You can create and write custom formulas. Once the custom script is installed, it can be used as an indicator for reversals and drawing support/resistance lines. eSiganl also runs smoothly, allowing you to load charts on numerous monitors without any lag.

 

 

Additionally, our financial media and social integrations allow you to instantly connect with informed and experienced traders. For example, bouncing ideas from other traders can be an effective way to hone an advanced trade trading strategy.

 

Ninja Trader

If you are looking for an inside track, NinjaTrader charting software is one of your relatively unknown trading secrets. NinjaTrader provides everything from order entry to execution. What separates it from the rest, however, is its customizability. Not to mention third-party library integrations that make over 300 add-on products compatible.

So, with over 100 technical indicators and advanced charting capabilities, you can interpret and respond to market data better than any other market.

The only downside is that unlike many of the secrets above, NinjaTrader is not free. But it’s a reasonable choice nonetheless.

4. Practice makes perfect

It takes more than knowledge to benefit from price movements throughout the day. It also takes practice. Too many people lose their hard earned money on the best early mistakes in demo accounts. As such, these working accounts are the perfect place to familiarize yourself with market conditions and hone your strategy.

In fact, one of the best secrets to trading success is to first run your forecasting strategy through a simulator account. Funding with virtual currency allows you to identify flaws and refine your skills until you generate consistent returns. You can then apply it to your live account.

But a demo account alone isn’t one of the best insider trading secrets. The secret is using an Oanda practice account.

Signing up is quick and easy. There are no fees and you can use it for unlimited hours. This way, you don’t have to risk your own capital until you feel confident. You can also choose from the popular MetaTrader 4 platform or our own proprietary platform. You can also access a demo account through the mobile app.

However, one of its biggest selling points is access to ‘Autochartist’, an advanced automatic charting feature. This allows you to strategize and improve using highly sophisticated tools and technical analysis.

This means that all Oanda demo accounts should be marked daily in Trade Secrets Revealing PDFs.

5. Business Diary Secret

Too many traders sit with interest in quantity and forget to look at the quality of their trades. Ignoring the need to figure out why and why they are going wrong. This is why I keep a journal with TradeBench upwards from the secrets of trading stocks or other commodities throughout the day.

TradeBench is a completely free online trading journal. You can plan your trades, position sizes, and it comes with risk management software. Most importantly, keep detailed records of your previous transactions, including:

  • Entrance
  • Trade Data
  • Open/close time
  • Position size
  • Profit / Loss

This makes it easy to look back and identify flaws in your strategy. Others may make the same mistakes over and over again, but continue to improve.

So if you open your trade secrets PDF all day, journal with TradeBench, it should feature high on your list.

 

 

6. Stay Neutral

It’s barely lunchtime and you’ve lost $500 on a trade. Now you are questioning your carefully thought out plans. On the other hand, when you’ve risen significantly, holding that winning position feels like the right thing to do regardless of your strategy.

However, successful trader Victor Sperandeo rightly argued: “The key to successful trading is emotional discipline. If intelligence is key, more people make money.” However, developing monk-like discipline isn’t one of the 15 secrets to day trading success. The secret is knowing how to develop that emotional discipline.

To do this, you need to take a balanced approach and follow all the steps below.

10 Steps to Mental Success

  1. Stops – Stops must be respected. They force you to take your time and focus on where and why you went wrong.
  2. Consistency – You have to explain your strategy at the beginning and stick to it after that. Trust research and data.
  3. Start small – focus on winning big and forget the importance of following a pattern. Taking smaller positions in the long run will give you greater control. You can then gradually increase the position size as your confidence grows.
  4. Lifestyle – You need to find a plan that fits your lifestyle. Looking at 50 charts when you only have 5 hours can waste time and stress. Instead, focus on a few very good opportunities.
  5. Noise Reduction – Massive amounts of microdata are not too easily accessible. Take a moment to breathe and focus your energy on the most important picture.
  6. Realistic goals – This is one of the best trading secrets. Unrealistic profit targets will quickly lead to reckless decision making. So set small, realistic goals. Especially start.
  7. Loss Reduction – When threatened with a large loss, it is essential to get on autopilot and get out. So be mentally prepared and visualize an emergency exit. As Bruce Kovner emphasized, “If you personalize your losses, you cannot trade them.”
  8. Learn from the Best – Pick up a book on training development. Disciplined Trader by Mark Douglas is a good place to start.
  9. Believe in yourself – chat rooms and forums can be useful, but try not to be overly influenced by them. Spend too much time on them and they will quickly doubt your strategies when your capital is online.
  10. The Whole Look – Break bad habits and practice building to empower you in all aspects of your life. This will allow you to remain neutral when trading will be much easier.

7. Automated

Having a consistently effective strategy can improve your bottom line through automation. Because you can only do a certain number of trades manually each day. Algorithms can execute many trades as soon as predetermined criteria are met.

When it comes to automation, AlgoTrader is one of the best kept secrets. Designed by industry experts, it gives you maximum control of your fact-based, high-speed automation system.

The system is very fast and handles up to 500,000 events per second. The open-source architecture allows for significant customization. Third-party libraries can be integrated, and built-in features help reduce costs and increase profit margins.

Built-in features include but are not limited to:

  • Execution Algorithm
  • Options Pricing Engine
  • Download historical data
  • Excel based backtesting report
  • Automated parameter optimization

Its reliability, support and versatility set it apart from many products on the market today. This means that if we have 15 days of trading secrets, AlgoTrader will be the best.

For more information, see our Auto Trading and AlgoTrader pages.

Final Words on Secrets

Even with the above daily trading secrets, making consistent profits is not an easy task. Some tools work well for some, while others may not do any better. The trick is to find the daily trading secrets listed above that complement your individual trading style.

Further reading

Books

  • “Trading Secrets of the Day”, Harvey Walsh
  • “Daily Exposed Deals: Secrets of an Exposed Expert”, Joe DiChristophoro
  • “Secrets of the Electronic Day Trader: Learning from the Best Day Traders”, Marc Friedfertig, George West, Jonathan Burton