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6 Tips which can make one a better online stock trader

Posted By On 7/23/2008 09:17:00 PM Under
1. One must follow a strategy and same needs to be tested as each strategy will fit different individual as it is as per an individual risk profile. Without a strategy is like driving a vehicle without knowing the route.

2. Patient is the best virtue for a day trader. if you get anxious at seeing a slight loss then day trading is not for you. Even it is best virtue for long term investor as on may have to wait for months before getting th correct stock.

3. Have only one mentor in life on whom you can rely and if you can not find one then learn the stock trading for yourself and take your own decisions.

4. Learning is an ever growing process and thus take some time off to learn reading the stock charts.

5. Do not become egoistic in stock market else you will be marrying loss making stocks to fool yourself.

6. Enjoy stock trading and do take some time off for your family too. One can draw inspiration from Warren Buffett who do not spend hours studying the balance sheets.

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