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How to Make Sure You Become a Profitable Trader


Regardless of your trading style; day trading, swing trading, or position trading there is a simple step by step plan you can use to improve your odds for success.

1. Start by paper trading until you can be consistently profitable on paper.

2. Regardless of how much money you have, start trading with a small amount of money and work up over time.

3. If you are a day trader, avoid the very small time-frames like 1 or 2 minute as you get a lot of signals which can lead to overtrading.

4. Make sure that all your entry criteria are met for the trade setup. Don't jump the gun until everything is in place.

5. If there are no clear signals in the market, then do nothing. Forcing trades alsmost always ends up with losses.

6. Always place your protective stop immediately after entering the trade!

7. In your studies you will be exposed to many techniques. You will improve your results by concentrating on only one or two strategies. Get real good and consistently profitable with them first.

8. Don't watch too many markets or stocks at one time. This leads to too much confusion and indecision about which trade to take.

9. Win, lose or draw don't deviate from your strategies or change things.

This article is courtesy of Dr. Jeffrey Wilde, a trading veteran with 15 years of experience in all major markets. He is a trading coach to over 1400 traders in 38 countries.

For additional info: http://www.win-at-trading.com


MORE RESOURCES:

Washington Post

Mortgage Rates on 30-Year US Loans Fall to 4.95%
BusinessWeek
March 11 (Bloomberg) -- Mortgage rates in the US declined for a second consecutive week as the number of home-loan applications rose. ...
Mortgage rates remain below 5 percentThe Associated Press
Bank of America Refinance Mortgage Rates – Home Loans Attractive Now?Subprime Blogger (blog)
Demand for purchase loans upInman.com
Florida Times-Union (blog) -Credit Loan (blog) -The Press Association
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The Guardian

UK home loans fall by half in January
The Associated Press
The value of remortgage loans dropped by 12 percent from December. "When December and January data are taken together, they show little change in underlying ...
Mortgage approvals fall by halfThe Guardian
Mortgage lending falls 49% as buyers leave marketTimes Online
Mortgage lending slumps by halfThe Press Association
MyIntroducer.com -Mortgage Strategy -Introducer Today
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9&10 News

Fathead staff is to join Quicken Loans in Detroit
Detroit Free Press
Quicken Loans founder and chair Dan Gilbert announced Thursday that one of his related companies, Fathead, also will move downtown this ...
Fathead sport graphics to move to downtown DetroitThe Detroit News
Headquarters move gives Detroit a FatheadBusinessWeek
Fathead sports company to move from Livonia to DetroitThe Detroit News

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Discovery Sees 1Q Loss Amid Loan-Loss Reserve Costs >DFS
Wall Street Journal
Discover Financial Services (DFS) said it expects to report a fiscal first-quarter loss, as the credit-card company said it plans to increase loan-loss ...
Discover Financial expects to report 1st-qtr lossThe Associated Press

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WNCT

FHA challenged on projected risk to taxpayers
Washington Post
The Federal Housing Administration will need taxpayer money because it failed to properly project how borrowers with FHA-backed loans are ...
Gov't official warns on home down payment hikesThe Associated Press
Low cost FHA-backed housing loans likely to continueWalletPop (blog)
FHA Says Higher Down Payments Risks Double-Dip Price DeclineWall Street Journal (blog)
MortgageNewsDaily.com -MSN Money
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CNN

Democrats gamble on mixing Student loans and healthcare
Washington Times (blog)
What does student loans have to do with health care? Nothing--other than the legislation was passed in the House before Republican Senator of Massachusetts ...
Deal Gives New Life to Overhaul of Student LoansNew York Times
Loan bill could give President Obama twin winPolitico
Health Care & Student LoansWHIO Radio (blog)
CNN Political Ticker (blog) -Huffington Post (blog) -Rolling Stone
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Common Dreams (press release)

Loan bill may not pass due to healthcare
UW Badger Herald
These reforms were linked to healthcare budget reconciliation bills as a reaction to strong lobbying by the for-profit student loan lenders. ...
Big Changes are in Store for Student Loans at Simpson UniversityThe Slate
Why is Student Loan Reform Holding Up Health Care?Atlantic Online (blog)
New Loan Program for StudentsUniversity of Central Florida (blog)
Facing South (blog) -Firedoglake (blog) -True/Slant
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MSN Money UK

Jan-Feb loans hit 28% of yearly target
China Daily
The new yuan-denominated loans extended by China's banks in the first two months of 2010 hit 2.09 trillion yuan ($306.17 ...
CBRC: China Big 4 Banks Supply Half '09 New LoansJLM Pacific Epoch
China Regulator: Big 5 State Banks' 2009 New Yuan Loans CNY4.6 TlnWall Street Journal
China's top 5 banks' bad loans down in 2009: CBRCPeople's Daily Online
SteelOrbis (registration) -Shanghai Daily -Straits Times
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Inc.com

Local SBA loans increase 300 percent
News-Leader.com
Lenders in the US Small Business Administration Springfield branch office's 28-county territory submitted and received SBA guarantees on 56 loans for $21 ...
Why Won't the SBA Lend Directly to Small Businesses?New York Times (blog)
Small Business Loans And Tax Breaks—Are These The Key To Reversing Unemployment?Red, White, and Blue Press (blog)
SBA spreads the wealth wide and far in I-40 rockslide loansWaynesville Smoky Mountain News
Trading Markets (press release)
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The Money Times

Reality Check for Bank Investors, Mortgage Investors and Home Buyers
Huffington Post (blog)
Lax regulation of Fannie Mae and Freddie Mac led to the mortgage companies taking on too many risky loans, Wallison said. “It turns out it was impossible to ...
Fannie, Freddie go after bad loansNorthJersey.com
Fannie Mae Sells Largest Benchmark Issue in 11 MonthsBusinessWeek
Morgan Keegan to Offer Farmer Mac Programs to Commercial Banking ClientsPR Newswire (press release)
Reuters
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