By now, you've probably worked through Tradetrek's series of online trading tutorials. We've demystified some basic trading stratagems, and shown you how simple it is to use Tradetrek's professional investment tools.
Our final comment conveys a few words of advice about how to make the wisest use of Tradetrek tools, now that you have glimpsed what extraordinary access you now command to market instruments that not along ago were the special advantage of only the professional few.
How can you become a successful investor? Trade smart. Trade with PRIDE (Personalized Real-time Intelligent Dynamic Education). You'll find that your new trading skills and strategies, along with Tradetrek's Live Technical Stock-Search Engine will distinguish you from the rest, enabling you to intelligently increase your odds of become richer quicker.
You often hear traders say that it is easier to trade professionally with a company’s capital than to trade on their own time with their own money. This shows how traders actually tend to be more disciplined when dealing professionally with a company’s money than they are when dealing with the loss and gain of their own money in the market. To be a successful trader, you need that professional calm!
One successful investor who made millions defined stock trading as a challenging game of strategy and discipine. The stock market is vastly complex and dynamic, so that you need to exercise strict discipline, clear judgment, do your homework, and set firm goals and limits. Sometimes the most important work you can do is exercising patience, confidence, and discipline. You need to stay calm, keeping your mind clear and focused. You can't blindly bet that the stock price will go up or go down. You need to be well informed and make buy or sell decisions based on facts and logics. You need to understand what your risk is (Risk Assessment), what the probability of winning is, how much damage you can incur if events go badly south! Know your risk exposure first, then think about profit potential.
In investing, intuition also plays an important role. Good intuition derives from experience and good psychological habits. When you begin to win, you can't think of yourself as a winner yet because if you lose caution and become greedy, you can lose your gain in an instant. More importantly, if you should happen to lose, you can't let yourself conclude that a single loss makes you a loser: it won't, so long as you keep to your strategy, like a professional, and cut losses promptly. If you vainly cherish your hope that a stock will bounce back up after a setback, you may end up losing more than 50% of your money, when otherwise you could easily have closed off your position at 10% loss. Losing money can be very upsetting, but you need to be consistent and not quit the game easily. Learn to use a loss as a lesson, just as professional traders do, and determine why you lost. In this way, you maximize your chance of becoming a better investor. You should keep records of your trades, noting decision strategy and variables. Be systematic, just like a photography student who makes notes about each exposure to learn from mistakes. Talk with your friends and listen closely to trading tips, but in the end, you have to make your own judgments. Believe in yourself. If your next pick ends up being wrong, that may mean you haven't yet done sufficient homework on that stock.
Independent Research is the most important thing to do before any trade. By doing your own research, you complete a definite set of steps that will guide you toward a successful outcome. First of all, set your goals: Do you want to trade long-term (from one year to many years), mid-term (two months to a year), or short-term (every week, even every day)? Once you've set them, stay with your plan.
After you've set your goal, you'll need to concentrate on specific industry sectors. By diversifying in a couple of different sectors you avoid putting all your eggs into a single basket. Within each sector, choose stocks you want to invest in. Ask yourself questions such as, why do I want to buy in this stock? Is it because its rating of strength relative to that of the industry is very high? Does it have leading-edge products or technologies that I believe are going to fly? Or does the stock follow the technical patterns very well? In other words, does the stock chart conform to a reliable and understandable model? Positive responses to these questions can help you feel comfortable in placing a stock on your list of candidates.
Once you've narrowed the field, how do you identify a good price level at which to buy or sell? Not only do you need to recognize and follow market timing overall; you also have to catch the timing of the individual stock. This is where Technical Analysis comes into play. Tradetrek.com's Live Technical Stock-Search Engine will help you find profitable opportanities. By going continuously through 13,000 stocks in real-time, Tradetrek's Stock-Search Engine uses proprietary Patent-Pending pattern recognition technology to capture significant buy/sell signals. To help Tradetrek users who are unfamiliar with decoding these signals, we also provide Artificial Intelligence Live Stock Commentary to help you interpret implications of stock-trend signals and decide what trading actions they warrant.
Finally, how can you distinguish your market performance from that of the rest of the traders? Trade smart. Invest intelligently. Use Tradetrek tools for cutting-edge market intelligence. Instead of spending long hours scanning hundreds of stock charts for a candidate, let Tradetrek computers do the hard work. By letting Tradetrek help you make a more efficient, more powerful scrutiny of market information, by using Tradetrek's education tools to help you invest more intelligently, you are really on your way to becoming a successful, street-savvy investor!
