“What are you trading today?”
Thats one of the most common questions I get from new traders. As a day trader, I open and close my positions on the same day, on most trading days. It doesn’t mean I have to trade everyday.
One of the biggest mistake new traders make when starting out is believing that the only way to make loads of money is by trading everyday. This is also one of the biggest reasons why almost 80% of new traders go out of business.
New traders usually think there are 2 positions you can take in a trade. To long or to short.
But experienced successful traders know there is a 3rd position. Continue reading There’s Long and Short, and a 3rd position
Information is money
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