GET STARTED TRADING NOW!
Lesson 4
Entering and Exiting
Your First Real Trade
OK! You’ve come a very long way and can now see light at the end of the tunnel. You’ve developed or acquired a trading system that generates good results in your market, in your time frame and in different market conditions. You were able to build regular profits in your simulated trading account. You have been looking forward to this day and are now ready to play with the big boys.
Before jumping into the pond of the real world market place, you might like to get your hands on some more in-depth information about how things work. I have provided a download link here below for a comprehensive, 180-page e-Book entitled, Introduction to Stocks . I hope that you enjoy it.
Click here to read the PDF in your browser, or right-click to download it
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If you do not yet have a Trading System to work with, I recommend that you come and work with me. You can subscribe to and/or read through all of my published work and see what you think. Then you may consider subscribing to my Market Wealth Live! service which allows you to trade the 23, 90 or 360-minute price bars live with me in any of our four markets. We have an amazingly successful track record and are making money nearly everyday!
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Always remember, trading is a “zero sum” game. This means that in order for someone to make a buck, someone has to lose a buck. In other words, this is a game of extreme competition. And who are your competitors in the market?
They are mutual fund managers, hedge fund managers, guys with PhDs, guys with 30 years of experience in the market, floor traders and guys with lots and lots of money.
Your competitors are fierce and just plain don’t give a damn if you lose your savings account, your trading account or the money for little Billy’s new leg brace so he can finally attend school for the first time. Do you get my drift here?
In my experience, the key to success is to start small and slowly build up. This will help to keep your nerves under control. Study Money Management in great detail. Learn how much money to put into any single position. Make sure that one bad trade will not seriously cripple your trading account.
You must become a total expert in this game if you are to eventually make your fortune. And give it some time. As they say, “Rome was not built in a day.”, and “Anything worth doing is worth doing well.” Ditto, for the trading game. Read, study and practice lots! This is no “get rich quick” scheme.
Lesson 5 will be about “Record Keeping, Trading Plan Adjustment and Advanced Techniques”.
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Click here for Course Introduction
Click here for Lesson 1
Click here for Lesson 2
Click here for Lesson 3
Click here for Lesson 4
Click here for Lesson 5
Click here for Course Conclusion
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email Stan at: sdgrist@yahoo.com
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copyright Stan Grist 2008 - 2009
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