How To Break Out Of Your Day Trading Slump By Printing Out Charts Of Your Trades
Here is your day trading stock tips to help you to overcome trading slump in a short period.
As a short term trader (scalping, day trading, or short-term swing trading) you must be using some software for chart and technical analysis. Take chart pattern for two time frame.
As a short term trader (scalping, day trading, or short-term swing trading) you must be using some software for chart and technical analysis. Take chart pattern for two time frame.
If you are day trader, consult 5 minute and 30 minute chart. A swing trader can print out the daily and weekly charts for the symbol being traded.
On the chart, you will write your entry and exit points along with the reasons why you entered and exited. Assuming you have a written trading business plan, or some other form of written entry and exit rules (you do have those, right?!?), then make sure that you followed your rules. If not, you know where to start making the corrections.
By printing out the charts of your non-winning trades, you will have a visual record of what you saw at the time of your trades. Chances are that you will notice a recurring pattern that might be the basis of a new strategy, even if it is just a slight variation off your previous one. By printing out both time frames you increase the odds of finding out what went wrong and how to improve in the future.
This analysis will help you to find out your mistakes and you can fine tune your trading plan.
If failed to identify any flaw in your trading strategy, my best suggestion will be taking a "forced vacation."
For your wealth and abundance
Pamela
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