Stock trading is a complex process that may be quite confusing and deceitful to a new trader. Therefore, if you plan to start investing your money in shares, you should first choose a stock trading strategy that is most suitable for yourself.

The major difference between stock trading strategies is based on timeframe. It means that an active day investor will act and react differently than a long term trader. Any stock trading strategy has its own pros and cons so analyse them carefully before starting investing your savings in stock shares.

The day trader is an active player; he is always buying and selling shares inside the timeframe of a day. This kind of stock trading has to advantage of saving you the trouble of facing any overnight risk. If a share’s price is experiencing a sudden rise or drop, he can immediately take advantage of the situation. A day trader is usually targeting to get quick profits while facing small risks. The bad thing about this type of stock trading system is that it is very time consuming, you have to be permanently alert and focused on the stock trends. But the trading costs represent the worst thing. The commission tends to be very large when you sell and buy several times a day.

The swing trader is an investor who is focusing on longer periods of trading, meaning a few days or even weeks. This method has the advantage of having few commissions to be paid and the opportunity to experience some important changes in share’s price. The main downside of this method is its higher risk due to the longer trading period.

The long term swing trader is an investor much alike the swing trader above. The difference between these two is the longer period of time, several weeks, he is targeting. This method has a good aspect: the long term swing trader is avoiding the inconvenience of being affected by minor trading swings. And the profit is bigger; experienced traders target even a 50% profit using this method.

But bigger profit brings bigger risks; you will be trading over a longer period of time, therefore you will be exposed to bigger trading risks. And it is likely for you to miss many short-term trend changes.

The buy and hold trader is the investor who is buying stocks and hold them for a very long period of time, even for years.

This type of stock trading can bring you a very good profit with a small effort. But be careful when you choose to use this method as it may turn against you if you don’t have a good, strong investment strategy. This means that the secret to earn money out of this method is not just holding to the stock and hope for the best, but to analyse the stock trend, the market evolution and to set a profit target.

In conclusion, there are methods of stock trading for any type of person. You just have to analyse every type of method and use the one it represents you best. And remember that making profit on the stock market requires brains, instinct and luck!

For a Stock Trading system and investment strategy that is simple and easy to follow just visit http://www.mytradingsystem.net Portfolio management strategies that work in all types of stock market.

If you are a new player on the stock market, you should know that things aren’t always nice and shiny when it comes to stock trading. There are downsides and upsides as in any other trading or investing process and you have to be prepared to cope with the negative aspects. The drawdown is the worse thing a stock trader may experience along the years. You should know that a peak in a share’s price is always followed by a going down to the bottom period. But don’t panic, this negative impact is also followed by an ascending trend, so your shares will be going up again.

Experienced systems traders are well aware of this drawdown trend; the ‘rookies’ (new traders) are those who panic and start selling their shares. This drawdown period represents an important percentage of the stock’s profit evaluation process.

This drawdown curve is representing a test for the ‘buy, hold and hope’ rule that investors should follow on the long term. What does this mean? Well, inexperienced stock traders chose to sell their shares when their price is going down, instead of realising that this price drop is only a natural thing to happen. This kind of traders is losing money as the price is lower than the one they have paid for the shares. This is the reason why you should try not to panic and to commit yourself to holding to your shares. Keep in mind that this price drop is a normal phenomenon on the stock market.

Experienced traders have a strong commitment when it comes to a drawdown. They know that the best thing to do when a drawdown occurs is to follow all trade recommendations. Anyone who is involved in stock trading should be emotionally and financially prepared to deal with this kind of negative situations. Experienced traders know that the worst thing to do is to sell your shares just after a drawdown as the price will definitely go up.

Therefore, if you plan to get involved in the stock trading process, be prepared to face its downsides too. And keep in mind that any investing process is a matter of instinct, trading method, good information and luck.

For a Stock Trading system and investment strategy that is simple and easy to follow just visit http://www.mytradingsystem.net Portfolio management strategies that work in all types of stock market.

Although many will suggest that you can trade with the minimum margin requirement we do not necessarily recommend it.

