Your SlideShare is downloading. ×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Seven Easy Steps to Stock Trading Profits

415
views

Published on

Stock trading is like any business in that it starts with the basics and progresses through several stages. Our seven easy steps to stock trading profits start with getting set up, learning how to do …

Stock trading is like any business in that it starts with the basics and progresses through several stages. Our seven easy steps to stock trading profits start with getting set up, learning how to do technical analysis and developing a strategy. Successful day trading comes from a sound fundamental knowledge of stocks traded and diligence in applying the principles of technical analysis in a timely fashion.

Get Set Up

Before you learn how to become a day trader, you will need a trade station, strong and reliable internet connection, and computer trading software compatible with what your broker uses. That means that you should pick a broker and use compatible software for online stock trading.

Learn the Basics

Technical analysis of stocks allows day traders to anticipate stock price movements. Markets repeat themselves and there are distinct patterns that tend to predict future stock price changes. Essentially the day trader reads the first half of the pattern to anticipate the second half. Doing technical analysis and trading based on its predictions requires knowledge of technical patterns and is also part performance art. Stage fright is not so much of an issue in day trading but the twin demons of fear and greed are.

Pick a Coach

The old saying is that experience is the best teacher. However, if that experience comes at the expense of losing your trading capital, there is a better way. Hire a stock trading coach and follow his or her trading cues. Learn from the experience of others. You can practice simulation trading all day long to get the rhythm of trading. But, when you put your own money on the line in a trade it is a different matter. Learn from a pro and your trading experience will likely become profitable much sooner than if
you simply go it alone.

Devise a Strategy

There are lots of potentially profitable day trading strategies. You can engage in scalping, trend trading, or range trading. Many take a contrarian approach to day trading and wait for market reversals. All approaches can be profitable. This is part of our seven easy steps to stock trading profits because it is essential to devise a single strategy and follow it throughout the trading day. Day trading stocks is a business and a sound business operates according to a plan. Show up for work. Devise your plan. Follow your plan.

Keep Track of Results

There are two types of audios in our seven easy steps to stock trading profits. One is a results audit and the other is a process audit. Keep track of your trading results. Where did you make money and where did you lose? How many trades did you make and what was your cost in fees and commissions? When you have spotted the high and low points in your results audit do a process audio. This means that you will look at you plan, if you were following it or not, and how well it worked.


0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
415
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
13
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Seven Easy Steps to Stock Trading Profits By: www.ProfitableTradingTips.com
  • 2. Stock trading is like any business in that it starts with the basics and progresses through several stages. Our seven easy steps to stock trading profits start with getting set up, learning how to do technical analysis and developing a strategy. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 3. Successful day trading comes from a sound fundamental knowledge of stocks traded and diligence in applying the principles of technical analysis in a timely fashion. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 4. Get Set Up By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 5. Before you learn how to become a day trader, you will need a trade station, strong and reliable internet connection, and computer trading software compatible with what your broker uses. That means that you should pick a broker and use compatible software for online stock trading. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 6. Learn the Basics By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 7. Technical analysis of stocks allows day traders to anticipate stock price movements. Markets repeat themselves and there are distinct patterns that tend to predict future stock price changes. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 8. Essentially the day trader reads the first half of the pattern to anticipate the second half. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 9. Doing technical analysis and trading based on its predictions requires knowledge of technical patterns and is also part performance art. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 10. Stage fright is not so much of an issue in day trading but the twin demons of fear and greed are. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 11. Pick a Coach By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 12. The old saying is that experience is the best teacher. However, if that experience comes at the expense of losing your trading capital, there is a better way. Hire a stock trading coach and follow his or her trading cues. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 13. Learn from the experience of others. You can practice simulation trading all day long to get the rhythm of trading. But, when you put your own money on the line in a trade it is a different matter. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 14. Learn from a pro and your trading experience will likely become profitable much sooner than if you simply go it alone. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 15. Devise a Strategy By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 16. There are lots of potentially profitable day trading strategies. You can engage in scalping, trend trading, or range trading. Many take a contrarian approach to day trading and wait for market reversals. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 17. All approaches can be profitable. This is part of our seven easy steps to stock trading profits because it is essential to devise a single strategy and follow it throughout the trading day. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits
  • 18. Day trading stocks is a business and a sound business operates according to a plan. Show up for work. Devise your plan. Follow your plan. By: http://profitabletradingtips.com/profitable-trading-tips/seven-easy- steps-to-stock-trading-profits