Daytrader: Teaching Investors How To Daytrade And Develop A Technical Trading System

"Day Trading and Swing Trading Truisms"

Plan your trades. Trade your plan.
Keep records of your trading results.
Keep a positive attitude, no matter how much you lose.
Don't take the market home and sell enough so that you can sleep.
Continually set higher trading goals.
Successful stock traders buy into bad news and sell into good news.
Successful stock traders are not afraid to buy high and sell low.
Successful stock traders have a well-scheduled planned time for studying the markets.
Successful stock traders isolate themselves from the opinions of others.
Limit your losses - use stops!
Place the stop at the time you make your trade and adjust them accordingly to price action.
The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the equation for success.
You must have a program, you must know your program, and you must follow your program.
Expect and accept losses gracefully. Swing traders who brood over losses always miss the next opportunity, which more than likely will be profitable.
Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don't let ego and greed inhibit clear thinking and hard work.
If a market doesn't do what you think it should do, get out.
Beware of large positions that can control your emotions. Don't be overly aggressive with the market. Treat it gently by allowing your equity to grow steadily rather than in bursts.
Never add to a losing position unless you are absolutely sure from a solid technical analysis that underpin this decision.
Beware of trying to pick tops or bottoms.
You must believe in yourself and your judgement if you expect to make a living at day trading or swing trading.
A loss never bothers me after I take it. I forget it overnight. But being wrong and not taking the loss - that is what does the damage to the pocket book and to the soul.
Of all speculative blunders, there are few greater than selling what shows a profit and keeping what shows a loss.
Standing aside is a position.
It is better to be more interested in the market's reaction to new information than in the piece of news itself.

And to take it one step further, if markets don't react to bullish news, then it is not a bullish market.

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We have to use actual market quotations to illustrate exactly what we are doing and why we are doing it. Otherwise, the diaries and its entries of daytrader1.com will be misleading and not educational. The spirit of this website is to teach the market daytrader how to trade successfully by using real-time quotes and any attempt to duplicate these trades is not a guarantee to make money. These trades are our teaching "tools" and at the end, are only examples. Copying these trades are in fact beyond our control and we are not responsible for any trading losses borne out from this type of action.

We do not give investment advice on this website but only attempt to show you some of what we trade and how we trade it. Treat this website as reading a professional trader's trading journals or "diaries". Past performance is not indicative of future profits nor are our opinions guaranteed to be successful. We do not make markets in the stocks that we illustrate and we may buy and sell any stock at any prices regardless of our commentaries. And due to unforeseen web or network related technical problems, we can be down for an indefinite amount of time without any prior notice.

Our workshop course offered here is solely intended for educational purposes only and in no way should it be interpreted as a "sure" way to make money. It will be to show what trading methods we actually use to set target prices for most of our trades. Please be aware that trading is risky and not a guaranteed way to make money.

We reserve the right to cancel any subscription and/or withhold our email service towards people reselling our information, copying parts of our site and claiming that our original work is theirs, or just any other kinds of abusive action taken against this website. There will be no refunds for this type of behaviour.

The use of our username and password will be deemed as an acceptance and understanding of the purpose of this website as outlined in the above disclaimers. Again, this website is not a guarantee to make money but a teaching diary of how we setup and exit trades. By entering our subscriber page with the use of our username and password, the subscriber will then waive all rights to sue daytrader1.com and any other companies associated or related on this website. Daytrader1.com will not be held liable for any loss of money from trading as we do not give any advice or recommendations as to what to trade but only try to teach and illustrate how we trade our own funds in real-time trading. Again, we do advise against copying our daily trade examples as it is not a guarantee to make money.

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