Let’s say that you are about to start trading an S&P 500 futures daytrading system. Let’s say that the exchange minimum margin requirement is $25,000 and the system drawdown is $25,000.

Let us further assume that you want to get started using the absolute minimum account size. Since we are talking about a daytrading system, many of you may be able to trade for half of the required margin or $12,500.

The lure of starting with the smallest amount of capital possible is obvious. We feel that we are getting more bang for our buck. If the system makes $100,000 profit by the end of the year we feel great because we made 800% on our initial investment of $12,500.

If we initially funded our account with $50,000 we would have made 200% on our initial investment of $50,000. Although we made the same amount of net profit we may feel better about using the smaller amount because the return on investment is greater.

In reality trading these two examples can look quite a bit different. If we fund an account with $12,500 and immediately go into a $10,000 drawdown we will not be able to trade the system any more until sufficient funds are added.

In many cases funds are not added and the trader is left with a loss in his account and the words in his mouth, “This system doesn’t work”. If we initially fund our account with, say, $50,000 we can withstand a $10,000 or even a $25,000 drawdown and still have sufficient funds in the account to trade another day.

Properly funding an account is similar to using stops. We use stops because we do not know if our next trade will be a winner or loser. We properly fund an account because we don’t know if a trading system will enter a drawdown period 2 days, 2 months, or 2 years from now. In both cases it makes sense to control our risk.

In some respects a trading system is similar to an automobile. It needs sufficient fuel in order to continue to move forward. If you knew exactly how much gas you needed to put in your car to make a typical 200 mile highway trip would you put only that much in? What happens to you if there is 10 miles of backed-up construction traffic and you find yourself inching along and burning more fuel than expected?

Properly funding your account puts you on the road to successful trading.

Good Trading and Good Life,

Tony Spann

SP Strategies

Tony Spann is a systems researcher, developer, and consultant to traders, investors, and institutions worldwide. His company, SP Strategies specializes in trading systems that help traders replace fear, greed, and losses with confidence, discipline, and profitability.==> http://www.spstrategies.com
© 2005 SP Strategies – All Rights reserved

Is not a stretch to believe. Most traders like excitement, like life edgier than most. Like their share of thrills, have their appetites and needs to excel. This is one of the personality that would be attracted to trading. But this and this but is big, if you are using trading to satisfy these parts of your personality you are fighting a losing battle.

Successful traders actually tend to be attracted to the duller parts of trading. The mechanical system designers that easily do ‘this’ if ‘that’ happens. They are not thrilled with their winnings nor do they despair over their losses. Every trade, every situation calls for certain actions, either liquidation, stop placements, or just waiting, but it is all pre-ordained. Sure there are chart readers, like yours truly, but even then the charts dictate the action needed. While we do not use mathematical equations to impart are entries and exits, we do use charts. We do sit on positions when we would rather not, we do exit when we would rather not, but it is all pre-ordained as well. In short, our observations, our trained eye is our system.

Contrast that with the emotional trader, who goes from ecstasy to despair, in a single week, or day, or even hour. One minute he thinks he has figured out the trading game, with the holy grail of systems, and the next he realizes that all his friends were right and trading is a waste of time, a game you cannot win, not any different than casino gambling,. He was attracted by the appeal of easy money, and was sure he would be the one who would get it.

Well even the most successful traders will tell you, trading is NOT easy money. 50% annual returns may sound too good to be true, but it is not without its share of the full range of human experience. For even the most seasoned, mechanical traders will also tell you, that deep down, they experience the same emotions as the novice. The trick is and always has been not to allow your emotions to effect your trades.

So you can be wildly emotional on the inside. But you had better stick to your guns on the outside. Most weeks, most days, most hours, you are not going to be very happy about your open positions. Most trades will go against you at least one time during their open status. And probably more than once, the unpredictable is always going to happen. The illogical will always have its moment, and yes, you are going to be wrong.

