Mr/Ms Trader:

Don’t Let Your Opinion Govern Your Trades

“Where’s the Market Headed? Watch What It’s Showing You” – Marv Eisen

Day trading is an enviable way to make money and most traders start the day by reading the financial news and watching the “talking heads” on TV. There are multiple stories daily that have the potential to move the market. As a result, traders tend to form an opinion as to the direction the market might be headed and base their trades on that opinion. Some traders may not even realize their trades are motivated by an opinion that was formed from news of the day.

No trader can be faulted for wanting to get all the information available in order to help them trade. And because price movement is based on traders’ opinions rather than company reports, day traders base their trades on an opinion.

It’s not only smart to base trades on opinion, it’s also vital in order to make money as a day trader. But the important thing is that it should not be your opinion, it needs to be the opinion of others. By watching the direction the market takes, you are watching the results of the opinion of other traders and that’s the only thing that matters. So while it’s fine to have an opinion, keep your opinion to yourself and watch the price action which will show you the collective opinion of other traders. Go with the flow and you’ll make money. Don’t let your own opinion govern your trades.

Let me show you how to lose your fear of running out of money by learning how to trade. YOU CAN LEARN THIS SKILL. I’ve made a video that explains why trading is the most VALUABLE skill you can ever learn. Also, subscribe to my mailing list to learn more about my course, “Trading Mastery For Financial Freedom” at timelessdollar.com. Simply click the button.

Speaking of Opinion:
S&P Micro Eminis or Eminis: What’s Best For You?

When you think Micro E-mini futures, think small. Day traders get access to the highly liquid S&P index futures market at just 1/10th the size in comparison to the classic E-mini contracts. And micro eminis require significantly less capital to trade—which is a big plus for traders with limited capital, and that’s almost everyone!

It’s crucial to enroll in a course that teaches how to trade, like Trading Mastery For Financial Freedom, the one I offer here on my site. Start by learning how to manage risk by enrolling in my free trading course. But just like anything else, it’s important to enroll in a course so you know what you’re doing. Also, anyone considering day trading should consider the risks inherent in futures trading, since futures aren’t suitable for everyone.