Make Money Trading

Many people are under the impression that all you have to do is pick some good stocks & you'll make money trading, you’re on your way to your first million while trading. The truth is a lot more complex than that; after all, if it was that easy, then everyone would be playing the markets, which of course they’re not.

To make money trading commodities, you need to ditch your emotions & play a simple defined strategy, either your own or someone else’s & stick to it no matter what happens. This is the downfall of most traders, they have a great strategy, they start making loads of cash & then they start taking risks, in other words they deviate from their strategy. Many traders who trade using swing trading techniques fro example, will make money because buying & selling are usually a few days apart & they have plenty of time to make the correct choice, however day traders will usually have only a few minutes to make up their minds so its very important to have a strategy you can stick to.

Rule no 1.Your strategy must be written in stone, so if your strategy is to dump the stock after a 5% drop, then you’d better be sure to dump the stock. It’s also a good idea from the start to ask yourself if you want to take trading seriously or just to trade when you feel like it. Many traders who take up trading full time will eventually migrate over to day trading.