Your Day Trading Edge
Many business executives spend hours defining their Unique Selling Propositions. This is the "edge" which make these businesses stand out in the minds of its potential customers. In day trading, you need to know your day trading edge to help you define what it is that makes you money on a CONSISTENT basis. If you think long enough, chances are that you will have at least one good traits which you then can use to define your day trading edge! You may not know your edge, however, at this time. Take some time to determine your unique qualities (like a business' Unique Selling Proposition) and use those qualities to help you define your edge.
Determine Your Day Trading Edge - Start With Personality Traits
Start with your personality traits and what makes you better than someone else:
Determine Your Day Trading Edge - More Trading-Functional Qualities
For the more "functional" ways to determine your edge, ask yourself:
These are just some ideas to get you started. Once you have defined your edge, develop day trading strategies around those traits so that you play to your strengths. While the market offers no guarantees of success, a trading style based on your strengths will increase your reassurance and confidence when trading in the markets. Hopefully these strengths will help you define your day trading edge and give you consistent profitability in the future.
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