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Day Trading Number One Key to Success.

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Today is the first day of the rest of your life.. You know the saying and probably heard it a thousand times but how many people use it to empower themselves to reach a level where they have no regrets and truly feel good about everyday they have.

The market is an organism that is constantly evolving and adapting to the changes around it, It is influences by factors that spread across the world we live in and sometimes there are no rhyme or reason behind it. This in itself makes it an uneven playing field and the advantage always goes to the person who can maintain his composure and capital in the chop that has become more and more prevalent. Over the last year we have seen the markets get more and more volatile only to end the year pretty much unchanged. This volatility is in fact good for traders who can take advantage of it. But because of the volatility it has become harder and harder to be a longer term investor and rules of prior years are no long applicable. The days of listening to analyst are over, everyone has there own bias and agenda and because we cannot distinguish between pure due diligence or biased opinion (if you notice most times a analyst comes on to talk about a stock its because they have an interest in it one way or another).

The fear (volatility) in today’s markets are probably one of the hardest factors to deal with. The term “fear’ is a dead give away on how the markets react to uncertainty. Fear is the main emotion that will take you out of your trade and usually the main reason you make irrational decisions in the market like getting back into a stock because it is moving and you are “afraid” of missing an opportunity..letting the trade get away from you. The main reason 90% (rough estimate) of traders fail is because they react to there emotions and usually got their signals mixed up.

Now understanding what is wrong with something is half the battle the other key part is correcting it. When it comes to the markets and fear you need to take steps that force you not to fall in with the herd.to control the fear.

This first 10 for 1000 watch list for this year outlines the steps to take to force you to only take the Highest Probability Stock Set ups (HPS) in the market at that particular time. This methodology takes the emotion out of the trade and lets the volatility work in your advantage. The other key part will be the introduction of the HPS 40. The HPS 40 are forty stocks that will be tracked for there HPS setups and alerted as they approach and trigger that zone. The purpose of this is to keep us in a tight defined non emotional trade zone where we become familiar with certain trading styles of individual stocks and profit from them on a consistent basis. No greed, no hopium, less risk and faster profits.

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