This is a recap of the video created and uploaded on Youtube by NetPicks Trading, called “4 STEPS IN PREPARING LIKE A PRO TRADER.”
Since day trading is often seen as a high-stress activity, it can be helpful and profitable to pick up on successful habits of successful people, and this video from Netpicks goes over some steps to prepare like a pro trader. Netpicks says to spend more time preparing to trade to have the best successes. They say to “figure out a clear & simple routine that can be replicated consistently as the trader sits down at their desk to work.”
” Recognize What the Key Market-moving Economic Releases and Events Are”
Netpicks suggests this as one of the preparations a day trader should undertake. It helps the trader figure out when opportunity is available. This also helps the trader avoid mistakes when economic releases occur.
While figuring out what the market activity will be like for the day to come, a prepared day trader should also “figure out possible alternative scenarios” that may occur throughout the full trading day. This helps the trader figure out the likelihood of strategies they consider as profitable.
” Identifying Key Market Price Markers for the Day”
Netpicks also recommends this rule to prepare in the beginning of the day in order to effectively start and execute trades, and according to Netpicks, this gives you “a structure with which you can better understand trading activity”, learn more on (Netpicks.com).
” Get A Performance-focused Mindset Prior to Open”
In addition to changing your mindset before trading for the day, Netpicks also advocates thinking over the trade itself to “visualize how your will trade given certain market behavior “, get more information on linkedin.com.
Traders must use whatever news is coming their way to catch onto as many trades seem to be trending. It is possible to anticipate the high and lows throughout the day. Netpicks says, “trading can be less frustrating when you expect what you are experiencing”, click http://www.dailyforex.com/netpicks/netpicks-review/195.