Day Trading: 2 books in 1: The Beginners Guide To Expert Practical Strategies. Swing And Day Trading, Options, Money Management and Prices. Including trade psychology and Profit Secret Tips. by Douglas Allen

Author:Douglas Allen [Allen, Douglas]
Language: eng
Format: epub
Published: 2020-09-12T00:00:00+00:00

Conclusion

A s you can tell, after reading this book, there are many things to consider before you start trading more explicitly understanding the basics before moving on to more advanced techniques.

This book should have put you in a high position in terms of seeing results and achieving your goals. Keep in mind that for you to see amazing results, you will have to act on the information provided to you in this book since it will help you see results rather than daydreaming about it. The truth is that you can be making some serious cash flow within months if done correctly. Also, you need to make sure that whatever it is that you are doing is done with perfect calculations and at your own risk.

We can't stress enough how calculated you have to be with your investments, as it will only lead you to make more money. Finally, make sure that you not only take care of the investments by keeping track of it but also that you ease into every investment that you earn as it will only lead you to do make some smart decisions in the long run. Overall, I hope you learned a lot from this book. Most importantly, I hope you take a lot away from this book.

For those who want to take an active role in their investment activities, trading is one option to consider. It’s not the same as traditional investing. Trading is aimed at earning profits over the short term. Therefore, it’s more like a business than investing. Depending on the level of commitment you can give to trading, the amount of money you can risk, and your own personal tolerance for risk, you can choose a trading style that is the best fit for your situation.

Remember that trading is risky. You should never risk more capital in trading than you can afford to lose. By taking some reasonable steps, however, you can protect yourself and your capital from catastrophic losses.

Don’t get fooled by early losses. Beginning traders can expect to have some losses and make mistakes along the way. That’s inevitable when taking up any new occupation. As long as you are not risking huge amounts of money on one single trade, you should be able to dust yourself off and get up and try again. Some people will find it to be too much to deal with, but my hope is that you will learn from your failures and do better next time, and build yourself into a successful trader with time.

Remember that the most important thing for your success is the combination of your win rate and the average win rate. Too many traders focus only on the win rate and not on the latter, thus resulting in a very warped view of what trading is all about. Always keep your risk per trade at a manageable level with the risk of ruin zero.

If possible, fix your risk per trade a few levels below the threshold in order to account for miscellaneous mistakes you might make.

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