Technical Analysis Course - How Losers Think Part I

It is estimated that 97% of new day traders will fail. That means if you're only starting out, the possibilities not on your behalf. Even still, the money potential is so great that men and women are able to bet against those odds. So why one thing a lot of day traders fail? I have 3 words for you. Lack of knowledge. Too many newbies jump in head first without taking some time to understand the ins and outs through the day trading business.




Keith Fitschen's commodity futures day-trading methods are used within the most liquid commodities in each group: for that grains, wheat and soybeans can be traded; to the softs, coffee may be traded; for that currencies, the yen and euro-currency can be traded; for that metals, copper, gold, and silver can be traded; for the energies, crude oil, heating oil, and reformulated gas may be traded; to the financials, 10-year notes might be traded;, and for that stock indices, the S&P 500, the Russell 2000, along with the German DAX might be traded.




When searching around for the trading PC, you should look for a reputable company that customizes desktops, not laptops. The reason why you shouldn't use a laptop is they aren't designed for the power and speed that you'll require, and they are generally a little annoying. You'd need a hand mouse, versus the mouse pad that laptops feature and you may have to be able to view multiple monitors simultaneously. Then to get a laptop that is super powerful, you will have to give an arm as well as legs.




The use of supercomputers in executing trades in a very high speed is named high frequency trading. In the past, traders used to trade hundreds and sometimes a huge number of trades every second. With the recent continuing development of computing powers, traders use highly powerful computers dedicated towards this to produce millions or more trades each second!




To be a successful trader, you should overcome the human being tendency to make reactionary trading decisions. Automated exit strategies are a great tool for TradeStation traders who have not yet conquered the emotional conditions that show up while trading. Using automated exit strategies will free your mind to pick great trade entries while your exits are logically managed following good exit management rules.

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