Some Help for Starters

I can only recommend getting as much good Information as you can if you decide to be a trader. I am still at the beginning but i can already say that Anne Marie of Annemarietrades.com was a big help for my start as a trader. I am still trying to find out if the Fibonacci trading style fits me personally,but I think it gives you a set of rules that help you in your decision-making process, so that you don’t freeze up in the face of all the information the market gives you.

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Also i like trading Breakouts,which is demonstrated in perfection by John Lee every day.This style of trading is very fast and can lead to extremely frustrating days,when you are not yet fast enough as i had to find out.But if you found your rhythm and don’t just jump in on every breakout available,but only to the ones that are confirmed and you control your risk while doing so,it can lead to really nice gains. I combined both trading styles sometimes,to find targets for the Stocks that broke out.

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Something that I also find very useful is the control of risk by pre-defining the amount of Money you are willing to risk in every trade. Doing that is possible by choosing your position size according to the distance of your entry to the next support or resistance level (depending on if your long or short).

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And now to something that I had to learn the hard way: all of this doesn’t help you,if you start trading without a proper plan for the day. If you just start trading without having a game plan for your day and an exact knowledge of how you want to react in any given situation, you will get tunnel vision and  LOSE A LOT OF MONEY. So don’t do it, please.

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About Schwarzdaytrades

I am a full time day trader. I like to share my opinion about stocks and the psychology of trading.
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