Six Fundamentals To Six Figures

rajesheck said:
Six Fundamentals of Day Trading

1. Increase stoploss a bit whenever stoploss hits then immediately trend resumes.

2. Refine/scrap the strategy whenever stoploss hits and price doesn't return back.

3. Finding a strategy that works equally well on both intraday chart and extraday chart. Deriving levels by connecting both the charts.

4. Swing trading is vulnerable due to gap-ups and gap-downs between two trading days which makes it less safe than intraday. It is not advisable for traders to trade the safety of their investment with the convenience of swing trading.

5. Volatility is more in the middle of a well established trend making it vulnerable to frequently hit stoploss. Entering trade on early trend (market opening, trend reversal, sideways market breakout) avoids such volatility.

6. Entry and Exit strategies must be based on support/resistance. Entry/exit after second support/resistance avoids excessive volatility and helps in better decision making.

Pro Trading means Disciplined Trading which is sticking to the fundamentals. This is the only way to Six Figures.
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This post will lead you down the wrong path as it is simply a bunch of general thoughts and opinions.

You need a demonstrable edge that is worthwhile and risk management, plus the consideration of opportunity costs.

Worthwhile edge, I write? Yes... and getting one is what most of the fuss is about..

I am not trying to be cruel, but you goal should be to develop a relationship with an actual winning trader, and if you can, add value to their lives.

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I hope you are not a vendor of wisdom or a gurus-for-hire looking for customers.
 
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