Interested in day trading? If you are like me, I’ll bet you have seen claims like these?
Put On Your Day Trading BS Meter
Veteran trader exposes how to create a 5 figure income trading the markets with a radical and incomparable trading strategy. No more monitoring the market. Now, with XXXXXx you can trade even if you have a day job! It simply takes less than 10 minutes per week to implement it.
By chance A 10 Year Experience Trader Stumbled On A Crazily Simple Trading Trick That Unlocked The Mystery Of The Markets…… And You Can Learn This “Insider Secret” From A Professional Trader To Earn A Five Figure Income From Day Trading.
Buy now just —
200, 75, 35 23 remaining before the price goes up from $87 to $297!
Sorry but…..Ha ha ha that’s just BS.
It is just not that easy but you CAN do it if you apply yourself and stay away from some of the massive over claims that we see in the market… and in my opinion trading robots and EAs
What Is The Attraction of Day Trading?
No doubt, you have heard of people quitting their regular jobs to go into day trading. Or going into day trading when they are made redundant as I did.
This, is despite the fact that an estimate of 70% of traders and securities investors lost some or all of their money in the process. And for futures, options and CFD traders, over 90% of them lost some or all of their money and quit trading altogether.
The thing that lures people into this type of business is the same temptation that gambling or betting does to others – the possibility of earning fast, easy money. However, while others see this as another form of gambling, traders and investors would argue otherwise.
Well don’t give into the greed…
Steps To Take To Be Successful At Day Trading
You can do it, but you do need to take some or all of the following steps.
Develop some knowledge about day trading. Study and then study some more and don’t stop learning. You can take online tutorials and learn about the stock market and day trading with them, by joining online forums, reading newsletters, and attending seminars. Many of these are free – like many of the ones on this website!
Learn about risk management and money management
Get some training to boost your understanding! If you feel you don’t have enough knowledge to build your own day trading strategy, then you might consider buying some day trading training for a seasoned and profitable day trader. And get some mentoring if you can.
Buy or develop a day trading system or day trading strategy. Even if you buy the system – you should back test it, paper trade it and then trade it with small amounts of risk capital before going into it as ‘real’ day trading. That’s if your day trading strategy is profitable at each stage.
Learn how to manage yourself and your reactions to making a day trading win or a series of losses – because they will come!
Set a limit for your trading business – just as any other business owner would. Ask yourself how much capital you are prepared to risk to get your day trading business up and running.
And…don’t go past that.
Be responsible. Whatever your decision is, be ready to face its consequences. Your self-discipline, determination, and persistence are very important.
If you are looking for day trading systems, consider trading forex. There is a reason for this recommendation because many people are trade stocks and shares. The problem with this is that markets go down too… and for many traders in stocks and shares, they are not able to benefit from down markets.
This personally happened to me when first started my full time trading life. I started trading stocks, the GFC hit and while I was able to short trade the market, short selling was banned for nearly 6 months. So no income and a switch to forex trading which has been much more reliable.
Try These Day Trading Systems
If you are looking for a forex day trading system, I recommend you have a look at Loz Lawn’s daily trading system. It’s a forex trading system that is both fully supported with a massive training system and backup. This approach will provide you with proven to strategies and the support you need to achieve your financial goals… and best of all it’s not a trading robot. You will actually learn stuff that helps you in the future. Have a look here.
If you are an experience trader, looking to add another trading approach to your systems, have a look at Karl Dittmann’s Forex Super Scalper. It’s an easy to use indicator that will help you to scalp an easy $200 to $1,500, or even more, consistently and reliably, with virtually no risk. Check it out here.