5 Day Trading Strategies & Ideal Chart Setups by InvestorsLive | Mar 23, 2017 | Free Content | 9 comments In the world of day trading, your ability to read charts is one of your greatest survival tools. Being able to understand the significance of a stock’s price action can help you better understand how a stock will move in the future. To put it simply, historical price action helps us predict future price action. Of course, it’s important to note that we can never predict price action with 100% certainty. For that reason, we can use a combination of pattern recognition and risk management to place trades with higher probabilities of profitability. Although this process may seem complex, the underlying concept is pretty straightforward and we actually use this type of thinking every single day. We use historical data to recognize patterns and make predictions. For example, you probably know what times there will be higher traffic on the roads. You know if you go to ...
https://www.petrapicks.com/blog/building-a-mental-fortress/ You can call it grit, moxie, spunk, tenacity, or just good old determination. But whatever you call it, a strong mindset is a necessary trait if you want longevity as a trader. If we lack confidence or are pessimistic—it will reflect in our performance. However, a powerful mind builds a mental fortress… Did you know Michael Jordan was actually cut from the varsity basketball team in his sophomore year? He simply wasn’t good enough. Imagine if he gave up after that? However, rejection didn’t knock him out of the game. He used it as motivation and it allowed him to build a mental fortress. M.J. was able to achieve his goals by focusing on them, one at a time. He practiced harder, played with intent and had a plan to become the best version of himself. Now, if you want to be the best version of yourself then you can’t neglect the mental game and how it impacts trading. I’ve put together ...
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