Wednesday, September 13, 2006

Things to do while Trading

Haste Makes Waste





You have a specialized, tested system. Wait for your conditions to be satisfied. Patience is an invaluable virtue for a trader.

Futures how big players take positions before amateurs. They consider their bets as only that. It is a chance. More often than not the efficient or the big player has the advantage of leverage, information, infrastructure and so on. He may also be trading in the proprietary account or at very low commissions (brokerage) making him very difficult to beat.
Follow trends, that should be your best chance. It requires patience to wait for trend changes. You will also have to time the point of entry very well since your margin for error is minimal, especially for a day trader.

Listening to the Markets





The market has a lot to say, just pay attention and you will find loads of useful information. For example, do the principle “Do not add to your positions unless the markets prove it. This is shockingly true in the Futures markets. The players in the futures markets are generally those with high risk appetite. Most of the time they are well equipped, skilled and well informed. It is not a surprise that they are correct most of the time.

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