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traded stocks. A good trader can trade off the tape on about 12 stocks at one time. |
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The best trades are sometimes the trades that you missed. The reason is that many others also wanted those trades and someone just beat you them. Ask any fisherman about the fish that got away. |
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A good trader is like a gunslinger in the old West. In addition to that hard, flinty glance, a professional trader needs discipline, concentration, discipline, an ability to remember numbers, discipline, and an ability to see patterns. Did I mention discipline? |
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I cannot mention discipline enough. The main discipline is to take your losses early. Never agonize over small losses. They are part of the trading game and living proof of your continuing discipline. |
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Concentration means the ability to look at ticker quotes and discern price movement and trends without letting anything distract you. Focus on the movement of the prices displayed on your trading screen. Also watch the trends on the market indexes. |
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The Market Minder is a separate window that you can program to follow indexes and trends on your trading screen. A sample MarketMinder window is shown in Chart 6-3. |
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Your trading system will produce almost any index that you would reasonably want to see. The number of indexes is limited only by the bundled services that your quote provider can access. |
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In Chart 6-3 under the "Symbol" column you are watching several important indexes including the Dow Jones industrial index ($INDU), the Nasdaq composite index ($COMPX), the |
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