Be A Balanced Trader

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Good Morning All:

Since its very first edition, The Trading the Pristine Method seminar has strongly advised traders always to maintain two separate and distinct accounts with different purposes. One of those accounts should be for income producing, for traders who look to make daily profit by using intraday and short-term overnight strategies. The other account is known as "wealth building" and is devoted to the longer-term plays that may last anywhere from two days to many months. What distinguishes a wealth building account from the old-fashioned "investment account" is that A Pristine Trained Trader will always be managing the account on some timeframe. There is no such thing as a "buy and hold" strategy.

Be a Balanced Trader

There are several advantages to maintaining this mentality of having two separate accounts.

1. During very strong bull and bear markets, the real money can be made in the wealth building account. Very fast moves that often occur due to stocks gapping overnight cannot be captured well by intraday traders. These moves all help build the wealth builders portfolio.

2. Not only is it difficult to capture these moves on an intraday basis, but traders may find themselves trying to force trades because they feel they have missed the move that day, and need to be a part of it. This can lead to a difficult trading day if the market gapped up a large amount (giving the day trader no profit whatsoever) and then continue sideways for the day with very little additional movement.

3. Many traders often have a difficult time managing properly on an intraday basis due to a lack of patience or a proper plan. Often times these very same traders are able to find patience and develop a proper plan, and therefore manage properly, in a wealth building account. There is something about having a separate account with long-term expectations that lets traders manage without interfering with the trade. This also teaches good management for the intraday time frames.

Closing Comments:

Pristine has a new course available that is right on topic with this discussion. It is the long awaited Trading the Pristine Method for Your IRA. I will be teaching this class this coming weekend. If you are new to Pristine this is an excellent class to take if you have primarily a long-term wealth building perspective. If you have already taken Trading the Pristine Method, this may be in excellent class to review the Pristine method as it applies to the wealth building timeframe. There is also a significant discount for Trading the Pristine Method students.

Paul Lange
Vice President of Services
Pristine Capital Holdings, Inc.

About the Author:
Pristine.com is the worlds elite trading school and provides the best day trading courses and online day trading seminars using proven online day trading strategies



Article Originally Published On: http://www.articlesnatch.com


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