One day and one trade

The challenge in trading comes down to doing the right thing everyday, controlling risk everyday, not getting carried away everyday , and putting a bit of effort everyday to develop new skills and expertise. If you do that successfully everyday in a year it adds up.

Same thing applies to each trade. Each trade stands on its own and the past does not matter. If you do each trade right then over hundreds of trades things add up. Getting stock selection right on each trade, getting entry, exit , stops, position size right on each trade is the day to day challenge of trading.

Controlling the controllable part of trading is where we must put our effort as traders. We do not completely control the outcome of a trade, it depends on number of factors outside our control. Wars can suddenly breakout. Companies can pre announce bad earnings after we enter. Analyst can upgrade or downgrade a stock. But that is all not our control. We must strive to do the controllable things right on each trade.

Everyday do the same thing over and over again on each trade the right way. Once you have a well thought out method this becomes easier task. After that the the day to day challenge is largely about implementing your plan. That requires setting up a daily routine and adhering to it as far as possible.

But we do not need to do same thing again and again blindly irrespective of market conditions. We know our swing setups work, but overall market conditions can have impact on the % of trades likely to work. So situational Awareness (SA) is important. It helps you in controlling your trade pace. In good environment you want to be more aggressive. In bad conditions you want to focus on risk management.

SA also helps you tactically change your entries, or exits or profit target. If market is range bound you do not expect big moves accordingly your target must change.

SA also helps you to understand market phases. Different phases of market favor different kind of stocks or setups. Some time beaten down stocks do well. Sometime stocks with momentum do well. Some time value or growth is in favor. Knowing what is working helps you focus on hot opportunities.

If you want to make lot of money trading focus on one day and one trade....

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

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