How to be a successful day trader ?
We read many news about how enormous amount of money the day trader can earn, and there are few tips to become successful at day trading. Of course the day trader’s ability and knowledge is very important, however with the best ability and knowledge still can’t guarantee anything, so here are few tips that can help you improve your venture:
1: Go “Top Down” for best results.
2: Use market internals to gauge the markets real strength and direction
3: Know your sectors
4: Relative Strength is the Key
5: The Pattern is the Last Thing
6: Stay Away from the “Cheapies”
7: Always Include Volume in Every Analysis
8: “How Much Can I Lose?”
9: Use Hard Physical Stops
10: Keep a Journal of Trades
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