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Day Traders: Look for these Warning Signs

Posted By On 4/01/2009 09:49:00 PM Under

Below are enumerated a few warning signs which every stock market day trader should be on the look out as it suggests that probably one is in a wrong trade and one must exit out of it at the earliest:
1. If you are in praying mode, than exit out of the trade as none except the correct trend can help you.
2. If you are working based on news than avoid doing so as all news are generally history.
3. If you are speculating; than you are heading for the disaster.
4. Same applies for the margin trading and trading in higher lots without sufficient financial backing as all leads to one way and it is towards the financial disaster.
5. If you love to lose money and brag about it, than it is high time you stop trading.
6. Remember if the day trade is not moving in any direction, than exit from the trade.
7. Avoid taking big losses as staying in the game is more important to make money from the stock market.
8. Remember that you should be able to make atleast small profit every day as one will soon find that the trading account is increasing with every passing day.
9. Learn to book profit though marginal as it will bring the winning tendencies in you.
10. Be consistent in life as it will boost your ego and confidence and thus will help you to make more pragmatic decisions.

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