Successful intraday trading strategies are as important as good short term trading strategies.
CREDIT: ?Wall Street?s finest chronicle of the day-to-day highs & lows of the day, compiled by Michael Lewis.The primary objective of any Trading System is to be able to return the full value of the investment within the shortest period of time. By using a Quality Trading System you will be giving your self and your client maximum Quality of Life.
The aim is to make your investment as good as possible.
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This is why it is important to have a Quality Trading System on-hand so that you can go off and explore new territory.
The Quality of the Trading System should be such that you will not be tempted to gamble your money.
If you will gamble, you may just win; however, a Quality Trading System will divert your attention from winning trades and valuable lessons learned. The only person that loses in a gamble is the one that paid for the system.The most important Quality Control Point is Quality of Engineering. If you have ever wanted to know how to become a world class Traders then you owe it yourself to spend some time understanding the steps necessary to becoming a world class trader. Understanding the steps necessary to become a world class trader is really quite useful and may well be the difference between success and financial ruin.
One of the most important qualities I look for in new Traders is someone that has a great ability to understand the market. This new investor has an obvious interest in the financial markets and has a philosophy that has enabled them to become where they are today.The person that will create the world class trader that I see everyday is the person that takes initiative. In a dysfunctional society where everyone is expected to be in the center of attention, taking initiative is very important. Often people will take responsibility for their actions and for the things that they cannot change.
Often it is found in setting goals and setting daily goals. Setting daily goals can help to keep you motivated and focused. I often see people sitting in front of their computers, staring at the screen, trying to come up with a plan that will get them to the numbers that they need to get ahead and to the financial success that they desire. Setting daily goals can be as simple as entering a website search engine keyword (ex.
dailytrader.com/rules) or using some advanced mathematical calculation (ex. 18.104.22.168/picks).
The only requirement is an understanding of the market and a willingness to make logical decisions. Perhaps the most important quality that I look for in a trader is someone that is disciplined. Having a plan is a necessity in a dysfunctional society.
If you are looking for the most professional and the cleverest person that I’ve ever seen, look elsewhere. I’ve known traders that would repeatedly blow an opportunity because of their level of enthusiasm. They would cheerfully embrace any opportunity that will get them millionaires. This is because they have no concept of what success looks like.
Even the greatest traders have to go through periods where they feel they must prove themselves. They set goals, they prove themselves right, and then they embrace the inevitable.
It is not easy to be the definition of a professional trader.