here will be plenty of time for counting your windfall once you have closed out your position.

After committing yourself to learning to trade well, the next step in the process is executing the plan. This includes but is not limited to:

1. Performing Market Research-weighing the risk/reward ratio

2. Precision Entry Points

3. Trade Management-placing protective stops

4. Exit Points

5. Trade Review

I use this exact process when trading stocks and options. Deviating f

As a beginning stock market trader, I frequently visited an unpleasant place called Loss Vegas. It was teeming with would be investors and traders with grand aspirations of making a killing in the stock market. Differing life experiences, bank account balances, and strategies separated them but they were all bound by the possibilities of great riches there for the taking. Some were even aware of the chances of success being less than ideal and were not deterred. I could be counted among those who would not be denied.

Truth be told, 9 out 10 stock traders will fail, miserably! The reason for this unbalanced ratio is simple. 9 out of 10 people entering the market are not traders at all but would be better classified as gamblers. Yes, I too, was a gambler in search of quick riches but found even quicker losses in Vegas.

In order to become a successful trader, you must have a winning strategy. In contrast, most beginning traders systematically make the same mistake over and over again. A flawed trading strategy will eventually wipe you out of the markets. This article will help you formulate a winning strategy.

You must approach the stock market, as you would operate a business. A business (trading) plan is imperative to the success of your new venture. Your trading plan will be the road map that guides you along the path to stock trading mastery. Skip this step and you're destined to be a life long resident of Loss Vegas.

The trading plan must outline the why or purpose for trading the markets. If your purpose is to simply make money, you are in for a rude awakening. The number one objective of a stock trader is to trade well NOT make money. Focusing on trading well will result in you making money. Making profitable trades is a by-product of trading well. Calculating profits while practicing your trade is counter-productive to your efforts. You certainly wouldn't want a lawyer tabulating his fees while researching your case, would you? The same focus needs to be applied while you trade. There will be plenty of time for counting your windfall once you have closed out your position.

After committing yourself to learning to trade well, the next step in the process is executing the plan. This includes but is not limited to:

1. Performing Market Research-weighing the risk/reward ratio

2. Precision Entry Points

3. Trade Management-placing protective stops

4. Exit Points

5. Trade Review

I use this exact process when trading stocks and options. Deviating f

be denied.

Truth be told, 9 out 10 stock traders will fail, miserably! The reason for this unbalanced ratio is simple. 9 out of 10 people entering the market are not traders at all but would be better classified as gamblers. Yes, I too, was a gambler in search of quick riches but found even quicker losses in Vegas.

In order to become a successful trader, you must have a winning strategy. In contrast, most beginning traders systematically make the same mistake over and over again. A flawed trading strategy will eventually wipe you out of the markets. This article will help you formulate a winning strategy.

You must approach the stock market, as you would operate a business. A business (trading) plan is imperative to the success of your new venture. Your trading plan will be the road map that guides you along the path to stock trading mastery. Skip this step and you're destined to be a life long resident of Loss Vegas.

The trading plan must outline the why or purpose for trading the markets. If your purpose is to simply make money, you are in for a rude awakening. The number one objective of a stock trader is to trade well NOT make money. Focusing on trading well will result in you making money. Making profitable trades is a by-product of trading well. Calculating profits while practicing your trade is counter-productive to your efforts. You certainly wouldn't want a lawyer tabulating his fees while researching your case, would you? The same focus needs to be applied while you trade. There will be plenty of time for counting your windfall once you have closed out your position.

After committing yourself to learning to trade well, the next step in the process is executing the plan. This includes but is not limited to:

1. Performing Market Research-weighing the risk/reward ratio

2. Precision Entry Points

3. Trade Management-placing protective stops

4. Exit Points

5. Trade Review

I use this exact process when trading stocks and options. Deviating f

ing strategy will eventually wipe you out of the markets. This article will help you formulate a winning strategy.

You must approach the stock market, as you would operate a business. A business (trading) plan is imperative to the success of your new venture. Your trading plan will be the road map that guides you along the path to stock trading mastery. Skip this step and you're destined to be a life long resident of Loss Vegas.

The trading plan must outline the why or purpose for trading the markets. If your purpose is to simply make money, you are in for a rude awakening. The number one objective of a stock trader is to trade well NOT make money. Focusing on trading well will result in you making money. Making profitable trades is a by-product of trading well. Calculating profits while practicing your trade is counter-productive to your efforts. You certainly wouldn't want a lawyer tabulating his fees while researching your case, would you? The same focus needs to be applied while you trade. There will be plenty of time for counting your windfall once you have closed out your position.

After committing yourself to learning to trade well, the next step in the process is executing the plan. This includes but is not limited to:

1. Performing Market Research-weighing the risk/reward ratio

2. Precision Entry Points

3. Trade Management-placing protective stops

4. Exit Points

5. Trade Review

I use this exact process when trading stocks and options. Deviating f

arkets. If your purpose is to simply make money, you are in for a rude awakening. The number one objective of a stock trader is to trade well NOT make money. Focusing on trading well will result in you making money. Making profitable trades is a by-product of trading well. Calculating profits while practicing your trade is counter-productive to your efforts. You certainly wouldn't want a lawyer tabulating his fees while researching your case, would you? The same focus needs to be applied while you trade. There will be plenty of time for counting your windfall once you have closed out your position.

After committing yourself to learning to trade well, the next step in the process is executing the plan. This includes but is not limited to:

1. Performing Market Research-weighing the risk/reward ratio

2. Precision Entry Points

3. Trade Management-placing protective stops

4. Exit Points

5. Trade Review

I use this exact process when trading stocks and options. Deviating f

here will be plenty of time for counting your windfall once you have closed out your position.

After committing yourself to learning to trade well, the next step in the process is executing the plan. This includes but is not limited to:

1. Performing Market Research-weighing the risk/reward ratio

2. Precision Entry Points

3. Trade Management-placing protective stops

4. Exit Points

5. Trade Review

I use this exact process when trading stocks and options. Deviating from your trading plan can hinder your progression as a trader in two areas. First, the effectiveness of a trading strategy cannot be accurately measured when a trader is inconsistent in the execution of a trading strategy. And secondly, altering your strategy in the midst of a trade is hazardous to your wealth. A prime example would be moving your protective stop in the opposite direction of your trade. This allows for a wider, much riskier stop loss cushion. Moving protective stops in the opposite direction of the trade is a sure sign of a rookie trader.

Following this simple formula will not eliminate visits to Loss Vegas but will ensure shorter, less frequent stays. Happy trading and here's to your success!