The only smart thing to do about all of this is to learn from it. In fact, if you are not still learning new things from your trading, you have no reason to still be in it. The markets like humans, like the universe evolve. Evolution is the only thing you can bank on, and if you think you do not need to partake in it. Then you will be consumed by it.

To be successful at trading you do not need to always be one step ahead of the evolution of the markets. But you need to be in time with it, to accept its existence.

CT Larsen has been trading stocks since 1990. Now trading large cap stocks exclusively. He has recorded three straight years of greater than 50% annual returns. You can read his blog at http://livingonlargecaps.blogspot.com.

Most amateur investors will bail out of an investment program after three straight losses.

How you handle losing trades psychologically is a cornerstone to your ability to prosper in the makets. Losing properly (by losing small and continuing to make
your trades) makes winning possible.

You have to learn to accept your losses, because if you’re not willing to take the chance that a trade could lose a pre-defined amount (by using a stop), you will be afraid to trade or will be scared out of a good position as soon as you get a small profit.

This defeats the goal to score big when you are right. A successful trader’s mindset must accept losses as a necessary and beneficial part of the trading process when handled properly.

You must have the discipline to always cut your losses or keep them small. You must resist the temptation to say to yourself “It will come back”. That type of thinking has ruined many traders.

This is the main thing that will allow you to stay in the game long enough to become successful. If you have discipline and patience, the end result will pay off for you. After all, this is the greatest game in the world, and it’s the fastest way to wealth!

When I’m in the zone as a trader, I am totally focused and absorbed in the moment. Time seems to expand, my mind is clear, and I know what is coming next. My indicators speak clearly to me and I obey them automatically.

And being a part of this “now” moment is what makes me, as a trader, perform at the highest level. My ego is not dreaming of riches or fretting over bills to pay – it’s just along for the ride. My trading is not tied to my self-worth as a person.

You will reach your trading goals by increments – once you accomplish one goal, you celebrate that success and then set another higher goal.

Peak experiences seem to occur often in what many individuals call “the zone”. “The zone” is a state of transcendental well-being, an altered sense of time, or
being on a high, a state of focused energy, a euphoric state of optimal performance, exhilarating, uplifting, with a sense of mastery and control and invincibility.

Others describe the zone as radiant happiness, laser-sharp intuition, a total absorption in the present moment, with no self-consciousness or distractions. This state of mind has been called “intrinsically rewarding” because it epitomizes the love for the game itself, and not so much the outcome. All great traders have a basic love for the game itself because the emotional rewards are so great.

The zone is a rarely achieved psychological state, but once you have been there, you will want to return to the zone again.

One of the keys as a trader is that you must spend the time necessary to make trading skills “automatic” and create winning trading habits. Preparation and
practice make for proper skill development. By making these actions automatic, the mind can be totally absorbed within the zone.

What is the key to success? Dedication. The more you practice, the better you get. And you MUST believe in yourself and your ability to succeed. Keep your thoughts and behaviors positive, and you will increase your odds of a favorable outcome in your trading.

Trading is an art form that can be developed with time and plenty of practice.

Go slow, trade with caution, obey the indicators, and only trade when you’re not tired or feeling stress.

Cynthia Macy is the co-author of 3 forex training ebooks.

For more comprehensive trading information, visit her other websites at:

http://www.professionalforextradingonline.info
http://www.successtrading2000.com/forex
http://www.shortterminvestingsite.com

Forex traders know the importance of economic news releases and how that effects the exchange rate. A positive or negative news announcement in the US morning session can send the EUR/USD rate up or down extremely fast! One way to capture these large moves is to use ENTRY STOP ORDERS.

Entry stop orders are an excellent way to get into a trade long or short AUTOMATICALLY. Often if the market is moving extremely fast (due to an economic news release or geopolitical event) and you want to get into a trade, it
is extremely difficult to get the price you click (live market order) because the exchange rate is moving up or down so fast. It is like trying to jump on a train that is moving at full speed.

An entry stop buy or sell order places an order with the dealing desk of your Forex clearing house to execute your order when the exchange rate touches the level you set the order at. The CMS VT platform guarantees that these types of orders will be filled.

