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Day Trading System – Get This Wrong and You’ll Be Jumping Off Buildings Without a Parachute

August 29, 2012

ETF

Day Trading System – Get This Wrong and You’ll Be Jumping Off Buildings Without a Parachute

Trading without a good day trading system is like jumping out of an aeroplane without a parachute. No matter what you’ve heard, you’ll never make it out alive. The only question is whether you’ll suffer a quick death (best) or suffer a long drawn out obliteration of your trading account (not so good because it tends to encourage future gambling tendencies).

Why do you need a good day trading system? Because only a good system will help you to navigate the following critical obstacles:

1) Trading the wrong commodity/currency. ETFs, forex, options and futures all have very different ways of behaving. Unless you are willing to spend years getting to know each one intimately you are best to get some training from an expert.

2) Trading the wrong time of day. Those that trade currencies know that many problems can arise in a market that never closes. There are however certain times of the day when massive profits can be made. If you don’t factor these into your plan, you could be missing major opportunities.

3) Trading without stops/loss prevention. The worst thing a new day trader can do is to enter a trade without having a clear exit plan. How much profit will you take before getting out? Even more important is to have an automatic stop – this will eliminate a small loss turning into a catastrophe.

The quickest path to success in day trading is to have a good day trading system in place. Don’t lose time and money searching for the best day trading system. This one is proven and reputable.

To get yourself a parachute go to Day Trading Stock Online and sign up for the free newsletter.

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