Remember! There Is No Crying In Baseball And There Is No Whining In Day Trading!
Traders, you have to stay positive!
If you are thinking of entering into the “day trading business”, make sure to check any negative attitude you may have at the door.
Day trading is tough enough even for the most optimistic people, but, I for the life of me, don’t know what some people are thinking of when they enter into trading (or any “trade” for that matter) with negative thinking.
I see it all the time. We offer a free two-week trial membership, and so many people come into the room with a predetermined mind set that is so negative that I don’t know how they can function in life itself, let alone in investing in or trading the stock markets. The ones with negative mind sets rarely last very long.
Trading is no different than anything else you do; you have to have the proper attitude and stay positive. There are thousands of books on the power of positive thinking, so I’ll not go there. But when it comes to trading specifically, there are a few things to think about.
The first thing to get ingrained in your mind is to forget about the indices! It really does not matter if the Dow Jones Averages or the NASDAQ index is up 200 or down 200. Oh sure, you have to pay some attention to the index just so you know what you may expect as far as what the overall “tone” of the market. But there is no such thing as an up day or a down day based on the Dow or the NASDAQ as far as a Day Trader is concerned. There is only profit and loss.
No matter whether the markets are going up, down or sideways, there are always stocks to trade both directions! That’s important to remember. A lot of stocks you will be trading are going to be driven by news specific to the individual stocks. That news is going to play a more important role in where the stock is going than the over all market itself.
The Dow can be off 200 points but if news breaks that XYZ stock just discovered a new and exciting treatment of cancer, that stock is more than likely going to move up regardless of what the Dow is doing, even if it is a Dow component.
Trading down markets can actually be quite lucrative. The obvious way to play down markets is to “go with the flow” as they say, and look for stocks to short. Shorting stocks, contrary to some beliefs, is not a negative or anti-American thing. Those that think so need to readjust their thinking. Shorters have been around since before the meeting under that Buttonwood tree that gave birth to the New York Stock Exchange. (See: “What Does A Buttonwood Tree Have To Do With the New York Stock Exchange” at this source).
On the other hand, most traders and investors do not short stocks. They are looking for stocks to trade to the upside. If and when good news hits an individual stock in a down market, it is likely to attract a lot more interest. Depending on what stock it is and how good the news is, it may even give a boost to the entire market.
Too many traders let bad news put them into negative frame of mind. I know it is difficult to do, but you have to be able to shake off the negative and focus on the positive.
If you are thinking of entering into the “day trading business”, make sure to check any negative attitude you may have at the door.
Day trading is tough enough even for the most optimistic people, but, I for the life of me, don’t know what some people are thinking of when they enter into trading (or any “trade” for that matter) with negative thinking.
I see it all the time. We offer a free two-week trial membership, and so many people come into the room with a predetermined mind set that is so negative that I don’t know how they can function in life itself, let alone in investing in or trading the stock markets. The ones with negative mind sets rarely last very long.
Trading is no different than anything else you do; you have to have the proper attitude and stay positive. There are thousands of books on the power of positive thinking, so I’ll not go there. But when it comes to trading specifically, there are a few things to think about.
The first thing to get ingrained in your mind is to forget about the indices! It really does not matter if the Dow Jones Averages or the NASDAQ index is up 200 or down 200. Oh sure, you have to pay some attention to the index just so you know what you may expect as far as what the overall “tone” of the market. But there is no such thing as an up day or a down day based on the Dow or the NASDAQ as far as a Day Trader is concerned. There is only profit and loss.
No matter whether the markets are going up, down or sideways, there are always stocks to trade both directions! That’s important to remember. A lot of stocks you will be trading are going to be driven by news specific to the individual stocks. That news is going to play a more important role in where the stock is going than the over all market itself.
The Dow can be off 200 points but if news breaks that XYZ stock just discovered a new and exciting treatment of cancer, that stock is more than likely going to move up regardless of what the Dow is doing, even if it is a Dow component.
Trading down markets can actually be quite lucrative. The obvious way to play down markets is to “go with the flow” as they say, and look for stocks to short. Shorting stocks, contrary to some beliefs, is not a negative or anti-American thing. Those that think so need to readjust their thinking. Shorters have been around since before the meeting under that Buttonwood tree that gave birth to the New York Stock Exchange. (See: “What Does A Buttonwood Tree Have To Do With the New York Stock Exchange” at this source).
On the other hand, most traders and investors do not short stocks. They are looking for stocks to trade to the upside. If and when good news hits an individual stock in a down market, it is likely to attract a lot more interest. Depending on what stock it is and how good the news is, it may even give a boost to the entire market.
Too many traders let bad news put them into negative frame of mind. I know it is difficult to do, but you have to be able to shake off the negative and focus on the positive.