The following link outlines the economic news releases for the week. I find it very helpful because it rates every release in terms of importance on a grading scale of A-D. A denotes very important down to D with little significance to the markets. It even lists what the market expects to happen with the briefing.com forecast.

Click Here for the Yahoo Finance Economic Calendar:

http://biz.yahoo.com/c/e.html

1. Check the economic Calendar

2. Set your entry stop buy or sell at a key level 15-30 minutes before the announcement is released. Set your stop and limit on your order by right clicking the order when it appears on your VT platform.

3. You can also “straddle” the price movement by placing a long and short entry stop or sell order (and subsequent stops) if you aren’t sure which direction the news release will send the price.

The above report was taken from the Euro Fractal Trading system, written by Erol Bortucene of the Day Trade Forex Team.

This unique approach to day trading the EUR/USD involves using financial Fractals and no other technical indicators, as outlined in the Euro Fractal Trading System. The Euro Fractal Trading System also teaches how to use key price levels to take entry and exit positions, thus taking the guesswork out of trading.

Cynthia Macy has been trading various markets for over 12 years but now concentrates on the forex market and is the co-author of 3 forex training ebooks.

For more comprehensive trading information, visit her other websites at:

http://www.professionalforextradingonline.info

http://www.successtrading2000.com/forex

http://www.shortterminvestingsite.com

If you put on a trade and your heart starts pounding, you are *not* ready to trade yet…Some people who aren’t ready to trade have other problems as well:

1. Pulling the trigger to get in

2. Staying with one trading strategy long enough to judge it

3. Letting good trades go bad

Day trading psychology plays a role in these issues, and books have been written to help traders deal with these problems, but most of them do not offer a practical solution.

In order to be successful at day trading support and resistance, you must have confidence in your trading strategy. Most traders with less than 2 or 3 years of experience, and for those who are just starting to learn day trading…well, they have nothing to be confident about.

If your trading strategy isn’t making you money consistently, in “real time”, you can’t have confidence in it. But, how can you tell if your method is any good when you don’t yet have the nerve and discipline to trade it?

Day trading psychology involves building confidence, and consistent, profitable results will lead to confidence. Being a 23 year veteran trader, my day trading advice for you would be to trade your strategy in simulation mode so that you can judge it rationally.

The inexperienced trader (and even some traders with years of experience) has a difficult time thinking rationally when they are afraid of losing money, so take that fear out of the equation by utilizing simulation trading as a tool.

Some “professional” traders will tell you that simulation trading is useless or even, “the worst thing you can do.” But it depends on why and how you utilize simulated trading. If you choose a simulation strategy that has a defined number of setups, a fairly specific strategy for limiting losses, and you stick to that strategy like glue, never deviating from it – then simulated trading is a logical way of testing your method in real time and it will help you greatly.

Day trading psychology also involves self control. Cultivating good habits such as self control, and developing confidence while using a simulation method will help you when you’re ready to trade for profit.
Having confidence in a method you have traded in simulation mode is the most rational starting point for a new trader, or any struggling trader.

So begin the successful part of your trading career with a strategy that you personally have learned to trust through real-time trading (preferably simulated trading).

Not all trading strategies are alike, and this is important to understand.

1. Any strategy that loses more than 60 % of the time (such as a trend-following system) will take enormous courage to trade, no matter what you do. These strategies demand a certain type of person (rich, with ice water in their veins).

2. Thousands of strategies force you to place a fixed stop and wait to see if it gets hit. These are difficult to trade with confidence – even IF you can find one that wins more than 65 – 70% of the time and makes money in the process. That’s a big IF. You can spend a career and thousands of dollars searching for success with this kind of strategy, most unfortunately end in failure.

3. My method for support and resistance trading is rarely talked about, but aside from making money for me on a consistent basis for more than 20 years, it just happens to have a rational approach to day trading psychology built in.
Here’s what I’m talking about…The fear of trading is associated with the lack of control.

With most strategies you can control only a few aspects:

1. You can learn to control your entries through discipline and strict setups.

2.You can limit the size of each loss somewhat by using fixed hard stops.

