Chapter 18

Ten Guiding Principles for the Perfect Trading Day

IN THIS CHAPTER

Bullet Preparing yourself technically and mentally for the day (and following up when the day is done)

Bullet Developing your mental strengths and your mindset

Bullet Managing risks and working through possible scenarios

Bullet Managing your trades — and your emotions

In this chapter, I show you what a perfect trading day looks like in practice. You have armed yourself if the following statements apply to you:

  • You have prepared yourself thoroughly — technically as well as mentally.
  • You know that a positive mindset makes it possible for you to profit from your professional expertise.
  • You have worked out a plan for the day — one with concrete guidelines and goals.
  • You know which trading style is best suited for your personality.
  • You're an expert in your particular market niche — you play to your strengths and thus create a trading edge for yourself.
  • Your trading is based on what you do best.
  • You have successfully tested your trading strategy using your demo account, and you have determined that it’s replicable. In other words, you ...

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