*****How are you prepared technically? I'm not speaking of TA I'm speaking of knowing your platform, your computer, your charting software. Each of those will influence your plans, setup and execution of trades. It encompasses hardware as well as software. Can your equipment handle the memory required, the broadband and the number of monitors needed to be able to trade well? Make no joke about it, if you cannot find or execute the information fast, you are gambling with your profits.
Your desktop is your office; your communication center, your marketing tool and your store. Not unlike any other business, just much more compact, and your profits depend on how well you are able to handle it all. Your computer and communication ability is the extension of your brain, the more familiar you are with all the technical aspects, the easier you will be able to handle your business. So don't underestimate the importance of having good equipment maintained in good condition and then a backup equally available in an instant in case one fails, as machines often do.
"Bums Rush" Know how your platform operates so you don't get the bums rush entering/exiting your trades. You don't have the time nor can you afford to fumble about for the buttons you need for trading.
"Too Much Trouble" When it comes to trade entries does your platform allow you to keep it simple? If you have to take too many steps to set up and enter a trade, it's too much trouble.
"As Long As the Price is Right" The commission you pay makes a big difference in your ability to trade. Does your broker like your money better than you? Negotiate.
"Cheque Book" Be sure you're account is well funded for the type of trading you like to do. Important if you want to stay out of trouble. Margin calls can kill trading ability and profits.
"You Shouldn't Call the Doctor" Don't trade if you can't afford to pay. Always know the risks you are taking.
"Sugar Shaker" "Can't see no chicken sittin' on a pigeon's egg" love that line in the song. Strive to go for the best performer/trader that you can. Analyze which stock you're holding in a sector.
"Roxette" You took the time to study and make a list, so keep it up. Make sure you know what your watchlist is doing everyday, it will give you the best opportunities for profit.
"I'm a Hog for You Baby" You won't lose out if you take profits but you'll get slaughtered if you don't. Many traders dream about taking profits but don't actually do it even when knowing the danger. The fear of missing out is stronger than the fear of loss.
"Shotgun" Keep your targets on alert and take profits when you hit them. This is so very important it's what keeps you in profits and not get slaughtered as above.
"Nothing Like It" Make enjoying life as one of your goals. Take time away from your equipment, platform and the pursuit of profits; you may find that there is "Nothing Like It".
Today's British pub-rock featured band, Dr. Feelgood, hailed from the early 1970s. They became popular with their distinctive British R&B sound. Their high energy style is no longer performed with the original band members but they continue to have worldwide popularity at live events.
Happy Trading, Living and Dancing Be Alive, Be Happy, Be Free Anni ©DayTrading with Anni 2012 All Rights Reserved
Friday, August 3, 2012
Saturday, July 28, 2012
The Daily Note - Trader's $STUDY Friday IV
*****Sometimes no matter how or what we do, it's perplexing that we cannot execute a trade the way we have planned. When it happens, first examine your planning then examine your attitude. If you have prepared well for your trades and still it is difficult for you do trade well, it's a good idea to observe your thought patterns next.
A notebook then becomes essential, even if it is in the form of post-it notes. As you observe each thought, jot it down. Important also to jot down time of day, and market conditions at the time of your thought. Soon enough you'll observe a pattern. Remember that your thought pattern is unique to you, although many may identify with what your are feeling/thinking, still they cannot identify with your solar plexus (your gut)and that is why each trader is unique and cannot truly follow anyone else. Honor your uniqueness and you will become the best trader you can be.
"Feeling Good" Whenever you sit down to trade, resolve yourself to feeling good. No one can change your mood except you. Surround yourself with what makes you feel good, let go of things that don't.
"Come Fly with Me" When a trade is flying your way, be sure to keep head below clouds and feet on the ground. Make sure your alerts and stops are set and keep your targets in mind.
"Always On My Mind" Appreciate the trade you are in, not the one someone else is bragging about. There are always temptations around you for another trade, but focus on the one you have. The best chance for success is in the trade you're in, not the trade you're not.
"Fever" When a Stock is hot, it may be too hot to handle. Know what you can trade, know what you can do and you will never go astray by temptation.
"Lost" When you are lost in a trade and can't read the writing on the wall, ask for help. You are not alone! Take time to find those who will help you learn and boost you when you are down.(Moi!:)
"Quando, Quando, Quando" If you have to question "when?" You need to study the chart some more for your answer. The question of "when" is usually answered by the pattern of the chart. It's a lot like reading the stars, which were and can still be used for navigation.
"All of Me" It may be tempting, but don't put all your funds in one trade. This may be old news to many, but some still may need reminders and new traders may not realize how fast this can happen.
"Marie" Crying out the stock's name is useless & likely in desperation; otherwise it would be "yes, Yes, YES!!" Come on, do I have to expand my explanation on this one? LOL
"Save the Last Dance for Me" Forget it, a trade will never save the last dance for anyone. Learn to know when to dance & when to let go. You're deluding yourself if you think a stock will wait for you. Be ready for the last "dance" whenever it may come.
