|
Making Thousands In The New York Stock Exchange - Hidden Ground Breaking Rules - Auto Recovery
By David Jenyns
Once you have decided to begin trading in the New York Stock
Exchange, there is a bewildering variety of information and advice out there
that will guarantee to put you on the way to success. A lot of the New York
Stock Exchange advice is good, and some of it isnt. So where do you start this
difficult task? Here is a broad outline of what I consider some of the ground
rules you need to cover to begin trading successfully in the New York Stock
Exchange. As you progress in your trading using the New York Stock Exchange, it
makes sense to learn more about specific parts of trading, but everyone needs to
start somewhere.
Id start with defining your portfolio objectives. These
objectives will have a great impact on your style of trading in the New York
Stock Exchange. Ask yourself a few questions, such as these, to find your
objectives.
Do you want to trade part-time or full-time?
How much money do you have to work with?
What annual rate of return do you want?
Are you creating a trading system using the New York Stock
Exchange for cash flow or capital growth?
Once youve set your objectives, you should select a certain
stocks to trade with in the New York Stock Exchange. Its a good idea to avoid
the tendency to trade any and all stocks. Many traders fall into the trap of
thinking that the more stocks they trade on the New York Stock Exchange, the
more money they will make. Unfortunately, this is not true. You need to master
and learn about the characteristics of certain stocks that you will consistently
trade with in the New York Stock Exchange. Did you know that some of the most
successful stock traders only trade using certain stocks? This fact is the key
to making real money.
With your objectives and the certain stocks picks you have in
mind, the time has come to design your trading plan - your set defined rules
youll use while trading into the New York Stock Exchange. A well-thought-out
trading plan defines your approach to trading in the New York Stock Exchange.
Also, a properly constructed trading system for entering and exiting the New
York Stock Exchange, leaves no room for human judgment. It should be able to
respond to any set of circumstances that arise with clear actions.
The importance of this kind of trading plan - your set defined
rules for tradng in the New York Stock Exchange, cannot be overstated. Without a
consistent set of guiding principles to govern their trading decisions in the
New York Stock Exchange, most traders hop from one trade to the next, driven by
emotion or hysteria. When you dont have a plan, you plan to fail.
Try and keep your system simple. Many traders complicate their
trading systems with out even trying. They accomplished this by over-optimizing.
So many indicators are added to their system that it becomes nearly impossible
to trade. Instead, keep your system as simple as possible. This way, it is
robust enough to trade across many market conditions.
Once youve designed your system follow it perfectly. This
requires a great deal of self-disciple, but bear in mind that your will be
rewarded with success. Either undisciplined behaviour or ignorance will be
punished by the market in the end, coming by way of direct losses or by the loss
of profits, you could have made. However, the market is complex, and does not
always act as you might expect. There is a principle of random reinforcement
that you might encounter. The New York Stock Exchange has a tendency to reward
bad behaviour from time to time. This tendency is one of the reasons why it
often takes so long to learn how to trade. Keep these principles in mind so that
you will not be surprised, but remember there is no point in having a system if
you are not going to follow it.
When you are ready to trade, in the New York Stock Exchange,
start small. Give your confidence time to grow, and give yourself time learn the
intricacies of your system, and your stock picks. There is always a learning
curve when you begin trading in the New York Stock Exchange. It makes sense to
take the time to learn the ins and outs of the New York Stock Exchange before
you start adding more positions.
Now that youve started trading, in the New York Stock Exchange,
I have one last, crucial piece of advice for you. Follow this rule when youre
trading in the New York Stock Exchange. Despite the fact, everyone knows the old
adage of cut losses short and let profits run; many traders fail to do this.
Have strategies built into your system to ensure that these rules are followed.
Adages only become old when they have proven to be effective.
I could go into much more detail on many of these points, but
this is only a broad overview of the steps you need to take when you begin
trading in the New York Stock Exchange. With commitment, discipline, and careful
consideration, soon you will be well on your way to being a successful New York
Stock Exchange trader. About the Author -=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=- David Jenyns is recognized as the leading expert when it comes to designing profitable stock trading systems.
Discover the "secret formula" of trading that anyone can use to consistently generate BIG profits from the market by downloading your FREE copy of David's new Ultimate Stock Trading Systems course.
Click Here To Download ==> Stock Trading Systems http://www.ultimate-trading-systems.com/stocks.html -=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
Article Source: http://www.simplysearch4it.com/article/19191.html
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/19191.html" as shown above and make it hyperlinked. |
Some other articles by David Jenyns | |
| |