Day Trading Tips – 5 Ways To Improve Your Trading

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Day Trading Tips
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I’m often asked how I remain so successful in all different types of market conditions. So, with this video series I hope to give some of the most useful day trading tips I can give both beginning and experience day traders. Some of these will already be obvious to veteran traders but they are still helpful reminders.

1. Treat this like it’s a business
Often we get new traders come into the business and they like to horse around and treat this like it’s just for fun. Already out of the gate they have a terrible mindset in place. Chances are that their results are also going to be “hobby- like results”.

Day Trading Tip #2

2. Prepare/Evaluate like a professional athlete would

Two people come to mind here for me. First off Tom Brady/Peyton Manning, who are probably one of the best prepared quarterbacks of all time. The other day ago I also saw an interesting interview with Russell Wilson of the Seahawks and he kept saying, “The separation is in the preparation.” This is what has set him apart from other quarterbacks in the league and he’s only a rookie. People often think this is funny when I say it but the bottom line remains is this is how I treated it and this was what my salary modeled.

3. Sign up with a school where you are mentored by a professional trader not a professional teacher

The problem with today’s trading schools is most of those guys are now professional teachers. They quit trading when their school income past the income of their trading.

4. Sign up with someone who doesn’t want your life savings

Again make sure the school you are joining isn’t interested in just taking your money. Ask questions and make sure you feel comfortable with them as a whole before you send them any money. Remember this will be your mentor for the next few months to a year. Make sure they are likeable, friendly, and have your best interests in mind.

5. Build that solid mental foundation

Again I’m going to relate this to football. A few nights ago when Alabama won the national championship, Nick Saban was asked what the secret to his success was. He said, “it’s all about the process.” This is exactly what a solid mental foundation is. The process part of the equation. It’s never about results, yet most people are so focused on the results. Take it from a 4 time national champion on the importance of the mindset.

These are 5 Day Trading Tips that you can start using in your trading today.