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Day Trading
Is it all
hype, or is day trading a viable profession?
We want to
clear one thing up...yes, you can make a
living day trading, and you don't need to be on the trading floor to do
so. We know this from
personal experience. One of our principal authors has been doing so for
more than 20 years.
Now that we
have that cleared up, let's look at the other side of the coin. Day
trading is not a sure road to success like some hype filled web sites
would have you believe.
You are
competing against some of the brightest minds
in the world, and they have more resources and technology than you
could ever dream of.
So where is
the sweet spot between those extremes?
Day trading
is a potentially lucrative career, but you have to work hard at it, and
you have to learn how to do it like the pros do. To do that, you have to be obsessed with
controlling your risk. Your trading account is like the company store.
If you lose your store, you are out of business.
You also
have to be patient. You need to wait for low
risk / high reward trading opportunities. That will go a long
way towards helping control your risk.
And, as a
trader, you need to always look for the emotion
in the market... you need to take advantage of that emotion. When the
market is in a panic, you have to be looking to buy. And when the
market is full of euphoria, you need to be looking to sell.
Of course,
the road to success in day trading is not quite that simple, but if you
focus on controlling your risk and emotions, and you learn to be
comfortable trading against the crowd, you will have the basics down.
If you are
just starting out in day trading, you will not find a better education
at a better price than our delayed FREE
trial. You get the benefit of looking "over the shoulder" of a
professional trader. And you will get to see a professional approach to
day trading on a daily basis. For free.
And the
ONLY difference from our Real Time service is that you get the updates
one day late. Are you ready to look over a pro's shoulder? Sign up for
your unlimited FREE trial now!
Published by
Online-Day-Trading.com
Copyright © 2002
Online-Day-Trading.com. All rights reserved.
Day Trading
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Disclaimer
The
financial markets are risky. Investing is risky. Past performance does
not guarantee future performance. The foregoing has been prepared
solely for informational purposes and is not a solicitation, or an
offer to buy or sell any security. Opinions are based on historical
research and data believed reliable, but there is no guarantee that
future results will be profitable.
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