I am amused by the various things I have found that can detract a trader from his primary mission...that is to trade. I am not one to look for "teenies" and donot believe in the philosophy that a trader must execute 60 trades in a day to exert his/her prowess in the market. In fact I find that the philosophy of "multiple teenie trades" was created by the discount brokerages that "suck your blood".
Up here in the "frozen North of Canada, we had a company come in here that was providing all of the "quick access ECN...isld etc etc access to the American trading system. They immediately charged anyone wishing to use their system $4,000 for a course in the "use" of their system. They then insinuated that the only way to pass the course and become a "trading phenom" was to execute a minimum of 35 trades per day!
So, from the start, these companies are forcing you to accelerate trading when you, at best are a novice, this creates stress, stress creates anxiety, and anxiety leads to mistakes, and mistakes lead to a loss of trading money...... quickly.
People that are in control of their emotions are able to trade any market. Fast moving stocks on Nasdaq for them are a huge enjoyment that brings out their competitiveness and keeps them "in the trade".
Some people are incapable of moving into Nas and fail continually. That doesn't mean you are a "bad trader", what it means is you have "picked" the wrong market to play in! I know many traders that "never" trade the Nasdaq, and live on the NYSE or TSE(Canada).I also know traders that believed that a traders level of "success" was determined by his prowess in the Nasdaq. Some of those traders are now selling used cars.
Everyone has different emotional triggers and levels that affect those triggers. Pick the market that suits your "emotional stability" and play it. As time progresses you can improve in markets that in your earlier years, you would have been a huge failure.......baby steps is the answer.
the Chief |
