Peaceful_Warrior
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Any suggestions for trading approach and brokers ?
Cheers,
Michael
Hi TheLaughingCook,
Brokers, i use a few as to spread the risk (don't put all your eggs into one basket theory).
As for a trading approach, I use to be a fundamental trader but found after a few years I got sick and tired of researching the stocks I was trading. Now I'm purely an indicator trader and have been for years now.
The approach I take is the KISS method. Basically find out what suits your personality and develope a system that suits it.
Once you have a system that you are comfortable with put it in a trading plan (a detailed trading plan, not a waste of time one). Have it include your mission statement, your purpose for trading, what your entry and exit points are and your management rules etc.
If you want trading to be the way you make your living then don't treat it as a hobby treat it as a profession.
I don't know your level of expertise or the system that you use so it is hard to suggest a approach for you.
The people I trade with know that I'm pretty aggressive with my entries and also that I am extremely disciplined with my edge.
So without knowing your edge or personality I would suggest use trading to study yourself so that when you engage the market you'll know when to relax with it and when to be very intentional with it.
Sorry if I seem to be rambling on but I have had a long day today coaching a few friends, and at the moment designing a trading plan for them to complete.
cheers
Peaceful_Warrior