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The Top 7 Secrets of the "Super-Traders"

By Dr. Jeffrey Wilde

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Many traders/investors that I have talked with think that to be a “Super-Trader” that they must possess some type of highly advanced trading techniques or software along with nerves of steel and a highly developed intuitive feel for the markets. In addition they think that these elite group, have some “inside information” that they don’t. You will be relieved to know that the above is not necessary. There are actually only a few things that separate traders who consistently make money and those who don’t.

Here is a list of 7 tips that can definitely give you an edge in the markets.

  1. Skilled traders find a strategy or market pattern that offers a high probability for success. They make money by exploiting this edge over and over again.

  2. Skilled traders never deviate from their methodology or “wing it”.

  3. Skilled traders never enter a trade without a entry and exit strategy. They know exactly when and where to cut their losses as well as taking profits.

  4. Skilled traders never ever let a winning trade turn into a losing one. The easiest way to ensure that this doesn’t happen is to place a protective stop at or a few ticks in the money once your position is up several points.

  5. Skilled traders never hope, pray or wish that their stock would go up. They understand that when they are wrong they are wrong and the best thing to do is cut their losses short.

  6. Skilled traders never trade with their emotions. They don’t allow themselves to get caught up in the latest and greatest investment
    hype.

  7. Skilled traders never trade with their emotions. They don’t allow themselves to get caught up in the latest and greatest investment
    hype.

Dr. Jeffrey Wilde has been a trader in the stocks, bonds, futures and options markets for over 14 years. He is also a trading coach to over 1500 traders in 38 countries.
He has a unique ability to teach traders of all levels to maximize theirtrading skills and profit potential. To learn more, you can visit him at: http://www.win-at-trading.com
or e-mail at: support@win-at-trading.com

Source: http://Top7Business.com/?expert=Dr._Jeffrey_Wilde

Article Submitted On: November 03, 2004