Traders quoted screens need three things: energy, the ability to make smart choices and ability to respond to existing conditions without further reflection. If you're someone who needs time to decide, or if you come to a screeching halt by refusing to act after the decision – this is not your game. Victory in this game requires instant decision-making and immediate response, there is no time for lengthy reflection or revision made. If you can not make decisions like this, you will end within a few months. This game is quick and the dead. If you do not fast, you'll be dead.
It's just as much as it is easy. Short-term trading of this nature requires the physical ability to immediately attack the market and just as quickly change the decision taken by you only a few seconds ago, if circumstances so require. Well, that land goes to the humble to inherit because they'll never get rich as a Day Trader. Watching mezhdnevnym tide prices screen, day after day, hour after hour, requires the ability to stay focused and busy every hour of each trading session. It is not for dreamers.
If you can not concentrate, always bear losses begin to forget to do that we should not find yourself in the place (physically or mentally) to some critical moment, it is in those 60 seconds that make up the difference between life and death in your trading. It is not easy to stay always focused and intense, especially when calling your (a) spouse (s) to ask you some question about the home garden or home sewer, or close friend to chat. Do you have hard to tell them that you can not talk right now, to interrupt a conversation with a close friend, refuse to speak to your wife or husband? If so, you come to this work. If not, better re-think whether you should engage in intraday trade. I assure you, when you divert a phone call, thus, would be so instant, when the market will make a major move, catching you unawares. Only then did not say I did not warn you. Now let consider the purpose of this game. You must also be able to instantly change your perceptions about the future. This is a career not for the slowpoke. How to make money on-screen trader has a short-term trader one goal – to catch the current trend of the market. That's all you have to try to do it! It seems easy, but believe me, it's not so easy, and for two reasons. The first is that the identification of trends, in essence, both art and science, and abstract art prevails. It is a mixture of Picasso and Cezanne with an admixture of Chagall. Secondly, even if you correctly identify a trend change, your reactive mind can spoil everything. This is especially true if your long position with a loss or a nominal profit, and suddenly comes to a sell signal. Do not confuse the intra-day trading to long-term prognosis. The latter concerns the future. Intraday traders do not worry – just can not worry – about the future. Your only concern – in the same phase with the current short-term trend. Your mission, should you accept this assignment, to imitate what the market does. If it goes up, you should set a long position if down – short. Attempts to predict the short-term highs and lows – a surefire way to quickly deplete your financial reserves. You need to be a trend, because it is your only friend.