DISCOVER the Road to Financial FREEDOM!

Day trading can be a successful  ventures if you follow the Top Trader Trading habits. It only need some discipline to follow it through.

Watch and memorized videos below!

Who know you may earned your first Million is Financial Trading!

There are a lot of success stories where day trader turn their initial investment into more than $1 million, scanning using their laptop for price movements in stocks, futures and foreign currencies that could lead to quick profits.

Happy Trading! 🙂

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Top Day Trading Habits pt 1 of 4

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Randy reviews the good and bad habits of Day Traders in this four part series. How do you trade? Watch to make sure your habits are making you money.

Traders Best Practices

1. Don’t ever think of the market as being either too expensive or too cheap but instead whether people are willing to pay more in the future (long) or less (short).

2. The bottom line is that making consistent profits is more important than being right. Ask yourself “why am I trading?” and the answer should be obvious.

3. Stop trying to be a hero by picking tops and bottoms. In the long run it does not work. This is a losers game and not a good way to focus your efforts. Stay with the overall trend and wait for the right setup.

4. You must exercise patience with your winners and extremely impatience with your losers. Don’t get excited and take your profits too early but have a trading plan and follow it.

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Top Day Trading Habits pt 2 of 4

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Randy continues his lesson the Top Day Trading Habits mostly for the Forex and Futures Market.

Top Trader Habits

5. You must know and have studied where your profit objective is going to be as well as your stop loss BEFORE you get into a trade. The stop loss should not be arbitrary, based on a certain number of pips or dollars but based upon true support and resistance areas based on the chart pattern.

6. It is important to start simple and don’t try to use too many indicators on your chart. Too many indicators will give you paralysis by analysis and you will over think the trades. Try a few different indicators and see which ones work for best you and then stick with one or two.

7. Find a market that fits with your personality, style and mindset. Each market is different in terms of volatility, liquidity, price movement, etc.

8. Always remember that trading does not always feel comfortable even if you have been trading for a long time. It is OK to feel a bit uneasy at times when entering trades and not knowing exactly what is going to happen next.

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Top Day Trading Habit pt 3 of 4

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Part 3 of 4 in the Top Day Trading Habits. How are you trading?

9. Don’t make money as the number one goal but instead how you follow your trading plan. The money will follow if you have a good trading plan and you follow it. Of course, money is the target but you need to set goals that are not strictly money. For example, you may look at the number of winning trades with proper risk to reward ratios.

10. Never add to a losing trade. Based on my experience and other traders I have talked to this is usually a losing game. More times than not you will end up with big losses. Yes, it may work once in awhile but ask yourself “what does my results show over time” from a statistical perspective.

11. Remember the market is limitless and there will always be another opportunity. Don’t worry when you miss a good trade since there will be another one right around the corner in the future. The market will always be open tomorrow. There is no “once in a lifetime” trade and good trades are presented to us every week.

12. Good traders are willing to change direction at a moment’s notice to either long or short depending on what the market is telling them. Don’t look at it as an investment for the long term but play with the momentum.

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Top Day Trading Habits pt 4 of 4

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13. When you start to trade poorly you need to reduce your risk and when trading well you can trade more aggressively by increasing the number of lots or contracts.

14. Keep a trading journal on everything you do, hear, say and think. You need to write down not only the trade information but how you felt when you took the trade, what mood you were in, what was the market doing, was there any news events, etc.

15. Start to practice focusing away from the left side of the chart where events have already happened but more on the right side of the chart before it happens. Start to visualize what you see may happen in the future.

16. Top traders continue to educate themselves not only on the technical aspects of the market but on the psychology of the market. Read books about crowd behavior. The books don’t necessarily have to be written for traders.

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