5 Tips to help you become more consistent
1.) Say whatever you want about Patterns! but they WORK!- I can spot and call a play before the actual break-out or break-down occurs. This is because I have dedicated many hours to back-testing as well as the constant visual I receive daily just from looking at charts on all the different time frames.
2.) Support and Resistance- Super imperative! I can’t stress enough how support and resistance have been a factor in each and everyone of the trades I’d placed. Just understanding the simple logic that, what was once Support is now Resistance-and what was Resistance is now Support -can take you very far in your trading career.
3.) Morning Preparation- I take at least 1hr before the market opens to find and chart every stock that I will trade that day. I go beyond the typical “news related events” and break down the actual technicals of each stock.
4.) Weekends and Nightly Preparation- I always have a back up watch list, just in case I do not like any of the actual morning Gaps that occur on that particular day. The Weekend is where I would typically find my swing trades. Putting in hours of hard work is what really pays off at the end.
5.) Discipline- Not all trades are worth the risk. You should be able to identify which trade is a viable set up based off of high probability. Having the discipline not to trade Everything you see, would set you apart from the Novice. No chasing, the news, rumor, or just because your favorite Guru alerted a stock.
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