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(This is Part 2 of the Great Expectations Series for traders. Part 1 can be read here.)

So you’ve taken a personal inventory in Part 1 and looked at your resources (time, money, personality and tolerance for risk). Now let’s move a step further and look at how you can blend your resources and style with the existing trading environment.

[Note: The phrase “day trading” is often used to replace what should be described as “active trading.” For the purposes of this blog, “day trading” will simply be used to refer to a timeframe of trading, meaning any trade which is opened and closed in the same day is a ‘day trade.’ Many would-be traders expect that merely having time available to trade actively each day must mean they should day trade. I disagree. Just because you have all the time in the world doesn’t necessarily mean you should become a day trader!]

Once you’ve determined the timeframe you ought to be trading, get connected with other traders. Networking with other traders to find out what seems to be working is a great way to stay focused on blending your style with what the market is currently offering. More importantly, Read more »

As we begin this Great Expectations Series, I think it’s important to start out with a look at your own trading resources. At first glance, we think only of money available for trading, but it goes far deeper than that.

All traders can benefit by taking a personal inventory of not just their capital available for trading, but their time, their personality, and their tolerance for risk. Even veteran traders are wise to periodically check their situation to confirm that their current methodology is best for them. After all, it’s difficult to set (or adjust) expectations for yourself unless you’ve examined your resources closely.

Read more »

Welcome to my Great Expectations Series on trading!

Whether you’re a beginning trader or a veteran, there’s something every trader has in common – an expectation of where we are headed. Yes, goals are certainly part of our expectations, but there is much more to it than merely goals. Working toward meeting your expectations will require that you take stock of where you are right now, structure the proper trading plan of attack for you, and then setting up the details and goals as you navigate your way down the path toward profits.

So in the coming days, we’ll take a closer look at topics that relate to our expectations when it comes to trading. We’ll do more than scratch the surface of each one, hopefully, without getting so deep that we lose our focus, Read more »