Monday, 11 February 2008

Day Traders, are you making money?

If you are not, you should be back on the drawing board and reviewing your strategies - the choppiness in the market should always suit the day traders style of trading. Scalping the markets could be very rewarding in the present market conditions if you are day trading and sitting in front of your monitors for many hours of the day - pick your market and use your charts effectively and with a leveraged account such as CFD, Spread betting or Futures, you should be making good money.

Stick to making some 10 points here and there and by the end of the day, you should be showing 50 points profit at least - if you are not making any money in these market conditions then stop trading altogether and go back to learn more as you are definitely doing something wrong!

Have faith in your ability and press that buy/sell button and don't allow your profits turn into a loss by being greedy - be ruthless to the market as the market will be ruthless to you if you let your concentration abandon you.

Above all, only trade using an instrument which you are comfortable trading with.

12 comments:

Anonymous said...

Hi Andy here from contracts-for-difference.com - could you please contact me at traderATcontracts-for-difference.com as I am trying to contact you.

Rod said...

Hi Andy,

Sent you an email.

Angel said...

hehe...Your site is really informative. I have picked up several new techniques from your site. Will be looking forward for your next post. :P

I also have a little Personal Blog here ;)

Rod said...

Hi Angel,

I am glad you found my site of some benefit - I hope to add to it in the future.

Your site is pretty cool too - keep it up and never give up :-)

If you want, I can add your site to my links, but please let me know the title you prefer but not too long so it can fit on the side :-)

Good luck with your trading and if you ever become rich don't forget to take me out for a dinner :-)(-:

Regards,

Rod

Ronald said...

Hi,

It is quite interesting topic, but do you really believe people make money day trading? I found out it is quite difficult to make profit in a day with CFD.

Your site is very informative.

Rod said...

Hi Ronald,

Yes, it is very much possible to make money on a daily basis but one has to choose the right instruments for it.

For instance with indices it is easier than individual stocks because there are more movements.

Being a successful day-trader requires lots of practice and one must put a lot of hours into it.

I resent it when some traders calling the quick profit they may make from this game as "easy money". There is no such a thing as easy money from this job - I am sure as a trader you would agree with me on this issue.

Also, thanks for your positive comments about this site and I hope I can add more helpful stuff to it in the future. If you have any idea how the site can be improved, I will be glad to hear it.

Good luck with your tading.

Regards,

Rod

Monitor de LCD said...

Hello. This post is likeable, and your blog is very interesting, congratulations :-). I will add in my blogroll =). If possible gives a last there on my blog, it is about the Monitor de LCD, I hope you enjoy. The address is http://monitor-de-lcd.blogspot.com. A hug.

Rod said...

Thank you for your kind words and good luck with your blog.

Kind Regards,

Rod

Mr. Phibo said...

Hi Rod,

I have read your posting, it is informative. I'm new with cfd trading. I haven't been having much luck. But I can relate to your posting. I've created a blog too. mycfdtrading.blogspot.com

I have bookmarked you site
Phibo

Rod said...

Hi Phibo,

I am glad you found my site useful - be very careful with CFDs - try not to trade large stakes at first - give it a good one year at least before you increase the size of you trades.

Good luck.

Regards,

Rod

PS- is the URL you supplied for your site correct?

Mr. Phibo said...

Hi Rod,
Thanks for advice. As I have made many mistakes. I've taken a large loss...currently holding off trading. probably paper trading only. And thanks, my url should be mycfdadventure.blogspot.com
Please give me a comment about my site.

Cheers

Rod said...

Hi Phibo,

If you leave me your email address I will try to have a look at your site later on and give you some feedback.

Regards,

Rod

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