How to Be More Selective – Daytarding Instant Help

by akos on May 15, 2014

This helped me a lot…….

 

Before you take a trade ask yourself the following question!

 

If this single trade cost me $100 in commission would I still take the trade?

(the smaller your account the easier to decide; if you have a 100k account replace commission with 1k or perhaps 10k )

 

If the answer is NO, then do NOT take the trade.

This little technique will hep you to filter out the shitty trades that come from boredom.

If you’re answer a big ass YES, and you feel it in your gut that you can execute a profitable trade, that’s when you take it.

I hope this will help you to get more selective. I know it’s hard because you’re your own boss so you gotta hold yourself accountable but the more you practice the better you get and the more it will become second nature to you.

Remember, trading more doesn’t necessarily equal more money; trading better does.

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{ 2 comments… read them below or add one }

Emmanuel May 23, 2014 at 9:11 am

Hello Akos, can I please be your disciple in this trade business of yours?

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akos May 24, 2014 at 1:22 am

yeah, sure. what do ya mean?

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