Need To Trade!

You don't HAVE to be trading.

As a novice trader, you'll often feel the need to trade.

You may be bored or frustrated. Or you just want to try a certain type of trade.

STOP!

Realize that you don't have to be trading all the time to be successful. In fact not trading is often the very best decision you can make.

The market tells you when to trade. If you feel the urge to place a trade or find yourself chasing a trade, walk away from the computer. Better still; take the opportunity to meet a friend for coffee.

The trades you do when you're feeling the "need" will usually be lemons - and leave you with a very bitter taste in your mouth!

They will usually not have clear signals, but you've convinced yourself they are there. After losing your premium, or much of it, you'll look back and wonder how you could possibly have entered that trade. It's happened to all of us, so don't be too hard on yourself. Just don't do it again.

The market is going to do what the market is going to do, not what you need or want it to do!

And remember the old saying, "If you can't see it, it's not there". So if you stand back from your computer and the chart pattern or signal doesn't jump out at you, it's not there.

Easy is Best

The novice is constantly staring at charts, looking for and often inventing signals. If you have your strategy in place and you wait for the patterns to form, your entry points will FEEL easy. They will be obvious - you won't need to be searching for them.

Write It Down

Remember to keep a log book. We keep one, which includes any potential trades - those which look like they will possibly provide an entry in the near future. It's good to see if they eventually develop into a trade. It will help guide you up to a point where you make a decision whether to enter, or to leave it alone.

Also, when you enter a trade, log it in your book with a few details and, commit to a stop loss point and a profit level where you will be happy to exit the trade. Remember, don't be greedy - or you'll see your premium reach that point, pass it and quickly drop back past your original exit point. You'll then see how you would have been happy to exit at your prescribed price!

Much of the time there won't be any trades for you to enter, so it leaves you with plenty of spare time for gaining extra knowledge and enjoying life. You probably won't trade more than a few times a week. So, you can see, there's a lot of time to be analysing charts - and feeling the NEED to trade. Be strong and disciplined!

We are not providing you with financial advice. We are simply sharing with you what has and hasn't worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.

David Chandler
http://www.stockmarketgenie.com

For your FREE Stock Market Trading Mini Course: "What The Wall Street Hot Shots Won't Tell You!" go to: http://www.stockmarketgenie.com

---

Investing Online Has Its Rewards: Find Out How To Take Advantage Of Them

Computerized investing. Online investing. Have you taken the next step... Read More

Have Analysts Gotten Honest?

It caught my attention when I heard an analyst on... Read More

Is Offshore Banking for You?

You've probably heard about people who keep their money offshore.... Read More

Use this Simple Trick its to Buy $100 Bills Direct from your Bank for only $97

Most People just don't understand the power of using their... Read More

Short Selling for Investors

Shorts. Let's see. If there are shorts there must be... Read More

Forex Trading Best Practices

FOREX, the term for the FOReign EXchange market, is an... Read More

Are You An Investment Dummy Like Me?

I am good at a few things. I can certainly... Read More

Almost Anyone Can Open A Roth IRA!

The Roth is kind of weird until you get used... Read More

The Biggest Oil Opportunity in the World ? And How You Can Profit From It

Where is the second biggest deposit of oil reserves in... Read More

Online Trading Options Strategies - Rolling

Rolling is defined in options online trading as moving a... Read More

In a Time of Need

As I take my leisurely walk with my dog through... Read More

Creating Wealth by Gearing Up

Gearing is where you borrow money to invest. As already... Read More

Your Worst Enemy To Successful Investing - The Media

How do you make your investment decisions and where do... Read More

Success Trading: Some Basic Terminology for New Traders

The world of trading can get very complex because the... Read More

Stock Market Horizons: Gold $3,000, Oil $70

In the last two decades, even though gold prices have... Read More

Five Sure Fire Way to Secure Your Financial Future

"You can be poor when you're young, but you can't... Read More

How Do I Start Investing Online and What Are Some Basic Tips?

If you are new to investing online, don't put your... Read More

Why You Need To Buy and Sell Gold Coins (Part 3)

Putting Rare Coin Market Cycles to Work for You...Until recently... Read More

Global Markets: A Window on the World Economy

Expectations drive the market. Every stock price is driven by... Read More

Retirement Plan Considerations Cheat Sheet for Small Business

RETIREMENT PLAN CONSIDERATIONS are something every small business person needs... Read More

Time is Money and We Are Running Out of Both!

One of the fundamental principles of finance is the concept... Read More

Making Every Penny Count

More and more workers are leaving their jobs and taking... Read More

Missleading Fund Names Wreak Havoc On Investor Returns!

Mutual fund managers use fake fund names to part you... Read More

HYIPs Investments or Scams?

High Yield Investment Programs (HYIPs) appear at first to be... Read More

When NOT to Invest

Unfortunately, many investors who are seduced by the lure of... Read More

Rules of Simple IRA Your Business Needs to Know

A Savings Incentive Match Plan for Employees plan, better known... Read More

Creating Momentum with Options - Pro and Cons of At-the-money, In-the-money, and Out-of-the-money

To create momentum in your options trading you need to... Read More

Asset Allocation: Critical to Your Investment Success

Asset allocation is a critical component of investing success. Both... Read More

Retire Dollar Smart

Jim Miller is a registered investment advisor. This means that... Read More

Raising Capital in Today?s ?New Economy?

We've helped a number of clients develop business plans and... Read More

Choosing A Financial Advisor

With so many financial advisors trying to woo you with... Read More

Wit and Wisdom on Money, Wall Street and Success - Part #1

I love to collect quotes as they concisely promote a... Read More

Remembering TEOTWAWKI and Learning from It

Its only been about 5 years since we had major... Read More