6 Tips to Being a Better Stock Trader (and More Successful)

1. 6 Tips to Being a Better Stock Trader (and More Successful) Presentation by Biglivetrade.com

2. 1. have an open mind Have an open mind when you’re trading there isn’t just one way to make money in the stock market many people think that you just buy low and then sell high and yes this is a typical mentality but that’s the speculative version of trading so understand that there’s more than that.

3. 2. stay away from the news and media Always remember that the news and the media is really all about hype it’s there to give you information to show you what’s kind of moving what’s going on it the market maybe the economy but remember that some people’s agenda out there is really to persuade you to buy into what they’re saying.

4. 3. master the art of trading first, then go bigger Learn to trade first and managed your risk manage your money first before increasing your share size so many beginners try and just go out there and trade 20 stares or 50 shares or 200 shares. Don’t do this things first learn how to trade and then go bigger and increase your share.

5. 4. Your success is up to you Tip number four is that you have to create your own personal risk and rewards strategies you have to create your own buy sell signal software trading system no one can do it for you.

6. 5. people have different views Tip number five is remembered that people have different perspective some people have a detailed vision view other people have a wider vision view and by this mean some people are honed in only on the intraday charts some people are honed in only at the long term 100 year plan think of warren buffett he’s a long term investor same thing goes in real life some people just live moment to moment and don’t plan for their retirement other people plan and work for the retirement you have to know what you are.

7. 6. study longer charts and learn vega Tip number six is a little bit more on the technical note so if you're looking for a speculative direction place if you’re looking to trade some short of direction on a stock and you’re looking at charts and you're looking at technicals don’t just look at the intraday and see how many times it bounces off of that buy intraday i mean the 30-minute time frame or the hourly or the 15-minute look on the daily or maybe look on the weekly because within those 30 minutes time frames support and resistance is almost non-existent

8. there is some but a lot of it is machine oriented or computer triggered so if you look at the daily or more even though weekly you have much better chance to looking at the trend and that’s where the big bucks are if you’re looking at option spreads if you're looking at calendar spreads if you’re looking at iron condors and butterflies and things like that then make sure you look at your vega so many people do not understand the vega which is the volatility risk so learn those and understand those key things whether you’re doing the option spreads or you're doing a long-term speculative trade.

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