Friday, October 26, 2007

Day trading stocks preparation,training resources

please visit
http://www.geocities.com/daytradingtutor/7-day-trading-steps.htm

http://www.geocities.com/daytradingtutor/money-management.htm

try paper trading with a simulator
http://www.geocities.com/daytradingtutor/currency-day-trading-form.htm
Learn basics first
http://www.geocities.com/daytradingtutor/daytrading-basics.htm
mOST IMPORTANT
hAVE A CLEAR TRESTED STRATEGY
http://www.geocities.com/daytradingtutor/day-trading-strategy.htm

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General
precaution zone

Trading needs,most importantly, [B]solid preparation[/B],at least the night before.
[B]It is not a 20 minute preparation, much much more.[/B]

A study and plan,visualizing where the leading stocks would move most likely, and a [B]counter perspective,preparatory approach to plan rescue in case it moves exactly opposite way.[/B]

[B]Proper identification of trend is must[/B].

[B]Confidence[/B] is top priority, based on [B]previous testing of strategies that are going to be deployed.[/B]

Weightage? my guess?
preparation=30% trend=25%, confidence=45%

[B]Anything else can help?[/B] [B]Apart from having enough capital,[/B]Tradestation 2000i, with its radar screen,preplanned alerts
Anything else?
[B]POSITION SIZING AND RISK CONTROL[/B]
[B]keep position sizing OPTIMAL,reasonable[/B],(SAY 5% OF TRADING CAPITAL)
[B]Try for good reward/risk ratio [/B]say 1.25, or 1.5 or much more,possible.
Try always for [B]Low risk entries,[/B]PREFERABLY [B]enter close to support zones so that in case of things getting worst,risk is minimal as you escape near support level[/B]

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