best ways to make money trading
TRANSCRIPT
Best Ways to Make Money Trading
By www.ProfitableTradingTips.com
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
What are the best ways to make
money trading?
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
The first is to pick something that you
know about.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
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Before We Continue…
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
The second is to develop a strategy.
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The third of our best ways to make
money trading is to develop the skill
set needed to buy and sell profitably in
a volatile market.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
What Do You Know About?
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
If you work in the health care industry
you probably know about
pharmaceuticals and devices used to
treat ill people.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
If you work in import and export you
know about currencies and how their
values fluctuate.
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If you work in the auto, transportation
or restaurant industries you know
about the products and services
unique to that sector.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Pick what you know about as the first
of our best ways to make money
trading.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
What Is Your Approach Going
to Be?
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
If you have a sound appreciation of
the fundamentals that drive stock
prices in a given sector your stock
trading strategy will likely be swing
trading.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Swing trading is when you buy and
sell a few day, weeks or months apart
to take advantage of market changes
based on movement of fundamentals.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Another approach is to trade the daily
fluctuations in the market which
commonly requires technical analysis
of market price patterns.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
In this case you do not care so much
about fundamentals as the herd
mentality of the market.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Learning How
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Learning how to day trade is one of
the best ways to make money trading.
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In point of fact markets repeat
themselves.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
You can trade currencies in the Forex
market, stocks on the NYSE or
commodity futures on the COMEX.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
In each case there will be market
events that will drive prices up and
down in specific patterns.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Technical traders know that these
specific signals lead to specific end
results.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Traders learn specific signals, practice
them in simulation trading and use
them in trading stocks, commodities or
currencies that they know.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Technical cues such as Japanese
Candlestick signals are accurate in
various time frames from minutes to
hours to days to weeks.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
However, the best way to make
money trading with technical signals is
to stick to one time frame and typically
to use your knowledge of
fundamentals to verify the results of
your technical analysis.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Volatility Is Your Friend
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Markets are eventually efficient. That
is to say, fundamentals will eventually
set prices of stocks, commodities and
currencies.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
However, in the short term markets
are inefficient and this is where profit
lies in trading.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
The last of our best ways to make
money trading is to look for volatile
markets.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Ideally you are doing this in a stock,
currency pair or commodity that you
are familiar with.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Long term investors use the concept
of intrinsic value to determine if a
stock will prosper over months and
years.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Technical traders use statistically
derived signals to predict very short
term market moves.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
In either case profits are best in
markets that are inefficient and
volatile.
http://profitabletradingtips.com/trading-investing/best-ways-to-make-money-trading
Those who are the best prepared and
possess the highest skill set tend to
be the winners.