The Key to Trading
For many day traders there is no pinnacle secret to getting rich! It’s ludicrous to think that there is only one way that allows you to achieve the promised land of profits, boats and fast cars. Then again, perhaps that’s not entirely true. There may be one secret that will unlock untold riches, peace of mind and a life that you could only dream of, and perhaps it’s more simplistic that you could ever have imagined.
Stop taking everything so seriously. That’s basically it. Decrease your stress levels, let go of your petty worries, and learn to enjoy what you are doing. No matter what level of success you measure via business profits or your bank balance, it’s when you really learn what counts is when you achieve true success.
Now, it may sound crazy to take this Zen approach to investing and day trading. But it may be the best way to get head in this world. Whether you are using Etrade or Interactive Brokers, Tradestation or the smallest broker in the smallest town in the middle of the country, you want to train yourself to be happy with what you have. That stifling of the greed instinct will lead you to make better decisions and ultimately to a perfectly sustainable way of life.
Learn from Historical Masters
Studying up on old philosophers may seem like a silly way to get better at trading. But the lessons of men like Marcus Aurelius and Cicero can have decidedly modern use cases. Learning to passively take in events, not overreacting, not underreacting, but just picking your spots and calmly arranging your assets, is an underrated way to approach the markets. What is needed to be a successful trader is to create a rational mindset for approaching the market and an emotional intelligence to keep a level head.
Finding the Right Tools
You need to have a few things to be a competent investor. Remember, you need to become competent before you can become great. The fundamentals are essential. Finding any day trading site that is a fit for your style is a must. You need to read Warrior Trading reviews before signing up for the first education site that you see.
Avoiding the Big Losses
Becoming a master of risk management is the best way to make a sustainable living as a day trader. You need to get to a 2:1 profit:loss ratio, so that you can only be right 60% of the time and still make money as a trader. Keeping the losses small and manageable while finding big wins will get you to that ratio.
Warrior Trading could be the answer to your needs as a novice day trader. But you need to evaluate platforms like Interactive Brokers as well to find the best online broker to take your investing game to the next level. IB has a lot of history in the financial business and can be the answer for intermediate traders. But novice traders may be overwhelmed by the complicated interface and crazy amount of hot key possiblities. It may not be what beginner traders need.
