larger in order to make money it’s about trading smarter with what you have on hand.
It is important to study evaluate each trading strategy and see what best suits you. Ask yourself what really resonates, or what seems more natural and logical to the way that you are as a person.
The point of these people about not being able to know about the direction of price movement is right to some extent. Sometimes markets just surprise everyone and start behaving opposite to our expectation.
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