Traders, you have to stay positive!
If you are thinking of entering into the “day trading business”, make sure to check any negative attitude you may have at the door.
Day trading is tough enough even for the most optimistic people, but, I for the life of me, don’t know what some people are thinking of when they enter into trading (or any “trade” for that matter) with negative thinking.
I see it all the time. We offer a free two-week trial membership, and so many people come into the room with a predetermined mind set that is so negative that I don’t know how they can function in life itself, let alone in investing in or trading the stock markets. The ones with negative mind sets rarely last very long.
Trading is no different than anything else you do; you have to have the proper attitude and stay positive. There are thousands of books on the power of positive thinking, so I’ll not go there. But when it comes to trading specifically, there are a few things to think about.
The first thing to get ingrained in your mind is to forget about the indices! It really does not matter if the Dow Jones Averages or the NASDAQ index is up 200 or down 200. Oh sure, you have to pay some attention to the index just so you know what you may expect as far as what the overall “tone” of the market. But there is no such thing as an up day or a down day based on the Dow or the NASDAQ as far as a Day Trader is concerned. There is only profit and loss.
No matter whether the markets are going up, down or sideways, there are always stocks to trade both directions! That’s important to remember. A lot of stocks you will be trading are going to be driven by news specific to the individual stocks. That news is going to play a more important role in where the stock is going than the over all market itself.
The Dow can be off 200 points but if news breaks that XYZ stock just discovered a new and exciting treatment of cancer, that stock is more than likely going to move up regardless of what the Dow is doing, even if it is a Dow component.
Trading down markets can actually be quite lucrative. The obvious way to play down markets is to “go with the flow” as they say, and look for stocks to short. Shorting stocks, contrary to some beliefs, is not a negative or anti-American thing. Those that think so need to readjust their thinking. Shorters have been around since before the meeting under that Buttonwood tree that gave birth to the New York Stock Exchange. (See: “What Does A Buttonwood Tree Have To Do With the New York Stock Exchange” at this source).
On the other hand, most traders and investors do not short stocks. They are looking for stocks to trade to the upside. If and when good news hits an individual stock in a down market, it is likely to attract a lot more interest. Depending on what stock it is and how good the news is, it may even give a boost to the entire market.
Too many traders let bad news put them into negative frame of mind. I know it is difficult to do, but you have to be able to shake off the negative and focus on the positive.
If you are thinking of entering into the “day trading business”, make sure to check any negative attitude you may have at the door.
Day trading is tough enough even for the most optimistic people, but, I for the life of me, don’t know what some people are thinking of when they enter into trading (or any “trade” for that matter) with negative thinking.
I see it all the time. We offer a free two-week trial membership, and so many people come into the room with a predetermined mind set that is so negative that I don’t know how they can function in life itself, let alone in investing in or trading the stock markets. The ones with negative mind sets rarely last very long.
Trading is no different than anything else you do; you have to have the proper attitude and stay positive. There are thousands of books on the power of positive thinking, so I’ll not go there. But when it comes to trading specifically, there are a few things to think about.
The first thing to get ingrained in your mind is to forget about the indices! It really does not matter if the Dow Jones Averages or the NASDAQ index is up 200 or down 200. Oh sure, you have to pay some attention to the index just so you know what you may expect as far as what the overall “tone” of the market. But there is no such thing as an up day or a down day based on the Dow or the NASDAQ as far as a Day Trader is concerned. There is only profit and loss.
No matter whether the markets are going up, down or sideways, there are always stocks to trade both directions! That’s important to remember. A lot of stocks you will be trading are going to be driven by news specific to the individual stocks. That news is going to play a more important role in where the stock is going than the over all market itself.
The Dow can be off 200 points but if news breaks that XYZ stock just discovered a new and exciting treatment of cancer, that stock is more than likely going to move up regardless of what the Dow is doing, even if it is a Dow component.
Trading down markets can actually be quite lucrative. The obvious way to play down markets is to “go with the flow” as they say, and look for stocks to short. Shorting stocks, contrary to some beliefs, is not a negative or anti-American thing. Those that think so need to readjust their thinking. Shorters have been around since before the meeting under that Buttonwood tree that gave birth to the New York Stock Exchange. (See: “What Does A Buttonwood Tree Have To Do With the New York Stock Exchange” at this source).
On the other hand, most traders and investors do not short stocks. They are looking for stocks to trade to the upside. If and when good news hits an individual stock in a down market, it is likely to attract a lot more interest. Depending on what stock it is and how good the news is, it may even give a boost to the entire market.
Too many traders let bad news put them into negative frame of mind. I know it is difficult to do, but you have to be able to shake off the negative and focus on the positive.
posted by zzzzzzzzzzz at
2:29 AM
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