It’s All About The Setup – The Key To Consistent Profits | stockbee

12/05/2011

It’s All About The Setup – The Key To Consistent Profits

Every day I see so many trade ideas on Twitter/Stocktwits, the financial media, free emailed stock ideas, blogs etc. The list is endless. With all these great ideas, why aren’t all traders rich and making money. All we have to do is trade those ideas. Why do many fail and lose. The answer is that most technical traders do not have a day in and day out process with a defined setup or setups that they focus on consistently. Most traders are continually looking for the next undiscovered indicator, the next holy grail or just plain following who they perceive as the new hot hand. They never take the time to define their own setup, their own business plan and run their trading as their own business.
By Lasertrader

Read the entire post it goes in to details of setup selection.

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