http://www.articlesnatch.com/profile/Markus-Heitkoetter--Rockwell-Trading/15716 Markus Heitkoetter, Rockwell Trading is an author at ArticleSnatch.com Article Directory. Below are the most recent articles from Markus Heitkoetter, Rockwell Trading. For more of articles by Markus Heitkoetter, Rockwell Trading please use the link above. http://www.articlesnatch.com/profile/Markus-Heitkoetter--Rockwell-Trading/15716 http://static.articlesnatch.com/i/logo.gif en-us http://www.articlesnatch.com/profile/Markus-Heitkoetter--Rockwell-Trading/15716 PHP/5.0.26 http://www.articlesnatch.com/Article/Day-Trading-At-The-Beach---Can-It-Get-Any-Better-/513900 Day trading attracts plenty of hype. Slick vendors want you to believe that you can trade whenever and wherever you want. You could even be on vacation and make money at the same time. They push the image of someone with a laptop on the beach, ticking off profits in between swimming, building castles with the kids, and taking romantic walks with a tanned, beautiful someone by your side. This dreamlike image is, of course, just a dream. You cannot trade at the beach. And, believe me, I have tried. I have done my best to live up to this dream of making money in luxurious leisure. But there are some serious problems with that image of the laptop at the beach. Three serious problems in fact. First, the beach is a sunny place. Of course, you’re saying; that’s why it ought to be a wonderful place to do business! But anyone who has taken their computer outside knows that the sun makes it impossible to see the screen. Add to that the problem that my eyes are light sensitive, which means I have to wear sunglasses (which are also necessary beach wear). **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller Day trading (www.rockwelltrading.com) and a professional day trading coach. For more free information on day trading visit his website www.rockwelltrading.com. Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/Day-Trading-At-The-Beach---Can-It-Get-Any-Better-/513900 http://www.articlesnatch.com/Article/The-Art-of-Growing-A-Day-Trading-Account/513894 One of my day trading students told me he was disappointed. He has been trading $10,000 for six weeks, but realized only $600 in profits. He told me that he was considering getting out of day trading because he thought he could make much, much more. After all, $600 in six weeks is only $100 a week, just a fraction of the money he set aside to invest. He could work as a fast food clerk and make more money, so, he thought, why bother with such an inefficient form of income? I told him he was dead wrong. When it comes to day trading, consistency is more important than the dollar amount of your profits at any given time. This trader was already making a fortune, but he didn’t know it. In fact, he was already an incredibly successful day trader, and I told him that I could likely learn something from him. All he needed to do was recognize that he was making consistent profits, determine where that consistency came from, and then apply those sound money management strategies to achieve stellar results. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/The-Art-of-Growing-A-Day-Trading-Account/513894 http://www.articlesnatch.com/Article/The-High-Cost-of--Free-/513888 Who knew that free” really meant expensive”? That may seem like a contradiction, but day traders can easily find themselves in a situation where it turns out to be true. I teach a number of strategies that require software that displays tick charts. However I often have students who tell me that they use such-and-such piece of software that will not display them. But they refuse to change because the software they are using was free. Since many people try day trading as a supplement to their regular income, they do not often want to invest in it before showing a profit. But there is a problem with this line of thinking. Why does it seem so unreasonable for people to spend around $100 on a piece of decent charting software when they hope to make thousands of dollars from it each month? On the one hand, this attitude is wrong because the software you use is not simply a tool. It is an investment which should pay for itself multiple times over. But there is a larger problem with this attitude of not wanting to invest in a commitment to day trading. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/The-High-Cost-of--Free-/513888 http://www.articlesnatch.com/Article/The--700-Billion-Bailout-Plan---A-Good-Idea-/513884 We have all heard plenty of talk, both positive and negative, about the $700 billion bailout plan, and there are now rumors of similar plans in the works. The discussion dominated the recent election, and it continues to be a primary concern both on Wall Street” and Main Street.” Many people who have never concerned themselves with high level economic issues are finding themselves writing, or being solicited to write, letters to their congressmen and women in support of or opposition to the plan. But with this high level financial decision and high level of potential effect on individual taxes, it is important for those of us who do not spend our days reading about the Secretary of the Treasury to know what is involved with this plan. Many people continue to wonder if investing $700 billion to rescue the U.S. financial system, and as a result the U.S. economy, is really a good idea. A little perspective helps us see what is really involved with this plan. $700 billion is of course a huge amount of money. But in 2008 alone, the U.S. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/The--700-Billion-Bailout-Plan---A-Good-Idea-/513884 http://www.articlesnatch.com/Article/Should-You-Let-Your-Profits-Run-/513878 Knowing when to accept your profits is key to successful day trading. However, many people often think that you can earn more by letting your profits run. This strategy almost always fails, and it is why I find that setting profit targets is one of the few ways to guarantee that you turn a market gain into a monetary gain. The main principle behind using profit targets is that it helps you to control your emotions. When people exit a trade, they are usually too early or too late. Most people cannot pick tops and bottoms, or at least not consistently. What often happens, then, is that people get out too early, see the market continue to move in their direction, and feel tempted to re-enter. They often grow angry at themselves for leaving too early and want revenge. So they enter again. But now, of course, it is too late, and the trend is already exhausted. As soon as they enter, prices move against them, and they realize a loss. In this situation, regret, revenge, and greed take over and end up costing someone money. But the same thing can happen when people get out too late. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/Should-You-Let-Your-Profits-Run-/513878 http://www.articlesnatch.com/Article/How-Many-Markets-Should-You-Trade-/513869 Too often, I hear from traders who insist that they "specialize" in a single market. Although they may feel a sense of comfort and even mastery by trading exclusively in one market, this kind of approach is a serious mistake. As day traders, we are interested in profitable markets. But what defines a profitable market has nothing to do with the kind of market it is; rather, it depends on how it is trending. Consequently, a successful trader should commit him or herself to trading trending markets, no matter what they are. By limiting yourself to only one market, you limit your chances to profit. There are times when a market is trending and easy to trade, but there are times when markets are just moving sideways. The more markets you watch, the more opportunities you get to locate a trend each and every day. As I like to say, "Finding good trades means de-selecting the bad trades," but you can only stay away from bad trades by having a number of sources of good trades. You can see the problem with only trading a single market with the following analogy. Let's say that you want some ice cream. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/How-Many-Markets-Should-You-Trade-/513869 http://www.articlesnatch.com/Article/The-Power-of-Day-Trading-with-Weekly-Profit-Goals/513860 I insist on the power of weekly profit goals in my Day Trading Coaching Program. I help my students determine a goal for each week that is at once attractive and realistic. I insist that sticking with this goal should be a hard and fast rule. So, no matter how confident, or lucky, they may feel, I tell students that the only way to guarantee long term success is to stop trading once they achieve their goal. They should wait until the next week to start trading again, even if they have a hunch that the market will stay in their favor. This is a difficult habit to maintain. The reason behind my advice is that consistent gains will always outperform your "hunches" over the long run. But, at first, almost every student finds it to be unintuitive. After all, they think, why should I stop trading when I am ahead? If I keep trading, won't I make more money? The answer is that, no, on average you will not make more money. In fact, by not sticking to a target goal each week, you drastically increase your chances of losing money, not simply diminishing your profits. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/The-Power-of-Day-Trading-with-Weekly-Profit-Goals/513860 http://www.articlesnatch.com/Article/Are-Things-as-Bad-as-They-Seem-/513851 We have seen a number of dark days for stock markets all around the world in the past months. But how frightened should we be? Is the next Great Depression upon us? How can we distinguish a small crisis from a huge one? One way to deal with these questions and to calm our feelings of panic is to look closely at a single bad day. When we do that, the details can show us that the bigger picture may not be as bad as we fear, and, hopefully, quell our feelings of panic. Let’s look back at September 29. On that day, the Dow Jones Industrial Average fell 7% and the S&P dropped by 8.8%. The Dow’s declines were the largest since the 9/11 attacks, and the S&P had its worst day since Black Monday in 1987. Media headlines included comparisons to the Crash of 1929” and even The Great Depression,” but, in spite of all of this, were things really as bad as they seemed? The first thing to do when we have a horrible day like this is to look at as many of the details as you can. