Recently I was checking out You Tube for info on day trading strategies, and came across the "Simple Day Trading Strategy" video from Markus Heitkoetter and Rockwell Trading. Now I am pretty new to day trading, especially the futures markets, and have been told these are pretty dangerous markets to trade. But, I must admit I was intrigued by the straight forward approach of the Simple Day Trading Strategy, and how it used commonly found indicators to show the direction of the market and best likely entry points.
I wanted to learn more, so I went to the Rockwell Trading website to check out some of their free material. Their website is pretty clean and uncluttered, and on the right hand side I noticed several blog postings on how to be a trader. This is a three part series and gave me some great insight on what my mindset should be; the value of setting realistic goals; risk management; and the importance of creating a trading plan.
I had never thought about approaching trading as a business. I always thought the idea was to focus on a few markets, do some research, practice a bunch of paper trades, and then go for it. It never occurred to me to ask myself what I wanted from trading, and then think about how I would go about achieving these objectives. My goal was simply to make money and to make as much as possible! I now appreciate that this approach is why so many traders fail and blow out their accounts. It is really only those that truly know what they're doing that make consistent money. They are not gamblers! They are skilled professionals that use planning, patience and discipline to trade the markets.
This was a big eye opener for me, and I thank Rockwell Trading helping me better understand what it will take for me to become a successful trader. I also know this, I have a lot of work to do before I start trading with real money, but this is a great start and I plan to check out more Rockwell Trading material to help me in this process.
For more info visit http://www.rockwelltrading.com
Rockwell Trading Keeps It Simple