Things to think about BEFORE you start trading

• Trade small to start ( I traded 100 shares 10 times, 200 shares 10 times etc)
• Keep a detailed log of each trade, what you were thinking to get in where you want to get out and where you actually got out and what the ticker did after you exited the trade. Have a copy of the chart for the ticker if you can.
• Make your own watchlist everyday, now your watchlist might be you picking and choosing from other traders watchlists just have your own
• Only trade from that watchlist, if a set up comes up that you did not see during your preparation for the day, do NOT trade it, watch it and figure out why you didn't see it before and backtrack to make sure you will find it next time
• Learn from other traders, do NOT follow them blindly. There are plenty of Gurus out there that are GREAT traders, watch their trades, read what they say about them, study the trade
• Best advise I ever received..HIT SINGLES, home runs are great but the more you swing for the fences the more strike outs you have..4 singles gives you the same as 1 home run if you can get those four singles without any outs better than a home run
• When you exit a trade, if it is a profitable trade or a losing trade as long as you can trade tomorrow it is a win.... live to fight another day
• Have a PLAN.. when you get into a trade know where you are getting out, winning or losing, my personal rule is to have a profit taking order in right when my entry trade hits
• Learn LEVEL II ... this has to do with your entries and exits, by watching level II you can get in and out "at the right time" ... professional traders say about retail traders "they are right on most of their trades just at the wrong time", you will also learn that "yes, someone is looking over your shoulder as you trade and trading against you"
• Be afraid.. trade scared, you will trade better the longer you can trade.."when in doubt get out"
• Understand that there are 2 sides to each trade..a buy AND a sell ... someone is making money and someone is losing money

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