Keys to Successful Day Trading.Part2

Keys to Successful Day Trading

By Toni Hansen and Brandon Fredrickson

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The ability to adjust to changing market circumstances is just one of the traits of a successful trader. In truth though, there are quite a few. Something that I've found helpful is taking the time to look at other successful traders and trying to identify characteristics that may have contributed to their success. In addition to being able to adapt there are about 8 more things I have observed which include the following:

1. They stay neutral;

2. They have a business plan;

3. They keep a journal;

4. They focus on 1 to 3 techniques that suit them well;

5. They are great money managers;

6. They are comfortable with risk and uncertainty;

7. They accept personal responsibility for all of their trading action; and

8. They use risk capital to trade.