Trading is a world in itself. There are a plethora of strategies and everyone has their own tips and little nuggets of wisdom. Our Head of Trading, Trent Primmer has put together a few of his recommendations that should help your existing approach.
1. Engage Your Trading Plan
Update your trading plan frequently to incorporate new ideas and eliminate bad ones. Review the plan whenever things don't work out as you expected. Here's a great article on building your trading plan.
2. Select a Niche Industry & Sector
To be effective and make money trading every day, you should identify an ideal niche market, which is in harmony with your natural qualities, expertise and interest. Here's a great article on finding a niche market to invest in.
The following are a few sectors that our clients function in:
- Cybersecurity: WhiteHawk (WHK)
- Green Technology: Verdant Technologies Australia (formerly Hunter Energy)
- Mining: Austar Gold (AUL), Resources & Energy Group (REZ), Norcliffe, Koch Metals
- Biotechnology: Aegros
3. Follow Your Routine
Your trading routine should comprise of: pre-market analysis; major market hours trading; end of day (EOD) hours. Never try to break your trading routine. Follow major markets and trade only during the major markets.
Here's an article on what the daily trading routine should be.
Subscribe to The Morning Report to get overnight market summaries and market-moving news from our Research team, enabling you to stay on top of markets and save time. Receive overnight equity data, research reports, top stories, companies in the press, upcoming IPO and 400+ stock recommendations.
4. Lose The Crowd
Long-term profitability requires positioning ahead of or behind the crowd, but never in the crowd because that’s where predatory strategies may target you. Keep yourself away from stock boards and chat rooms, where people are less than serious and many of them have hidden motives.
Here's an e-book on Trading Against The Crowd.
Every Tuesday afternoon we publish As Barclay Sees It, a collection of topics that catch our eye. From big market wins to industry updates and our expert opinions to explain it all. It's a great way to show what we know about the market.
5. Don’t Rely Solely on Tools
Some traders try to make up for insufficient skills with expensive software, prepackaged with all sorts of proprietary buy and sell signals. These tools can interfere with a valuable experience when you think the software is smarter than you are. Use tools that fit well with your trading plan, but remember that, ultimately, you are the one calling the shots.
Here's an article on top analysis tools for day traders.
Every week we publish our Deal Of The Week newsletter where we highlight stock opportunities we believe are worth your attention. To stay ahead of the game and be in the know, subscribe to our Deal Of The Week newsletter now.
Conclusion: Think Like a Pro
You need to act like a professional trader if you want to become one. Behaving like a professional trader does not require a lot of capital or expensive equipment. You can trade like a professional trader RIGHT now. Analyze your trading behaviour and then see how you can make the adjustments to take your trading to the next level.
"Trading with Barclay Pearce Capital ensures investors of all investment size's needs are met by our highly skilled and attentive trading professionals."
Trent Primmer, Head of Trading
Want to open a Trading Account with us? Leave your contact details in the form below and our trading team will get back to you as soon as possible!