Author Box
Articles Categories
All Categories
Articles Resources

What Is Day Trading All About? Day Trading Is Much Easier Than You May Think!

May 25, 2012 | Comments: 0 | Views: 119

So you want to become a day trader?

As humans, competition is a driving factor in all the actions that we take on a daily basis. Day Trading is highly competitive, so if you thrive on competition you will love the day trading atmosphere.

So you want to know what day trading is all about?

The definition of day trading is the buying and selling of financial instruments with the goal of making a profit from the difference between the buying and selling price. It is like any business in that when you buy something you need to sell it for more than you bought it for, and when you sell it you need to buy it for less than you sold it for. As day traders we do have lingo that is important. When we buy something to get long we say we are long the product, or if we sell it to get net short we say that we are short of it. That way their is zero confusion, and in the fast paced world of day trading confusion kills.

You must understand, however, 95% of traders fail, so why would I discuss a business with such a high failure rate? Businesses in general have high failure rates, if you look at the various small businesses around you that open up, in 5 years statistically only 1 or 2 will be around. People who succeed in business know that they must learn it, and the best way is to surround themselves with people who already do.

I have been trading for over a decade and realize the many challenges involved. There are a few steps to become a successful trader, but it will take time to learn everything. There is no way possible anyone can take an afternoon or weekend training class and become a million dollar trader.

This business will take a lot of work, and here are four steps to succeed.

1. Find a trading coach - having a friend who is successful and can teach you success is important

2. Begin with a demo account - practice makes perfect remember

3. Document all of your trades - This will ultimately help you improve

4. When you are consistent then move to real money - Your trading coach should be able to help you with this

Warning: Do not neglect any step! Day trading is challenging enough so please take it seriously

Right now, we do not know if trading is right for you!

Inside I have a 7 day free trading plan course detailing on how to plan your day trading business!

Click here to begin your day trading journey!

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Day Trading


Trading Coach






Trading Plan

Forex dealing is dealing in currency trading and basically includes dealing in foreign exchange while the stock market dealing is the dealing of stock in a standard market market. The two types of

By: Anil Mali l Investing > Stocks l October 25, 2012 lViews: 245

Investments in silver metal can be done by several ways. The article talks about the best ways of silver investments. Silver, the precious metal has always attracted investors for several reasons.

By: Kyles Humphrey l Investing > Gold Silver l August 17, 2012 lViews: 305

The article offers reasonable reasons for high oil prices. Crude is indispensable and it is a great source of energy. The prices on oil keep on altering, sometimes it is too high and sometimes it

By: Kyles Humphrey l Investing > Stocks l August 17, 2012 lViews: 286

Many investors are unaware of new tax that will be levied as part of the Supreme Court’s decision to uphold President Obama’s health care reform. The investment tax, as it is being referenced,

By: Ben Esget l Investing > Retirement Planning l July 17, 2012 lViews: 405

A few months ago, I was at Starbucks talking to someone about stocks and bonds, he and his wife had worked hard and were worried about the stock market. They wanted something much less risky. He

By: Lance Winslow l Investing > Stocks l July 11, 2012 lViews: 434

The first step in the risk management process is to acknowledge the reality of risk. Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning.

By: Lawrence Tepper l Investing > Retirement Planning l July 10, 2012 lViews: 240

There is a price to pay for financial freedom you are hoping to achieve with your trading. Alas it is not what you think it is. Hard work has not produced master traders. In fact most people who work

By: Mercedes Oestermann Van Essenl Investing > Day Tradingl June 03, 2012 lViews: 160

By knowing this fact, you, as a person who wants to learn to trade options, are also considered learners, and you can determine your classification as a learner. You must reflect on where you learn

By: Stanley N Collinsl Investing > Day Tradingl June 01, 2012 lViews: 197

Are you searching for steps that can help you find your way into a simple but yet effective options trading? If that is your case, you must be very glad for you have found what you are searching:

By: Stanley N Collinsl Investing > Day Tradingl June 01, 2012 lViews: 176

The Japanese Candlestick pattern of charting in Forex Trading reports is an old one, used since the 1800's. It makes a very easily interpreted visual to explain how trading for the day went. Though

By: Martin K. Brookel Investing > Day Tradingl June 01, 2012 lViews: 144

As if the concept of trading foreign exchange currencies was not enough, now you are bombarded by the notion of being a "technical trader" and learning to "predict" certain occurrences in the Forex

By: Dr R A Bensonl Investing > Day Tradingl May 31, 2012 lViews: 165

One of the best ways to appreciate the worth of an asset or instrument is by comparing it with the other similar and related products. It is in this regard that for us to better appreciate contract

By: Bryan Rollinsl Investing > Day Tradingl May 31, 2012 lViews: 147

Discuss this Article

comments powered by Disqus