All You Need In Day-Trading to LEARN PREPARE DEVELOP EXECUTE IMPROVE
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Do as much reading online as you possibly can, read books and ask as many questions of successful traders as you can think of whenever you have a chance.
Most would highly recommended that you start out trading on a simulator until your win/loss ratio is at least 60% or higher before moving on to a real money account. It’s also almost always recommended that you start with small positions until you can prove to yourself you can be consistently profitable and only then slowly raising your positions over time.
Yes and no. You can definitely treat the stock market the same as you would a casino however, no long-term successful day trader does this. Although it’s true there will always be those certain days where you lose money in the market, that is just part of day trading. Your job as a day trader is to keep your win/loss ratio in positive territory by filling yourself with as much knowledge as possible in order to make educated decisions with the information that is presented to you that may move a stock in a predictable direction. If you do that you can be a successful trader.
You don’t need any money to start your education as there is an abundance of information available online to keep you busy for quite a while. You can never learn enough about the particular type of trading you’re interested in. There are free trading simulators available online. If you feel you’re ready to start trading real money you can start out with as little as $500.
Keep meticulous record of your trades and analyze them. There’s likely a pattern that can easily be identified. Once you figure out how you’re losing money eliminate those bad behaviors by modifying your trading techniques. If you still can’t figure it out ask someone else to analyze your trades for you. Trade on the simulator until you figure it out because there’s no reason to continue throwing money down a bottomless hole.
The short answer is, we’re just like you. We were once searching for good information while having to sift through all of the disingenuous scams designed to lure aspiring day traders in so they could be fleeced out of their hard earned money for subpar educational courses at extraordinarily high prices.
In truth, our group didn’t start out with grand plans of starting a paid service. The more questions that are asked by increasing numbers of people the more the need arises to concentrate our efforts on trying to help our fellow struggling traders. In order to invest the time and effort required, we have to be able to make an income that would otherwise come from trading or our other means of employment.
It all depends on the type of person you are. Some people learn better in a structured environment. Some people learn more rapidly by teaching themselves. There is a plethora of free material available on the internet, but learning that way forces you to sift through the useless in order to find the gems you’re looking for. A good paid course designed by profitable traders will have their proven methods outlined and condensed in an easily understandable format. You also have the experienced traders themselves to ask questions if you’re confused.
That’s up to you. We can give you all of the information and good advice in the world, but if you don’t put in the amount of time and effort that is required of you to become successful none of that information is worth a single cent. You won’t be successful overnight which is why we strongly recommend everyone start out on a simulator until you learn enough to become consistently profitable.
You should not be in a rush to start day trading with real money until you have proven to yourself that you have the ability to be consistently profitable in a simulator. Your first priority should be trying to learn as much as you possibly can about trading multiple strategies even if you plan to focus on only one strategy when trading. You can never learn too much!
Don’t try to take shortcuts! You have to be willing to dedicate as much time and effort in learning as possible in order to be successful. Apply what you learn by trading in a simulator before actually dedicating real funds to a newly learned strategy.