6/26/09 Day Trading
Market conditions Friday were slow and choppy as expected. We did make some calls for our more aggressive traders and took some scalps here and there.
Sitting out when there is too much risk is one of the most important skills to learn as a professional trader. The old saying that, “a penny saved is a penny earned” is 100% true in trading. If you find yourself making money with any system but giving it back or having losses compound then the issue is likely psychological. Your fears, biases, and subconcious beliefs all surface in your trading. In these cases it is important to remember that 99% of traders, nay everyone, have these issues. Many of these issues are discussed and corrected in our Day Trading Chatroom and others may require one-on-one consultation. As any of our long-term clients will tell you when you join, the investment in your trading business and yourself is more than worth it….especially if the result is a 2% increase in your trading account balance every day. :-)
Have a GREAT Weekend! Back to “work” on Monday.
Shoguntrading.com