That’s right, to beat the market is simply impossible, no one can win 100% of the time. Just like in blackjack, no one can win every hand. However using the S&P 500 as your benchmark it is possible to produce significantly higher returns and outperform the market, here’s how.
This section is devoted to the things you wish you knew BEFORE you started trading, in hopes that other traders can benefit from your stories. I’ll share mine a bit later on!
Overleveraging, trading with “scared money” is not sustainable and will cause you to lose your money faster than playing the craps tables in Vegas. Entrepreneurs like Thomas Edison, Donald Trump and Steve Jobs will often say fail fast and fail often, I’d like to add that in trading, you must fail small.
Trading with the NYSE tick can lead to increased efficiency in your entry’s and exits. While it is most commonly used for intraday trading, it is possible to trade larger timeframes. The NYSE tick is only available during regular trading hours of 9:30 AM EST – 4:00 PM EST as the data is derived from the New York Stock Exchange.
Trading losses can end a career in a matter of a day, and hour, or in extreme circumstances even a few minutes. Here I outline some of the ways I have dealt with losses in the past and how I got over the hump.
If you have $10,000 to put towards your trading account, don’t waste your time. As a matter of fact if you have $15,000 or even $25,000 in your trading account, don’t waste your time. That is, don’t waste your time with careless mistakes because every trade counts.
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