3. You can control your overall chances of success by finding a strategy that works for you in simulated mode BEFORE you trade it with money.

4. You can control the days and times of day you trade.

5. You can control the number of contracts you trade, placing more money at risk on your highest-probability setups, and less on your lower-probability setups.

BUT…

Most traders day trading don’t know how to control the overall size of their losses. Learning how to do this is the most rational way of dealing with fear, greed, and other problems of day trading psychology, and it’s the main key to my own success as a trader.

Remember this simple rule that will build your trading confidence like nothing else:

** Exit any trade that doesn’t go your way immediately. **

Forget about the commission, forget about how many hours you waited for the setup, forget everything except this rule. I know it’s radical, but just do it.
Then YOU will be in control of the one factor that most traders don’t believe can be controlled – the downside outcome of the current trade you’re in.

The first rule is used in combination with the second rule…

** Every trade starts out as a scalp until proven otherwise. **

This means that if you get 2 or 3 ticks gain and the market pauses and moves a tick in the wrong direction, you get out immediately with 1 or 2 ticks gain…. No questions asked.

This simple rule gives you control over your gain/loss ratio, another thing that most traders believe is beyond control.

I trade around support and resistance levels because they are built in to every liquid market. They arise primarily from the day trading psychology of people who are trapped in a bad trade and want to get out at break-even as soon as possible. This feeling does not change from year to year or from one generation to the next, so day trading support and resistance can never become a strategy of the past.

Mike Reed is author of TradeStalker’s RBI Trader’s Updates. He has been trading the Market for 23 years. His support and resistance numbers have been published on the internet since 1996. Mike’s nightly support and resistance zones are specific and incredibly accurate. He offers an unlimited free trial of his nightly TradeStalker RBI Trader’s Updates. http://www.tradestalker.com

Copyright 2005 TradeStalker.com and Mike Reed

What if currency traders when making money were also helping the wealth of a nation? What if currency traders were taxed on each trade and that money was used to kick start third world nations and emerging markets? What if we used this money to build water reservoirs and water filtration plants or what if we used it to build sewer treatment plants and hydroelectric power plants?

What if we used the money to slow down or defeat AIDS, Malaria, Yellow Fever or stop disease? What if we used the money to help promote children’s health and education? What if along with this money we taught people to farm, grow food and sell what they did not need to regional trading partners or neighboring countries?

What if we could help finance small businesses through micro loans, which would help grow local economies? What if every time currency was traded out of a smaller nation there was just a 2.5-5% tax and when currency traded out of a powerful nation there was a 1% fee on top of the current banking fees?

What if when currency traders made millions before breakfast, that children in Africa could eat breakfast? What if everyone won, when investors and traders in currency won or lost? What kind of good deeds could we do with that unit of trade if it were strategically placed to do the most good? Think on this.

Lance Winslow

Over the past few months I have had a significant increase of people contacting me inquiring my mentoring services that I offer for trading. Many who have contacted me have very little trading experience. One of the first questions I ask each person is why they want to become a trader. The answer is most always the same with the response, “I hear you can make a lot of money trading”. This case is true, but most fail to look at the risk involved with the business of trading.

There is substantial risk, especially for people thinking they can become a successful trader in a short period of time. To become a trader takes time, no different than any other profession. In order for one to succeed, it is necessary to get education to save money and time. Whether you are a carpenter, electrician, plumber, lawyer, or a doctor. Any profession you obtain requires hard work and dedication. It was necessary to familiarize your field, and you had to work on developing skills in order in becoming a master at what you researched.

I often wonder why so many people think trading is so easy compared to other professions and careers. Have we been habituated into thinking we don’t need to work hard? If you are ever up late in the evening or up very early in the morning watching TV, and surf through the channels, you will see we are in the age of info commercials on television. Selling is an easy fix for everything from easy weight loss, easy work out routines with exercise equipment, building fortunes in real estate with no money down and many other get rich quick schemes.