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/Are-Things-as-Bad-as-They-Seem-/513851 http://www.articlesnatch.com/Article/A-Day-Trading-Strategy-with-a-90--Winning-Percentage-/513846 Day traders cannot avoid losses. If anyone tries to sell you a system that has no losses, or even as little as 10% losses, you can be sure that they are unreliable. The fact is that traders engage in a very risky endeavor, and, even with the best plans, the markets will do unpredictable things. One point to be careful of when researching strategies is the idea of a winning percentage.” Many day trading programs will tell you that they have a winning percentage of over 90%. This sounds wonderful, of course, but what does it really mean? Does it mean that they profit from 90% of their trades? Does it mean that they always profit with an additional 90% of what they put in? By itself, this statistic tells you nothing. You can get away with making your winning percentage sound better than it really is. In day trading, your winning percentage” is a function of the ratio between your stop loss and your profit target. If you increase your stop loss and decrease your profit target, your winning percentage will go up. **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/A-Day-Trading-Strategy-with-a-90--Winning-Percentage-/513846 http://www.articlesnatch.com/Article/Day-Trading-and-Pivot-Points/513837 I am frequently asked how to use pivot points in day trading. They can certainly be useful tools, but, by themselves, they are not a real trading system or strategy. If you know how to calculate pivot points, however, they can be a helpful source of information. Pivot points are most commonly used to determine support and resistance levels, which are the prices at which trends will tend to reverse direction. The support level indicates where the price will likely find support” as it goes down and start to turn back up again. The resistance level is the opposite: the price where a trend tends to stop rising and start dropping. When it comes to actually using pivot points, most traders refer to the "5-point-system." This system uses the previous day's high (H), low (L) and close (C), along with two support levels (S1 and S2) and two resistance levels (R1 and R2). **End Summary** Topics: Day trading]]> day trading coach.]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the international bestseller "The Complete Guide To <a href="http://www.rockwelltrading.com">Day Trading</a> " and a professional day trading coach. For more free information on day trading visit his website <a href="http://www.rockwelltrading.com">http://www.rockwelltrading.com</a> Sat, 14 Feb 2009 00:00:00 -0500 http://www.articlesnatch.com/Article/Day-Trading-and-Pivot-Points/513837 http://www.articlesnatch.com/Article/The-Problem-with-Predictions/417616 Investors often look to experts and experienced traders for their predictions on how the market will trend. For example, I am often asked to predict where the Down Jones Index will be at any given time. The truth is, I have no idea how to answer these questions. Predictions on the market are like throwing a dart. Most traders would be thrilled if they could predict where the Dow will be just minutes from now, and, as the recent extreme fluctuations prove, no one knows when huge movements will occur. What many day traders need to remember, however, is that successful trading does not require predictions. It requires a system to deal with the markets no matter what direction they are trending. I always tell traders the same thing: keep it simple! There are three simple rules to remember when trading that are better than any expertâ€'s prediction. First, buy when the market is going up, and sell when it is going down. I know this sounds overly simple, but too many investors forget to follow this very obvious advice. They may fall for concepts like Dollar Cost Averaging” where you actually buy a stock even though it is falling. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/The-Problem-with-Predictions/417616 http://www.articlesnatch.com/Article/Warren-Buffet-is-Not-a-Day-Trader/417606 Day traders often seek out stories of people who have had amazing success in the markets for guidance. They flock to biographies of financial celebrities hoping to gain insight and tips to get an edge on their own careers. One such celebrity, Warren Buffet, is often seen as a role model, and a recently released book on him, The Snowball: Warren Buffet and the Business of Life, will no doubt increase his influence. But while Buffet has plenty to teach us about investing, his lessons are less applicable to day traders because of the kind of investing strategies that he uses. Iâ€'m not at all discounting Buffetâ€'s success, but I do want to stress that traders need to understand the difference between the strategies that will work for them and Buffetâ€'s kind of investing. Warren Buffet is, of course, a legend. Before he gave almost his entire fortune to charity, he was the richest man in the entire world. In 1962, when he began buying stock in Berkshire Hathaway, a single share cost $7.50. Today, Buffet is Berkshireâ€' chairman and CEO, and one Class A” stock is worth more than $118,000. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/Warren-Buffet-is-Not-a-Day-Trader/417606 http://www.articlesnatch.com/Article/The-Difference-Between-Day-Trading-and-Gambling/417585 I have often said that day trading is fundamentally different from gambling, or at least successful day trading is. A successful trader controls his risk with a thoughtful and well-tested strategy, not intuition; but a gambler depends on luck. Most types of gambling are pure luck, such as roulette or slot machines. But blackjack is a game in which, with a good system, you can have an edge or at least thatâ€'s what Iâ€'ve heard. I thought it might be interesting to apply my trading techniques to blackjack to see if I could gain an edge, which means simply developing a strategy that is consistently profitable. If I could do that, perhaps Iâ€'ve been wrong about gambling, and maybe it has more in common with trading than I thought. This is the story of my experiment and evidence that I was right all along about the vast difference between gambling and day trading. I started by approaching blackjack the same way I teach novice day traders to approach the market: systematically. I teach them to learn the rules, find a decent strategy, test that strategy, evaluate the results, and then improve the strategy. