Rickey says to practice

...continued from yesterday...

This continues a discussion about The Trading Edge: How To Trade Like A Winner (Wiley Trading)

Rickey describes three steps to becoming a winning trader:

1. Find a trading edge: observe what occurs concurrent with price movement and observe price patterns. You only need a pen and a notebook. Write down why you entered a trade, why you got out, why you think your indicator works or did not work. Then review your notes on the weekend.

2. Convert the edge to a trading system: simple systems work best.

3. Practice.

...cont'd tomorrow...

Copyright 2007 Raymond T. Lee. All rights reserved.
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