Trading Tipsmaking a living at trading is no easy task / profit taking is never easy / why you ask??? well some traders say it should not involve emotion.. I disagree.. we aren't machines we are human beings.If it was as easy as building a piece of software to beat the market it isn't long until another piece software comes out and beats yours. So on that basis I must bring so many other factors into being a succesful trader. Emotion and phsychology are in my opinion even greater factors.. I feel we often fight ourselves more than the markets....My best years in the markets have been during market crashes. emotion being balanced.. so I sum up my trading to 5 things..
1: balance fear and greed....
2: a good grasp of charts / numbers ( i am not a chart person) to me its a picture / a good one but not the entire basis of my trading..
3: phsycholgy .. this aspect of trading requires getting into the head of the market maker and seperating the price of a stock to how it's being manipulated... this may be :1 not :3.... until you understand how a MM is going to make money you have to understand what they will do to fool the lad depending on a chart.. charts alone will not cut it..
4: patience / not jumping into every play and not kicking ourselves for letting trades go / this comes with time and experience of being worked over..
5: DD .. only goes so far.. personally i rely less on DD and let the numbers do the talking.. I once owned a company that went public and I had no clue what the stock price was doing... that told me all I wanted to know about DD.. perhaps the most important aspect to this is knowing the flavor of the market.. TUD is a unique opportunity for solid DD as you can't argue with the resource reports... that type of DD is solid... so do I buy a whack more today? likely I should.. but first I must balance fear and greed and live in peace with myself no matter what the fallout is.
Best of luck to each of us...