"Home" Keep reminding yourself why you are trading & go home with profits. This may be obvious, yet so many times we need to reminders to remember. Stick up a post-it!
Today's featured artist is Michael Bublé, a Canadian born Jazz singer who prayed nightly to become a singer in his teen years. But he did more than that. According you his first manager, "Bublé would do every gig imaginable, including talent shows, conventions, cruise ships, malls, hotel lounges, bars, clubs, corporate gigs, musical revues, singing telegrams, and even the occasional singing Santa Claus gig". So, remember it takes more than prayers to become the best you can be: you have to apply yourself to what to want.
Happy Trading, Living and Dancing and Be Free, Be Alive, Be Happy Anni ©DayTrading with Anni 2012 All Rights Reserved
A notebook then becomes essential, even if it is in the form of post-it notes. As you observe each thought, jot it down. Important also to jot down time of day, and market conditions at the time of your thought. Soon enough you'll observe a pattern. Remember that your thought pattern is unique to you, although many may identify with what your are feeling/thinking, still they cannot identify with your solar plexus (your gut)and that is why each trader is unique and cannot truly follow anyone else. Honor your uniqueness and you will become the best trader you can be.
"Feeling Good" Whenever you sit down to trade, resolve yourself to feeling good. No one can change your mood except you. Surround yourself with what makes you feel good, let go of things that don't.
"Come Fly with Me" When a trade is flying your way, be sure to keep head below clouds and feet on the ground. Make sure your alerts and stops are set and keep your targets in mind.
"Always On My Mind" Appreciate the trade you are in, not the one someone else is bragging about. There are always temptations around you for another trade, but focus on the one you have. The best chance for success is in the trade you're in, not the trade you're not.
"Fever" When a Stock is hot, it may be too hot to handle. Know what you can trade, know what you can do and you will never go astray by temptation.
"Lost" When you are lost in a trade and can't read the writing on the wall, ask for help. You are not alone! Take time to find those who will help you learn and boost you when you are down.(Moi!:)
"Quando, Quando, Quando" If you have to question "when?" You need to study the chart some more for your answer. The question of "when" is usually answered by the pattern of the chart. It's a lot like reading the stars, which were and can still be used for navigation.
"All of Me" It may be tempting, but don't put all your funds in one trade. This may be old news to many, but some still may need reminders and new traders may not realize how fast this can happen.
"Marie" Crying out the stock's name is useless & likely in desperation; otherwise it would be "yes, Yes, YES!!" Come on, do I have to expand my explanation on this one? LOL
"Save the Last Dance for Me" Forget it, a trade will never save the last dance for anyone. Learn to know when to dance & when to let go. You're deluding yourself if you think a stock will wait for you. Be ready for the last "dance" whenever it may come.
"Home" Keep reminding yourself why you are trading & go home with profits. This may be obvious, yet so many times we need to reminders to remember. Stick up a post-it!
Today's featured artist is Michael Bublé, a Canadian born Jazz singer who prayed nightly to become a singer in his teen years. But he did more than that. According you his first manager, "Bublé would do every gig imaginable, including talent shows, conventions, cruise ships, malls, hotel lounges, bars, clubs, corporate gigs, musical revues, singing telegrams, and even the occasional singing Santa Claus gig". So, remember it takes more than prayers to become the best you can be: you have to apply yourself to what to want.
Happy Trading, Living and Dancing and Be Free, Be Alive, Be Happy Anni ©DayTrading with Anni 2012 All Rights Reserved
Friday, July 27, 2012
The Daily Note - Trader's $Study Friday III
Action during earnings season always emphasizes our trading flaws and allows us to inspect what elements we may be missing in order to execute better trades. Our observations also get challenged and opportunity to sharpen our chart reading skills presents itself.
Start by observing the the chart and follow the trades throughout the day prior to and after market announcement. Then, observe how the stock reacts to earnings announcement. The next day see how both previous and earnings charts compare and observe the buying/selling interest volume. All these give you clues what the following days will do.
The digestion of earnings always has an initial reaction, a follow-up reaction and a continuation. Once you learn to observe these on the charts, it will help you find the direction for your next trade.
Happy Trading, Living and Dancing
Anni
The Daily Pick - TBA
©DayTrading with Anni 2011 All Rights Reserved
Start by observing the the chart and follow the trades throughout the day prior to and after market announcement. Then, observe how the stock reacts to earnings announcement. The next day see how both previous and earnings charts compare and observe the buying/selling interest volume. All these give you clues what the following days will do.
The digestion of earnings always has an initial reaction, a follow-up reaction and a continuation. Once you learn to observe these on the charts, it will help you find the direction for your next trade.
Happy Trading, Living and Dancing
Anni
The Daily Pick - TBA
©DayTrading with Anni 2011 All Rights Reserved
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