From the Mind of a Pro Trader – Convince yourself not to Buy it

Over the years I have found to be progressively refined, in my way of being an amateur to a professional trader. As time passes and I will trade between beginner, I found more differences that stand out. This is the normal progression that occurs in any trader in his business career. From amateur to professional, we all learn a lot of rules and lessons. In fact, as a merchant, never fail to perfect their technique and learn new lessons. I want to express one of the major differences and the rules I’ve learned. It’s probably the biggest difference I see when talking about a change that unless I have throughout the day, hundreds of letters to try to isolate the best / models and the optimal settings for a profitable business. When I look at a picture in my mind is racing across hundreds of models, prices and time settings to see if it corresponds to a possible exchange. Fans be to isolate a table and first thing they think of profit. This is the main difference with the experienced trader. When I see a potential job, my eye is the cat scan how long it might lose. I look at the model, moving averages, time of day with many possible problems. I look at my maximum profit loss before even thinking. Once isolated the loss of my max and risks of business, then step cost to see if the reward is part of the risk. This is very important to do what a professional trader is not about what to do at first, but they will not lose. Think of it as a parent. One eye of parents is a playground for exploration of the possible things could get their child wounded before leaving their children go to play. Often, an amateur trader is too caught up in the excitement of winning the money they forget to consider the risk of falls and focus only on the rise. It is disastrous. When I find a job that looks promising, I do my best to convince me not to buy it. I’m not going to give three reasons to buy this painting. If I can not have everything, you can take the position. This mentality is in front of an amateur. I know I used to be. By: Gareth Soloway, InTheMoneyStocks. comThe inthemoneystocks market leading technical guidance. com February 3, 2009

Tagged as: Best Models, Business Career, Cat Scan, Convince, Excitement, Find A Job, Find Job, From, Maximum Profit, Mind, Moving Averages, Optimal Settings, Painting, Parents, Playground, Professional Trader, Profit Loss, Profitable Business, Risk, Time Of Day, Time Passes, Time Settings, Trader, Winning Money, yourself