We have probably all wondered how the big profitable day traders get their ideas. Let me tell you what I have come to learn in the half a year in the trading world. Its pure and simple PLANNING. People jump in to trades on the gossip, chatter and chatroom comments on stocks they didn't even know existed. Lets not lie to ourselves we have all did it. I admit I did if for the first 2 months and it was just a pitfall with no way out. Time and dedication in the start will determine who will lose and who will come out as a winner and become profitable in this business. Nothing else stands in the way to profitability and success in this line of work than OURSELVES. It seems so retarded when you say it out loud or write it down but its the gods honest truth. I have been on a upward curve the last 3 months. 

 

As some of you know I play "pro" football in Sweden, my only daily obligation is to train- and be in shape. Eat right which is kinda easy when you have all the resources and all the free time has given me a once in a lifetime opportunity to learn this much. Every day I spend most of the day reading books, watching video lessons- scanning through twitter and the social networks for possible knowledge to be acquired. As said before by a million of GURU's and teachers or whatever you call them "STUDY STUDY STUDY" . When you look at it from  one point of view they are right- BUT its not only study. People have to decide if they want to live the stock market and trading. Its a lifestyle that you take in and get used to, you make everyday rituals like scanning for stocks checking what happened to OIL - GOLD - THE S&P 500 ? How did the stocks play out that you had on your watch ? What happened to the GURUS watchlist? Was he right or wrong and what did he do right or wrong ? People come into daytrading and think Ahhh im just going to buy a stock and wait for it to go up or down and make money. It can't be that hard. Well my good friends anything that has the potential to make this much money like the stock market can do and is easy is just a dream !!! If it was easy everyone would do it and 90% of the traders wouldn't lose money in the stock market. 

Its us that stand between failure and success. Making a daily ritual is very important. Like every pro has done in the start of his career and I think that is one of the main reasons they are where they are. Scan and make your own plays - don't even get me started on following alerts and chasing the big guys trades. Trade your plan, not the company not the PR, not anything else. Trade your plan and stick to it. If you are spot on take your profits and go brag about it or something if you are not, than don't keep averaging down or up and hoping the play bounces. Set your Max loss and your OH SHIT trigger in your head. It can be 50 , 100 , 200 or 2000 its no shame trading in your own limitations. There are people who started with puny accounts and managed to grow them to huge size. If you have capital than comes even greater responsibility. So if the trade goes against you F*** IT !!! Get out and start planning your next trade and analyzing what the hell you did wrong. Was it your entry or your plan all along. With time the executions will become faster and better and your navigating around the platform will improve drastically but it still doesn't mean you will make money. At that moment you see how hard it is and how good the profitable traders actually are and the strength of their character. 

 

So with all that said we should all try to create our own way and own NICHE not only with strategies but with the whole daytrading life style. Write it down or remember it, its your choice just start creating it. The sooner people start doing it the sooner they will advance in ways they didn't even imagine they would. I felt it on my own skin- I am still on my way to become a fully profitable trader but I knew I will succeed the day I told my SELF - THAT'S IT IM BECOMING A TRADER. THE END. No excuses no this and that's I just made a choice and started planning on how to execute :) JUST LIKE A TRADE

 

PS. The math trade trick I wrote in the title is this . Every trade with out prior analyzing and studying and carefully planning is almost like a coin flip 50/50 right ? OK maybe a bit less for the winning side because of commission and price fills. But very close. With that being said take a lets say 5% stop loss on every trade (HARD STOP)  and a lets say 12% win (LIMIT SELL AT 12% gains) and leave the computer alone. In the long run you will make money. SO imagine when we can take the percentages and turn them to our advantage. Meaning letting winners run more and advancing our win/ loss percentage. Imagine how easy it is in theory to be a profitable trader. But then come EMOTIONS and GREED the to main factors why people lose money. FEAR also but that is a story for itself. Work toward becoming that algorithm LOL and you will be successful.

 

SEE YA GUYS AND GOOD LUCK OUT THERE. :)