Financial Gist with iska: How to get winning trades as a day trader

Every day, day traders often compete against algorithms and professional traders for profit.

And the only way to be successful as a day trader is to pursue a trading journey, not as a gambler but as a business.

You must have a plan, on how to execute each trade, and emotional discipline to operate successfully.

It is important to understand that you do not need to trade for every hour in a day as this method translates to expensive outlines.

Therefore, always wait for the right entry signals and setup before you proceed.

This means you have to know when to act and went to wait.

Do not allow greed to make you want to trade every single time of the day.

Also, do not underestimate the importance of a demo account as this is going to help you learn the ropes around trading before you finally put your money in.

So utilize stimulators and back-testing software to get your hang of everything before you start putting your money on the market.

When you trade, your emotions, ego, and mental weaknesses are spread out when you lose or win.

Therefore you should start trading with small amounts of money so that you'll be able to judge how you react to different turn-outs of events.

Developing a good strategy that gives you an edge over your trading portfolio is a good thing. And this is something you should really work on to have an edge.

This way you could have more winnings and fewer losses as you trade against other traders in the market.

If you do not have an edge you should get one because if you don't you are basically gambling and not trading.

In finality, you should have a positive expectancy model and size positioning.

This will help you survive losing and discipline yourself to trade your system with a long-term outlook.

That's all for today's financial gist with iska. Stay tuned for updates. Thanks for watching.