Day Trading: THE Most Important But Overlooked Secret…

Truly successful day trading is dependent on ONE often overlooked factor. Strangely, it's NOT the specific market you choose to trade; be it forex, stocks, bond futures, options or any combination of these. It is NOT the time-frame, i.e. day trading vs. long-term investment. It definitely is NOT how much capital you have got in your broker account. And, strangely enough, it's NOT even how reliable your trading information is, whether technical charting or economic fundamentals, or some combination of the two.

Admittedly, these all play their part in your trading success. That is for certain. Nevertheless, this ONE factor is what my friend, the late Robert Krausz (who was featured in Jack Schwager’s “New Market Wizards” book) repeatedly insisted was responsible for fully 70% or more of a trader’s profitability. What is that factor?… It is Psychology!

Now, on the face of it, this may seem pretty bizarre. Surely, you will argue, if I've got a fixed rules trading system, how the heck could my psychology have anything to do with it?! If you trade primarily through in-depth technical analysis charting, surely your day trading success is dependent upon THAT, not upon something as vague as your "psychological mindset"?

This is NOT the case. In fact, in day trading your psychology is so important that it virtually overrides everything else…

Read the rest of this article and listen to the day trading podcast. Just click the link.