Day Trading Tips and Tricks

July 6, 2019

Erich Senft

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What is the Advantage of being a Day Trader

“The criterion of truth is that it works even if nobody is prepared to acknowledge It.” –  © 1962 Ludwig Von Mises (1881 – 1973)

slowgrinduphillWhat makes day traders different is that they are able to participate without bias, without question, and reap the benefits of what the market is giving on that day.

Is this an easy state to attain?  Some will say absolutely, while others just can’t seem to turn the corner and be in the ‘zone’.  The important thing to remember is it is a learned process.  There aren’t many traders I know that don’t have preconceived ideas of what is bullish and what is bearish – what constitutes a break out and what constitutes a break down.  However, many habits have benefited me as a day trader over the years.  One is identity… once I committed to the profession, I told myself I’m a professional retail trader, still retail but professional nonetheless. Then came the process of learning how information is transmitted, of knowing who is doing what in the market or the necessitycomfortzone of not knowing or caring who is doing it.  These habits have freed me beyond what I can write on this post.  Day trading is not always easy, but it allows traders to enter the market each day fresh and without an opinion as to the markets bullishness or bearishness.

This allows a day trader the ability to access and accept the current market mood.  Market awareness is a critical to choosing which trading strategy to employ and is a subject I have spent some time writing about.  Having an awareness of your personal emotional and physical state of being is also critical in realizing what may hinder your ability to step in and trade.

Come see the advantages of being a day trader in our Trade Room.  Click HERE to Register.

July 6, 2019

Erich Senft

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