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The Business of Trading: 101 steps to trading success by John Piper

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Starting Out with PDS – Money and Psychology

PDS can be somewhat frustrating for those of you who only take the first trade of the day.

In one notable week the first trade of the day was up +46 on Monday, +35 on Tuesday, and +19 on Wednesday but all those moves were reversed and only Monday’s opening trade ended up a winner, and that only at +5.

I know some of you grab these profits when you see them and I would encourage you to do so – simply because the name of the game is profits. If you have had a few losing days and you see +40 odd then take it – it has a large positive effect psychologically and trading is not just about money.

At this stage the important thing is to understand how the system works but also to make it work for you.

Usually ...

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