| Day trading, for the people who can do it well, is | | | | made. Learn from your mistakes, but don't dwell |
| an excellent way to make money. What used to | | | | on them. |
| be a specialized field, dominated by brokers | | | | A good way to learn day trading is with a test |
| watching the displays on the floor at Wall Street | | | | account; ideally with some sort of teaching |
| is, more than ever, an endeavor done by people | | | | program. You'll be in a situation where someone |
| at home, using the internet and automated | | | | who's looking at the same market data you are |
| programs to get day trading career success. | | | | explains what signals they saw, and explains how |
| Getting to that promised land of day trading | | | | they made their trades, and why. The mechanics |
| career success is something that takes an | | | | of day trading are simple, and in a lot of cases, |
| education and a willingness to take risks, but it's | | | | highly automated. The actual strategy comes |
| possible for anyone to do it if they're willing to | | | | from reading the tea leaves of opening and |
| invest the time. You don't need to be a genius to | | | | closing prices on stocks or equities in the sector |
| do this, you just need to be perceptive. | | | | you're studying. |
| Most day trading career success comes from | | | | Many of these equities will follow specific patterns |
| paying your dues making a bunch of trades that | | | | that can be tracked, and predicted...most of the |
| seemed like a good idea at the time, with the | | | | time. Knowing when the market has 'gone out of |
| information you had available. This is sometimes | | | | the predictable phase' is also an important lesson |
| called 'making money the old fashioned way - by | | | | to learn. Just like playing poker, sometimes the |
| losing it and learning from it'. | | | | winning play is to fold early when you don't like |
| How quickly you get to success in stock trading | | | | the looks of the signals you're getting. |
| stems largely from how quickly you can learn. | | | | Day trading career success comes from |
| There is no secret formula to this, it's all about | | | | education, it doesn't come in a box, it doesn't |
| learning the ins and outs of one or two market | | | | come from an automated program. Don't believe |
| sectors and learning to read the signs. Anyone | | | | any day trading program that talks about how |
| selling you a seminar is trying to tell you what | | | | you can make money easily. Day trading is a job, |
| stupid mistakes they learned from so you don't | | | | it's a job that requires a certain attention to detail, |
| have to make them yourself. | | | | a certain degree of monomania, and a certain |
| Understand that day trading career success - and | | | | willingness to take risks. |
| getting to the point where you consistently make | | | | Just remember, automated tools like stock trading |
| money - is going to be a process of making | | | | software don't have judgment - they can |
| mistakes. Some of those mistakes will be costly; | | | | execute trades according to parameters you |
| you'll think you've got the market read correctly, | | | | entered at the start, but if they encounter |
| you'll place your trade, and you'll find that there's | | | | something outside their parameters, they're just |
| either a missed opportunity, or you held onto | | | | as likely to lose you money as make you money. |
| something too long and lost money entirely. | | | | All the automated software tools do is free up |
| Since day trading is all about market volatility and | | | | your time to do analysis, and handle the tedious |
| using that to make your trades and make your | | | | details that you'd otherwise handle on the phone |
| profits, there will always be another trade to be | | | | with a broker. |