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tactrade Profile and Articles
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1). Day Trading Indicators and Indicator Trading
Did You Begin Day Trading As An Indicator Only Trader?
Did you start day trading after buying a book on technical analysis, and getting a charting program - probably a free one that you found online - in order to save money? While reading your book you learned about trading indicators which could 'predict' price movement, and what do you know, the 'best' indicators were actually included in your free charting program - let the games begin.
2). Paper Trading And The Transition To Real Money Trading
Paper trading is widely discussed regarding its merits, and whether it is of value to a trader as they try to make the transition to real money trader. One viewpoint is that since paper trading is not real, the profits are meaningless, and are no indication of real money profitability. An opposite viewpoint would state that paper trading is an important step in the trader’s learning progression, and regardless of whether it is real, if the trader cannot ‘properly’ paper trade, then they will not be able to real money trade.
3). So You Want To Become A Futures Day Trader
You wake up one morning with a really BAD idea – you have decided to start making your living by becoming a futures day trader. BUT how can this be such a bad idea, don’t people get rich day trading futures? Where did that idea come from? Did you see one of those ‘work’ for 10 minutes a day and make $4200, ‘get rich quick never lose’ hype system ads? Or did you visit a chatroom, and the ‘resident guru’ made it all sound so easy? Maybe, the title of this article should have been – How To Die A Painful Death Chasing A Carrot.
4). The Trading Psychology Plan
And what a great analogy ‘string up’ is, because after all those months of paper trading winners are replaced with real money losses, that is exactly what you will feel like doing to yourself.
The Trading Psychology Viewpoint
No discussion about trading, or the consideration to begin trading, can be done without a harsh realization - the vast majority of all traders lose.
5). Trading Psychology - Consecutive Loses AND The Trading Psychology Spiral
You go long and the market immediately goes down - you go short and the market immediately goes up. That's 2 consecutive losses, and you are getting a little 'anxious' so you don't take the 'next' trade. Of course, this trade is a winner. Now to make the situation worse, you then 'chase' the move, and as soon as you enter the trade it immediately reverses, thus giving you another loss – this is now 3 in a row.
6). Trading Psychology -vs- Trading Method
It is said that trading is 90% psychological and 10% methodological. Does this then imply that regardless of trading method, a trader that has control over their emotional issues will thus be a profitable trader, or will it be impossible to ever control emotions without the proficient implementation of method? The trading method viewpoint will suggest that not only are these statistics not the case - trading psychology does not exist.
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