Friday, December 10, 2010

How to Add $450 to Your Trading Account Every Week

Dear Penny Sleuther,

It doesn’t matter whether you’re an avid day trader, a swing trader, or a novice looking to learn more about microcap stocks…

There’s a good chance that you have made one or more critical trading errors that have cost you money.

Trading mistakes crush hard-earned gains — and they aren’t just a problem for newbies. Today, I’m going to show you three simple steps you can take to bulk up your trading account by $450 a week.

The truth is that even the most seasoned traders occasionally make mistakes, allowing the allure of easy money cloud their better judgment and sucker them in to an ill-advised trade. The examples we’ll look at today are taken from real-world stocks this week.

Even if you’re account is under the day-trading rule (less than $25,000) you have the opportunity to add $450 or more to your gains every single week by following these three tips:

1. Change Your Mental Stops

Every trader and investor knows when he has to sell. It’s when our paper losses grow to the point where we can’t handle it anymore. What I’m recommending is that you drastically change your level of “acceptable losses” by shortening the leash on your trades. (more)

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