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/The-Difference-Between-Day-Trading-and-Gambling/417585 http://www.articlesnatch.com/Article/The-Difference-Between-Fundamental-and-Technical-Analysts/417581 I am a day trader, and yet people sometimes ask me questions about the market that go beyond my area of expertise. They assume that since I am successful at one aspect of the market, I should have insight into questions of national and international economics, particularly as it relates to large scale political events. The fact is that day trading does not require any specialized insight into these issues. But since many people often assume that success in one economic arena implies knowledge of any and all other economics topics, it is important to distinguish the difference between a day traderâ€'s expertise as an analyst and that of other economists. When you do, you will also understand that there are different ways to interpret and act on the market, and I would like to explain why I find my own area of expertise particularly useful. To put it briefly, there are two kinds of financial analysts: a fundamental analyst and a technical analyst. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/The-Difference-Between-Fundamental-and-Technical-Analysts/417581 http://www.articlesnatch.com/Article/How-To-Develop-Trading-Strategies/417577 People who want to profit from the market often ask experienced traders how they come up with their trading strategies. Newcomers are often overwhelmed by the amount of available data and are a bit mystified about how to navigate through it. But, even more often, they want to know how to develop a strategy that works consistently, and they expect to find secrets” that brings them a stable profit. As I tell them, however, there is no crystal ball, no magical insight to be had on the market. Instead, I like to share with them three proven rules and habits that allow me to test my strategies and determine which to continue using. My three rules are actually quite simple: 1. Learn to identify the direction of the market and follow it; that means that you buy when the market is going up and sell when the market is going down. 2. Always know when to exit a trade; specifically, remember to always place a stop loss and a profit target after entering a trade. 3. If you are using a trend-following strategy, find a trending market. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/How-To-Develop-Trading-Strategies/417577 http://www.articlesnatch.com/Article/What-You-Should-Know-About-Forex-Trading-/417571 Recently, Forex trading has become extremely popular. However, many people who are interested in Forex trading have little idea what it involves. They are often attracted to this type of trading based on its popularity and the belief that, because others are using it, it must be profitable. This is not always the case. Forex trading is most useful for larger companies rather than independent day traders. Still, if you want to get involved with Forex trading, you should understand how it works, and, more importantly, how it is different from the kind of trading most day traders do. The first aspect of Forex trading involves interest rates. If you are trading the EUR-USD, for example, then you are buying the Euro currency and selling the US Dollar. In Forex trading, accounts are settled every day at 5:00pm ET, and at this time you earn interest rates on the currency that you bought and pay interest rates on the currency that you sold. Hereâ€'s a useful example. Currently the European Central Bank (ECB) has set its interest rates at 4.25% while the Federal Open Market Committee (FOMC, part of the Fed) offers only 2%. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/What-You-Should-Know-About-Forex-Trading-/417571 http://www.articlesnatch.com/Article/The-Holy-Grail-of-Day-Trading/417557 Sometimes, searching for the perfect strategy can lead to more losses than gains. This is what happens to traders who search for what I call the Holy Grail of Day Trading.” This is loosely interpreted as a trading system or strategy that cannot fail. As I hope to convince you, looking for it will lead to frustration rather than success. But, first, I should explain why I consider it the Holy Grail.” In Christian mythology, the Holy Grail is the dish or plate that Jesus used at the Last Supper. It is said that Jesus' blood during his crucifixion was caught in this vessel, bestowing it with miraculous powers. The search for this cup became the principle quest for the Knights of King Arthur who sought it to prove that they were the greatest knights in the world. But it was also the subject of the movie "Monty Python and the Holy Grail,” in which it turns out that the Holy Grail is just an ordinary cup that only foolish, pathetic knights actually seek. