A “dangerous” fashion. This is how most day trading experts define this trend of investing in the stock market that seems to have become popular in recent years. The reason? People without previous financial training risk their own funds and those of their company by betting on a possible winner without having reliable , reliable data from reputable sources.
Thus, the first rule to succeed in intraday trading is very clear: do not consider it a trend that you have to join for the sake of it. Evaluate if your training, if your technical knowledge on the subject is sufficient to face the risk .
Rule 2 of intraday trading: the collaborators
The second golden rule of intraday trading is the team of collaborators who support or determine your decisions. If your financial training is basic, the best advice is to choose the best collaborator you can afford, a senior manager or a young promise with high management noho stock ; a professional with whom you sign an exclusive contract and who does not put your name or the corporate principles of a company that must be transparent and honest at risk.
Rule 3 of day trading: plan b, c and d
Even great day trading experts can make mistakes, but they keep going thanks to the third golden rule of day trading: have a plan b, cod to put in place when forecasts are not met . This rule or maxim of intraday trading is one of the most important today since we live in years in which the fluctuation of the markets is more present than ever.
Day Trading Rule 4: Overconfidence
The fourth golden rule of intraday trading has a lot to do with the third: overconfidence can make us make serious mistakes that affect not only our personal or business assets, but also the positive image we project about the corporate principles of a company. solid, responsible and far-sighted company.
Day Trading Rule 5: The Goals
In any business project, business model or business plan, the starting point is almost always the same: the objectives that we want to achieve with our investment of time, money and talent . If we are so clear about this concept, why don’t we apply it to our intraday trading activities? The reason is twofold. On the one hand, this type of task has a strong emotional, risky and adventurous component that few leaders and managers can resist. On the other hand, the time we have to make risk decisions is almost always scarce. The solution? Set clear and specific daily profit and loss goals and, very importantly, not go off the script or let ourselves be tempted by siren songs.
Do not get involved in intraday trading without having a solid theoretical and practical background , surround yourself with effective and efficient collaborators and advisors , have several response plans in the event of an eventuality , control the situation by containing our overconfidence and work with clear objectives in mind These are five of the golden rules of intraday trading , but there are many more. Do you want to contribute something? Just do it! You already know that in this blog we are always delighted to read your comments.
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