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(This is Part 5 of the Great Expectations Series for traders. Be sure to read Parts 1-4 from the main Great Expectations Series page!)

What good is having a road map if you aren’t quite sure which direction to travel? Goals are underrated benchmarks which are entirely created by you. They’re the destinations you’ll be traveling toward on your road to profitability, so let’s jump right in and see how to blend them with your trading expectations.

It’s been said that “if you can see it and you can believe it, then you can achieve it.” In my own experience with trading, sports, or any other endeavor, I know this is true. There’s absolutely no substitute for having a target to aim at. While it’s good to keep your nose to the grindstone and have a trading routine, you’ve got to be able to look up and measure your progress. Knowing where you’ve been is only half of the equation…..you absolutely HAVE to know where you’re headed.

Knowing what you’re aiming for Read more »

The “D” Word is for both sides of a trade.

While taking small losses is widely accepted as the way to survive in trading, good discipline will serve you well on the profitable side of a trade too.

TGB is a little stock which just gave us a huge upside pop in spite of it’s low share price. I recently listed this small gold stock in the “Momentum Movers” portion of The Bandit Broadcast stock newsletter with a buy point of $3.50.

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I just wanted to send a big THANKS to the great folks at CyberTrader for inviting me to participate in the first-ever CyberTrader Client Summit recently. It was a great time of interaction with a handful of other traders as well as a wonderful opportunity to get the full tour of the CyberTrader facility and a behind-the-scenes look at their entire operation. I’ve never seen so many safety nets in place for staffing, data, order routing venues, and so much more. They’ve really thought of everything, and they even test their backup plans regularly!

Simply the fact that CyberTrader was interested in inviting a handful of traders in for feedback reinforces to me that they care about the ongoing improvement of their product and services. I’ve seen this over the past few years in the enhancements they’ve added to the platform, but last week was confirmation of that. Because trading is my job and I’m a CyberTrader client, I was quite delighted to be reminded of just how important client feedback is to them.

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(This is Part 4 of the Great Expectations Series for traders. In case you missed them, check out Part 1, Part 2, and Part 3!)

The cat’s out of the bag. You’re fully aware that it might take some time to become a great trader. Does that mean you just sit back and wait for time to elapse? Of course not! Your job now is to set up your trading plan by implementing a strategy that will suit your needs and serve as your road map, so let’s get to it.

The two most basic active trading strategies are day trading and swing trading. Each one has its own benefits and drawbacks, so we’ll look at them both. When it comes to your own trading plan, consider your own situation and which strategy will cater to your needs best.

A day trading strategy has a number of benefits over other trading styles during certain market conditions. Day trading offers up to 4-to-1 intraday buying power ($25,000 account minimum), which allows the aggressive trader higher leverage in order to generate big profits in short-term price moves. Day trading also requires less homework outside of market hours than other strategies, because a good real time streaming alerts program can generate trading signals for you based on your criteria intraday.

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I sure appreciate The Wall Street Journal Online quoting me in tonight’s article, What to Expect From Another Decade Of Investing Online.

I believe strongly that the internet will continue to evolve somewhat, but that the biggest change we’ll see moving forward as it relates to trading will be the way we use it, most notably via wireless trading. It’s already common to have wireless access for a laptop computer, and I’ve had the ability to trade wirelessly via my PalmOne Treo for a couple of years now through CyberTrader. I think that kind of technology will become more widespread and improve by leaps and bounds in the next decade, and it could very well impact how trading is done around the globe.

Exciting stuff! I can’t wait to see how it evolves.

By the way, The Wall Street Journal Online still has a few days left for their Open House as they celebrate 10 years of being online. Congratulations to them as they continue to put forth only the highest-quality content!

Jeff White
President, The Stock Bandit, Inc.
www.TheStockBandit.com