There are more than 20 of them. In general, I like equity line following. For each trading technique, I run an imaginary portfolio in an Excel spreadsheet. In real trading I use that method of picking stocks, which gives the best equity line during the given phase of the market. If "Buy IPOs" performs best - I buy IPOs. If "Short the Nets" becomes the leader, I start shorting Internet stocks…As a result, 80% of all trading days during a year are profitable for me. The idea is very simple: If you choose not to chase astronomical returns, but instead merely try to earn 2% each day in a year, you will be 150 times richer.

I would like to express my gratitude to some of my teachers. First is Yuri Karnaukh, the ex-president of Ost-Vest Hadelsbank. He is a man who followed gold from $35 to $400. Many years ago he told me: "Aleks, I will show you brave new world - the Market". That was day one…

Second is my compatriot, Dr. Aleksander Elder, an author of a marvelous book called "Trading for a Living." Thanks to Dr. Elder, I recognized that greed, fear, and hopes are my only enemies on the Market. I understand that a successful trader is a far-out thinker, but also mathematically rational in his behavior. Having read his book, I started to cultivate the trader inside myself. Visit http://www.Elder.com if you're interested. If you see him, please pass on my regards.

Third, is one of my best friends, Mike Reznikov. He is a talented mathematician and successful trader. Once, many months ago, he said, "Aleks, I would like to trade like a slot-machine." This became a key-phrase to me and changed the style of my trading behavior. I suddenly understood the meaning of mathematically rational behavior. By the way, recently my girlfriend came to me after losing a lot of money in a casino. I was sitting before the screen deep in trading. "Aleksander," she said, "now I understand whom you resemble when you trade. You resemble a one-armed bandit" (actually I have two arms). 

Just choose the good positions and avoid the bad ones. Poor trade selection takes a heavy toll because it bleeds your confidence and wallet. You will face many crossroads during each market day. Without a system of discipline for your decision-making, impulse and emotion will undermine skill as you chase the wrong stocks at the worst times.

Many short-term players view trading as a form of gambling. They throw money at the market without planning or discipline. The occasional "big score" reinforces this easy money attitude and sets them up for ultimate failure. Without guidance, insiders easily feed off these losers and send them off to other hobbies.

Technical Analysis teaches traders to execute positions based on numbers, time and volume. This discipline forces traders to distance themselves from reckless gambling behavior. Through detached execution and solid risk management, short-term trading finally "works."

Markets echo similar patterns over and over again. The science of trends allows you to build systematic rules by which to benefit from repeating formations and avoid the chase.