Day Trading and Day Traders
Submitted by Van Beek on April 3, 2010 - 11:56
When you are interested and have the time to trade on the stock market every day, Day Trading could be something for you. Many or maybe most day traders are losing money. You need to study and learn to become part of that minority of people in day trading who actually make money. Here we have a list of resources for you that can help you in this.
The first step when starting day trading or when you want to improve your day trading is to learn from the people who are successful in it. How many successful day traders do you know? Probably not too many.
Lukily there is a website where you can listen to successful day traders. They interview them and place these interviews for you to listen on their site. Check it out! It is a good way to start or improve your day trading. Never stop learning. See here the Link to TraderInterviews.com home page.
See here some other links, directly to great learnings on day trading:
20 Trading Rules For Becoming a Great Trader
How To Set the Right Profit Target and Stop Loss Levels
Day Trading Profitable or not.
The internet age has made day trading possible for non-professionals an area once available only to floor traders. Not too long ago it took anywhere from 15 min. to an hour to place a trade and get confirmation that it occurred. Today it is a matter of seconds.
Does that mean it is wise to day trade though. Not usually in my experience. I have made money day trading and lost it also. I have generally made more than I lost but not enough for it to be substantially profitable.
Looking at a stock chart you can see that following a trend is far more profitable and easier to identify than attempting to pick a time frame within a given day that will make you money.
Learning to time a trend in its beginning stages and to get on when that trend is beginning can be key to a profitable trading/investing experience.
You can check out some charts at the link below to see some ways of helping to identify trend beginnings.
www.trendlinebreakoutstocks.com