Even promoting how to trade stocks and the futures markets for a living. All of these advertisings have one main factor in common. They all make everything we want look so easy to acquire. Learning appears effortless. The advertisers all know how to push the hot buttons and make the sale. The majority will find out after they receive these so called “great products”. These people will learn that the false features that looked so good on TV, are not reality. One must set goals for themselves, and work hard in order to achieve them. The truth is that there are no short cuts in life, and things that we want must be worked for. Money is never made easily.

A process that I use for people who associate with me about my mentoring services is a simple questioning of ones life accomplishments and failures. This method can save them a great deal of time and money. The goal of the exercise to make one think about themselves so they can become a confident trader.

· Are you a person that has a list of personal successes in your current profession?
· Have you been a person who has always strived to be your best at what you do in everything you attempt in your profession?
· Do others in your profession and business community look up to you?
· Do you work at completing a job without looking at a clock? If working on projects and things are not working as expected, are you flexible enough to try another angle to get the job done?
· In general do you have a positive outlook on life?
· Do you have a passion and a burning desire to succeed?
· Can you come up with three other reasons outside of making money for a reason you want to become a trader?
· Do you have any other income to live on right now?
· Are you really able to risk the money you are thinking to trade with and more importantly can you afford to lose it?
· Would it change your life style if you lost all the money?
· Do you have the support of your spouse if married?
The final and two most important questions are, do you believe in yourself? and do you believe you can be successful as a trader if given the proper education?

If you consider these questions, and if you are honest with yourself, you will have a good idea about your choice of pursuing the challenging career of being a professional trader. For most people being honest with oneself can save a lot of money. Trading is one of the hardest professions to master! Therefore, you must master yourself before you can master the markets. Refer back to the September 2003 issue for a look at the article titled “Are you the 1 out of 10 Trading in the zone”

Steve Rifkin S.E.R. Enterprises, Inc. One Northfield Plaza, Suite 300 Northfield, IL. 60093 Visit The Power of the Force at http://www.NaturesForceTrading.com

steverifkin@naturesforcetrading.com 847-441-3205

Do you know what you are really looking to achieve when trading? Did you set some goals to work toward? Do you know why you want to achieve the goal set? Do you know what is needed so you have a chance at achieving you goals? If you do not have goals and a plan on how to achieve what you want then you are like a sailboat without a rudder in the ocean, you will just drift away in the direction the winds and currents will take you. You have no control! Setting goals is an important step in achieving the things you want in life. Sure you can achieve things without setting goals and creating a plan many have, however by setting goals and having a plan to work, you become more focused and more self-conscious at details to help accelerate your progress.

We can break down goals into all different categories such as personal health and fitness, spiritual, family and relationships, career, education, investments and financial to name a few. Within each category we choose to create goals you should create sub-categories. So for the financial goals one of the sub categories would be trading goals. Now as a general statement, all that decide they want to become a trader want to make money. That is a statement made to oneself, but not necessary a goal as I never met anybody who decided to become a trader to lose money. So what are goals and how is the proper way to create them in order to achieve them?

All wants in life come from dreams, desires and needs. From these dreams, desires and needs goals are created. The process starts with creating a list of dreams without allowing your mind to put limits on those dreams. Do not allow your current situation or current condition to limit your thoughts of your dreams. Create your dream list, as there are no obstacles. After you have created a dream list, the next process to do is review your dream list and review each item and see if it is a realistic dream, desire or need within your current conditions in your life. If a dream was to live in a two million dollar home on the ocean off the Florida coast and your current job was earning you $25000.00 per year and you had very little savings, that dream would not be a realistic dream under current conditions in your life.

Now if you willing to make a drastic change to a profession which would give you higher earnings or you find a way to make your savings work better for you by becoming an astute investor or a trader you will have a more realistic chance at achieving your dreams and goals. The key is making sure the dreams and goals are realistic and believable to you. Some goals you create will be easy to obtain while other more significant goals need to be a challenge, you need to push yourself outside your own comfort zone.