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/The-Holy-Grail-of-Day-Trading/417557 http://www.articlesnatch.com/Article/A-Must-See-Movie-for-All-Day-Traders/417541 The movie 21 has some fantastic lessons for day traders. Although the movie is technically about gambling, its most important lesson is about how to avoid the riskiest parts of gambling and, consequently, how to avoid losing what you risk. Day trading certainly involves risk, but is also most challenging when it takes on the worst aspects of gambling. The movie was inspired by the true story of MIT students who mastered the art of card counting and who took Vegas casinos for millions in winnings. The main character of this movie, Ben Campbell, needs a way to pay for tuition at Harvard Medical School. His brilliant statistics professor, played by Kevin Spacey, reveals a plot in which he and some of the most gifted MIT students try to bust Las Vegas by counting cards at the blackjack table. After some initial hesitation Ben decides to join the crew. In a key scene, Mickey, the statistics professor, asks Ben: "Are you in?" Ben answers: "Yes, I am in." Then Mickey looks Ben straight in the eyes and says: "There's one more thing, Ben, and this is important: We're counting cards; we're not gambling. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/A-Must-See-Movie-for-All-Day-Traders/417541 http://www.articlesnatch.com/Article/What-Day-Traders-Can-Learn-From-Sesame-Street/417537 I wake up at 7:00am in the morning, and I rarely expect to learn a new lesson in day trading before heading to the office. This morning, however, was different. I often join my kids in the living room watching Sesame Street, and, today, while sitting on the couch with my coffee trying to wake up, I was greeted with a bit of wisdom that all day traders should keep in mind: a lesson about the value of practice and persistence. On the show, a young boy was trying to learn how to skate, but after 2-3 faltering strides, he falls down. Instead of crying or giving up, the boy maintains a positive attitude and says, "Practicing tomorrow I'll be better than today." The next day, he manages to take 3-4 strides before falling down, saying once again: "Practicing tomorrow I'll be better than today." The boy practices every day, and each day he manages to take a few more steps. Finally, one day he stays on his feet the enter time, and even shows off a bit, proving that he can skate like a seasoned professional. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/What-Day-Traders-Can-Learn-From-Sesame-Street/417537 http://www.articlesnatch.com/Article/Day-Trading-and-Net-Operating-Losses/417528 Our goal as day traders is to make money, not to lose it. However, when we do have losses, and we all will no matter how successful we usually are, there are ways to make those losses less costly. One way is simply to learn from the knowledge we gain from an error or a losing strategy. But there is another, more concrete way to soften the blow from trading losses, and its something every trader needs to know about come tax time: Net Operating Losses. In its simplest form, the concept of net operating losses is a part of the tax code that allows you to deduct your businesses expenses, including trading losses, from your income. Specifically, net operating losses are comprised of your ordinary trading losses and trading business expenses, like coaching tuitions, software and data subscriptions, books and magazine subscriptions and many more. You can claim a net operating loss any time you can show that tax-deductible losses exceeded taxable income for a given year. The reasoning behind this part of the tax code is that, if you are taxed during a profitable period without getting any tax relief (e.g. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href="http://www.rockwelltrading.com">Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 10 Nov 2008 00:00:00 -0500 http://www.articlesnatch.com/Article/Day-Trading-and-Net-Operating-Losses/417528 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--7-Controlling-Negative-Emotions/388487 In order to develop the right mindset, to have a trader’s psyche, you need to know what to expect when day trading. You must be prepared for a variety of emotions so that you can monitor them instead of letting them control you. Only by staying on top of your emotions can you stay focused on the key to successful day trading: maintaining a consistently profitable long-term strategy in the middle of many smaller short-term wins and losses, even when these short-term outcomes seem overly distracting. To keep that focus, develop the traits of a trader’s psyche in yourself. Successful traders do not allow negative emotions to affect their decision-making. Trading is a stressful process, and you will experience many setbacks. Expect them, however, and don’t see losses as indications that you will never succeed. Instead, be prepared to identify your negative reactions and act on them in positive ways. Successful traders turn fear into gain. They realize that losses are a part of their business, and they expect them. But while they know that some trades will cost them money, they let those same trades become a gain in knowledge. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href=" http://www.rockwelltrading.com"> Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 29 Sep 2008 00:00:00 -0400 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--7-Controlling-Negative-Emotions/388487 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--6-Paying-Attention-to-Your-Mindset/388484 In order to develop the right mindset, to have a trader’s psyche, you need to know what to expect when day trading. You must be prepared for a variety of emotions so that you can monitor them instead of letting them control you. Only by staying on top of your emotions can you stay focused on the key to successful day trading: maintaining a consistently profitable long-term strategy in the middle of many smaller short-term wins and losses, even when these short-term outcomes seem overly distracting. To keep that focus, develop the traits of a trader’s psyche in yourself. Successful traders pay attention to their emotions. They try to keep a distanced, critical eye on how they are reacting to the market in order to control their emotions instead of being controlled by them. This helps them stay cool, calm, and focused on their long-term goals instead of getting overly afraid or excited about the trades they are paying attention to at any given moment. Furthermore, successful traders know what type of trader they are. They don’t force themselves to trade with methods or strategies that do not fit their personality. