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Trading secrets To Get our 5 Day Video Boot Camp Series visit
http://daytradervideo.com
This is part three of the how to trade video series. This video tells you the best trading
secrets for trading emini futures, which is having the right tools.
Five day video course click here:
We already covered things like, what is a day trader, and figuring out what exactly
you are best suited to trade. This video goes over what tools of the trade you need to have
in order to succeed as a day trader.
First off the bottom line is there is no trading secrets to success. All it takes is a little
hard work and having the proper tools. The tools:
Obviously the first which we covered in video one was: having something to trade. Make sure
this fits your personality. Some of us aren't built to trade certain things.
2. Charting Platform - A charting platform is the single most important thing that you
will require. Without it you will not have any charts available to you in real time.
The charting platform that I prefer to trade on is NinjaTrader. You can try it out for
free when you sim trade.
The best types of charting platforms are those that allow you to customize your charts and
add indicators to them. 3. Data Feed - This is basically your connection
to the market and graphically represents the transactions that happen in the market in
the form of price action. There are also many data feeds that you can use on a trial basis.
Search Google for trial futures data feed.
4. System - There are two ways of acquiring a system. One is coming up with your own through
the use of identifying patterns and then back testing the probability of those patterns.
The second method that you can use to get a system is by buying one. Understand that
there are advantages and disadvantages to buying a system. We will go over these in
a future video.
5. Stop management - In order to become a successful trader you will need to have some
sort of stop management in place. Any good system should already have this in place.
You should have it automatically pop up when you take a trade that way you don't have to bother chasing your stop.
6. Bankroll management - This is really going
to depend on what type of trader you are going to be. Are you going to become a professional or do you have
a day job that will give you a solid income while you continue to learn. Make sure to have enough money set aside when
you begin on your journey.
7. Review and Practice - I like to say that you should treat this
like you are a professional athlete. Understand that this is the only way that you are going
to make big money.
8. Mindset - This is the single most important thing to train in order to become successful.
Prior to meeting Jared Tendler I was an average poker player who made six figures a year,
and after working with him my salary increased to six figures per month. It's just that important.
If anything this is the only trading secret that most people will never even utilize.
You should definitely add this to your arsenal and begin working on it daily.
Stay tuned for the next part.