Trading Tips No 7: Developing a Casino Mentality for the Day Trader

I submit that the successful day trader would profit well to adopt a casino mentality. At first glance, this sounds reckless and nothing more than a gambling attitude - but it's not. Why? Because everyone knows that it's the casinos that profit and take in all the money on a consistent basis. And, of course, the patrons end up losing even after brief winning streaks.

If you want to profit in the market, ask yourself this question:

1. What do successful day traders and casinos have in common?

As a day trader, what if you were the casino - that is, on the winning profiting side. You could expect to profit consistently. You would be unperturbed by an occasional drawdown (like the casinos when someone hits the jackpot), because you know that you potentially will make it back and more.*

This is what successful day traders and casinos have in common; they both have a winning system that clearly puts the odds in their favor. The more they "play" or stick with the profit system of their choice, the more likely a positive outcome. It's only a matter of time, because the odds are in their favor.*

By thinking like the casino and not the hapless gambler, getting on the right side of the table, putting the odds in your favor, and working the system, the day trader can tap into the same phenomena that built Las Vegas and run away with a killer profit.*

If you would like to learn more about becoming a day trader and you have a computer and a burning desire to seize success, then you have what it takes to personally unearth Bill's Astonishing, step by step trading secrets... BUT ONLY FOR A LIMITED TIME. http://www.instantprofitstoday.org

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Google News Updated : Tue, 07 Oct 2008 14:49:35 GMT Fed creates commercial paper-buying facility - Reuters Reuters Fed creates commercial paper-buying facility Reuters - 32 minutes ago By Mark Felsenthal and Glenn Somerville WASHINGTON (Reuters) - The Federal Reserve on Tuesday announced it would create a special-purpose facility, with the Treasury Department's blessing, to begin buying commercial paper in yet another emergency move ... Euro, Dollar Gain on Fed Move Wall Street Journal Fed to Purchase US Commercial Paper to Ease Crunch (Update1) Bloomberg Washington Post - MarketWatch - New York Times - International Herald Tribune all 1,209 news articles Publ.Date : Tue, 07 Oct 2008 14:17:04 GMT McCain aims to slow Obama momentum in debate - Reuters BBC News McCain aims to slow Obama momentum in debate Reuters - 51 minutes ago By John Whitesides, Political Correspondent NASHVILLE (Reuters) - Republican John McCain hopes to halt Democrat Barack Obama's momentum and gain new life in the White House race on Tuesday when the presidential rivals meet in their second debate. A little word makes big waves on campaign trail CNN Political Ticker Tonight's debate is in McCain's favorite style The Associated Press CQPolitics.com - Washington Post - New York Times - AFP all 1,928 news articles Publ.Date : Tue, 07 Oct 2008 13:57:52 GMT Pentagon denies US jet forced to land in Iran - guardian.co.uk Daily Mail Pentagon denies US jet forced to land in Iran guardian.co.uk - 36 minutes ago The Pentagon today denied a report that a US plane had been forced to land in Iranian territory. Iran's Fars news agency claimed that five US officials were questioned and released by the Iranian authorities after the plane they were flying in ... Iran says it forced down Western plane The Associated Press Iran says US plane violated Iran's airspace Reuters Bloomberg - BBC News - AFP - United Press International all 270 news articles Publ.Date : Tue, 07 Oct 2008 14:12:58 GMT US, Britain, and UN weigh options amid rising violence in ... - Christian Science Monitor AFP US, Britain, and UN weigh options amid rising violence in ... Christian Science Monitor - 40 minutes ago By David Montero Against the backdrop of a string of suicide bombings in Pakistan, British, American, and United Nations officials are grappling with the idea of a negotiated settlement with the Taliban. UPDATE 1-Afghan govt denies Saudi meeting was peace talks Reuters India Afghan official: no talks held with Taliban Xinhua AFP - Minneapolis Star Tribune - The Associated Press - Hindu all 453 news articles Publ.Date : Tue, 07 Oct 2008 14:09:17 GMT Nobel Prize awarded for AIDS, cervical cancer research - Los Angeles Times CTV.ca Nobel Prize awarded for AIDS, cervical cancer research Los Angeles Times - 7 hours ago Luc Montagnier dedicated his award to AIDS sufferers and predicted results on a "therapeutic vaccine" for the pandemic within four years. 2 AIDS researchers receive Nobel Prize Chicago Tribune Three Europeans win the 2008 Nobel for medicine International Herald Tribune Detroit Free Press - People's Daily Online - The Associated Press - WTOP all 1,190 news articles Publ.Date : Tue, 07 Oct 2008 07:01:27 GMT Where Angels go...heartbreak follows - Baltimore Sun Los Angeles Times Where Angels go...heartbreak follows Baltimore Sun - 3 hours ago If you didn't stay up to watch, the Angels came back from a 2-0 deficit last night and had the go-ahead run on third base with one out in the top of the ninth, only to have the situation blow up in their faces when manager Mike Scioscia (right) called ... Oh, what a ninth! Sox-Halos a classic MLB.com Angels seething after being squeezed out ESPN Boston Globe - FOXSports.com - USA Today - Los Angeles Times all 569 news articles Publ.Date : Tue, 07 Oct 2008 11:42:08 GMT The Ike Whitaker Saga - Washington Post Washington Post The Ike Whitaker Saga Washington Post - 40 minutes ago In case anyone missed Zach Berman's story in today's paper, Ike Whitaker appears to be done at Virginia Tech. I raise the story in this forum because Whitaker chose Virginia Tech over Maryland amid the usual fanfare that accompanies a top-level recruit ... Va. Tech WR Whitaker faces misdemeanor charges SportingNews.com More alcohol woes for Tech wide receiver Whitaker Richmond Times Dispatch Virginia Tech Collegiate Times Online Edition - The Virginian-Pilot - Daily Press - Washington Post all 32 news articles Publ.Date : Tue, 07 Oct 2008 14:08:42 GMT Affiliate Data Feeds Amazon Tool

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