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href=" http://www.rockwelltrading.com"> Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 29 Sep 2008 00:00:00 -0400 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--6-Paying-Attention-to-Your-Mindset/388484 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--5-Recognizing-That-Success-Means-Consistency/388481 In order to develop the right mindset, to have a trader’s psyche, you need to know what to expect when day trading. You must be prepared for a variety of emotions so that you can monitor them instead of letting them control you. Only by staying on top of your emotions can you stay focused on the key to successful day trading: maintaining a consistently profitable long-term strategy in the middle of many smaller short-term wins and losses, even when these short-term outcomes seem overly distracting. To keep that focus, develop the traits of a trader’s psyche in yourself. Successful traders know that success means consistency more than it means immediate profits. Of course traders want to make money, but to do that consistently, you may have to learn by dealing with setbacks and unimpressive gains. The trick is not only to make money off of trades but to learn WHY you made that money. And if you simply get lucky now and then, you haven’t learned anything you can turn into a consistent strategy of success over a career, or even a lifetime, of day trading. That’s why successful traders bank on consistent profits. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href=" http://www.rockwelltrading.com"> Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 29 Sep 2008 00:00:00 -0400 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--5-Recognizing-That-Success-Means-Consistency/388481 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--4-Finding-the-Ability-to-Adapt/388479 In order to develop the right mindset, to have a trader’s psyche, you need to know what to expect when day trading. You must be prepared for a variety of emotions so that you can monitor them instead of letting them control you. Only by staying on top of your emotions can you stay focused on the key to successful day trading: maintaining a consistently profitable long-term strategy in the middle of many smaller short-term wins and losses, even when these short-term outcomes seem overly distracting. To keep that focus, develop the traits of a trader’s psyche in yourself. Successful traders realize that nothing is 100% foolproof. They trust in their indicators, but they are aware of other factors that may influence their trades. Consequently, they stay open to new ideas, to other people’s experiences, and to experimentation. Since your goal as a trader is to constantly revise your strategy to be more consistently profitable, you must always think of your plan as a work in progress. Every win and every loss gives you more data to revise your techniques. But you should never think of yourself as having found the one and only way to trade. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href=" http://www.rockwelltrading.com"> Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 29 Sep 2008 00:00:00 -0400 http://www.articlesnatch.com/Article/The-Key-Essentials-to-a-Trader---s-Psyche--4-Finding-the-Ability-to-Adapt/388479 http://www.articlesnatch.com/Article/Fatal-Day-Trading-Mistake--5---Lack-of-a-Trading-Strategy/388478 If you know the pitfalls of trad¬ing, you can easily avoid them. Small mistakes are inevitable, such as entering the wrong stock symbol or incorrectly setting a buy level. But these are forgivable, and, with luck, even profitable. What you have to avoid, however, are the mistakes due to bad judgment rather than simple errors. These are the “deadly” mistakes which ruin entire trading careers instead of just one or two trades. To avoid these pitfalls, you have to watch yourself closely and stay diligent. Think of trading mistakes like driving a car on icy roads: if you know that driving on ice is dangerous, you can avoid traveling in a sleet storm. But if you don’t know about the dangers of ice, you might drive as if there were no threat, only realizing your mistake once you’re already off the road. Although trading involves risk, never treat it like gambling. You must have a solid trading strategy, one which you plan, test, and revise repeatedly. You need to stick to this strategy, and never act on spur-of-the-moment decisions. **End Summary** Topics: Day trading]]> day trading coach]]>]]> About the Author: ]]> Markus Heitkoetter is the author of the internation bestseller " <a href=" http://www.rockwelltrading.com"> Day trading</a> " and a professional <a href="http://www.rockwelltrading.com">day trading coach</a> . For more free information on day trading visit his website www.rockwelltrading.com. Mon, 29 Sep 2008 00:00:00 -0400 http://www.articlesnatch.com/Article/Fatal-Day-Trading-Mistake--5---Lack-of-a-Trading-Strategy/388478