So you decided you want to become a day trader to earn the extra money, which would be needed to buy your dream home. One of your goals is now to own a home on the ocean. When creating goals you need to write them out on paper or better yet on your computer for easier updating capability. When writing out your goal you need to be as descriptive as possible. Do not just write I want a house in Florida on the ocean. Be creative with your dreams and goals, let your imagination run wild. What style home do you dream of? A ranch style or a two-story home? 4000 square feet or 10000 square feet? What are the colors? How many bedrooms and bathrooms does it have? Can you visualize the lay out? Does it have a pool in the backyard? If so is it kidney shaped or a rectangle shape? If so write it out. The more details the better.

There will be times when you create one goal and you will find you need to set another goal which will be needed to obtain the bigger goal you created. Think of goal setting like a recipe needed to create a fancy meal, or to bake a cake. If you leave something out of the recipe you are gambling on the outcome of that recipe.

If you plan is becoming a profitable day trader, what are the obstacles that might be in the way? What is needed to help you achieve you goal to becoming a day trader?

Examples of some obstacles would be:

1. Having sufficient money to fund your trading account.
2. Having the proper education to becoming a profitable trader.
3. Is your spouse or partner supporting your idea of becoming a day trader?
4. Does your current job or profession time schedule cause a problem to working

toward obtaining your goal?
5. Is there a local or Internet group for support?
6. Finding the right broker for my needs.

The above are a few example’s of some hurdle’s you have to jump to get you on your way to achieving you goal as a day trader. To overcome the obstacles you might have you will need to work on possible solutions. If one of your obstacles is your need to find more liquid cash to help fund your trading account. You would need to carefully think and brainstorm ways of doing so, maybe you had an old collection of coins or other collectables you could sell to raise the needed capital. If there is a will there is a way!

Each person will have his or her own obstacles to get by. Always make sure it is money you could afford to lose and that it will not alter your current life style.

Do not put unrealistic deadlines on your goals and dreams. Some of your goals might be ongoing with no deadline, other simple type goals will have deadlines. Looking at the above obstacles you can see that some of the above could be met within days or a week at most. The proper education could take months or more. Even with that, you would have a continued goal to keep improving as a trader for years to come. The goal of having a home on the ocean might take some years to achieve, which can be predicated, on the goal of becoming a successful day trader.

By breaking down what is needed to become a successful day trader comes the need to itemize smaller goals. Creating daily tasks that work on helping you in achieving your goals is key. Create a daily plan of attack and work you plan each day. Stay focused and look back over each day to make sure you made progress. Always create smaller goals, which can be met on a day-by-day basis that will give you the energy and encouragement to work on achieving the larger goal. Some other key components you will need to work on are the psychological components. If you need to improve on having more patience, create a goal in descriptive written detail of you showing great patience while trading. If you need to improve on being more decisive do the same exercise as with patience. The key is becoming more aware what truly is needed to obtain your goal.

It’s not as simple as just saying I want to become a successful trader. You first find the recipe and gather all the ingredients and work them in together. The key to achieving your goals is you taking your time and being careful to do all that is necessary to get to the end result. Working on all the small details everyday and concentrating and giving key focus to the daily task and seeing daily progress.

A quick review for setting goals

1. Create a dream list
2. Review the list to see if the dreams are realistic, practical and believable.
3. Write out a descriptive detail of you dreams into a positive statement as it is already achieved.
4. Create a list of all obstacles you will need to over come to achieve your goals.
5. Create a sub-list of goals that can be worked on that can be achieved within a week’s time.
6. Create a daily plan of attack and work you plan.
7. Create a daily task list to work on each day.
8. Review each day, week and month to review your progress.
9. Always adjust your goals higher once you achieve the set goal.
10. Always have continuous goals that are never ending.
11. If you run into a stall, a problem or a set back always look for a different angle to try.
12. Never give up! If there is a will There is always a way

Steve Rifkin S.E.R. Enterprises, Inc. One Northfield Plaza, Suite 300 Northfield, IL. 60093 Visit The Power of the Force at http://www.NaturesForceTrading.com

steverifkin@naturesforcetrading.com 847-441-3205