Finding Helpful Day Trading Information Online
By Leon Edward
It can be fun and exciting to be a day trader online. If it's done right, it can make it wealthy. If you're careful, you can have the lifestyle you want with relatively little work.
Typically, day traders rapidly buy and sell stocks in hopes of making money with this rapid buy/sell cycle. Of course, the idea is to buy when the stocks are as low as they can be and to sell them just as rapidly once the stock climbs enough to make the trader money. This is a very fast-paced way to manage buying and selling stocks, but for many day traders, this is exactly what makes it an attractive practice. Not only is there the adrenaline rush of the "game" inherent in buying and selling stocks so rapidly, but it's also risky and can result in significant losses in a very short period of time.
If you're thinking about becoming a day trader, do your homework. Research just what online financial trading is all about so that you know what you're doing before you start. If you're smart, you'll need enough of a cash cushion to be able to take some losses, since this is what you'll encounter in day trading at least some of the time.
Second, don't be intimidated by the practice. As long as you do your homework and pick some stocks you are comfortable with, you should be fine. Again, be willing (and able) to lose some cash during the course of your day trading activities. You can also get tips from experienced day traders to know what they're doing. In a relatively short period of time, you can be an expert in the field yourself.
To gain the most knowledge of day trading, spent some time in day trading chat rooms, which are prevalent on the Internet. Here, you can learn a lot from experienced day traders. You'll also be in good company with a lot of people who are themselves interested in learning about day trading. Be careful, though, before you take advice from these chat rooms that you know where the advice is coming from. Many people in the day trading chat rooms will deliberately give out bad advice to trip you up, in short because this not only gives them the advantage, but because it makes you lose out. So be careful just to you take your advice from.
On the other hand, the day trading chat rooms can provide you with a lot of good information if you check what you are told out by doing some research of your own after you hear about a certain tip. In addition, you may find relationships that will prove to be invaluable in your day trading practices. You'll also be sure. Here's some ideas that you can take and modify for yourself, to make your day trading the most successful it can be.
When you go into a day trading chat room, be careful not to get too involved in any of the conversations at first. Hang back and just have a look at the people who are there. At first, you won't know whom to trust or not trust, but eventually, you should be able to find out who's got a good reputation if you hang around there for a while. And as always, no matter who you hear an idea from, make sure that you research the idea before you apply.
Finally, of course, you can also go into a chat room to just "shoot the breeze" with someone were to build up your own reputation. However, since this is exactly what you do not want from other people who go into these chat rooms (especially if you're looking to get some good, experienced advice) then it's probably not a good idea to do this yourself. You should use the chat rooms to establish relationships (that you can check out from independent sources and not just take chat room participants at their word) and to simply gain experience by hanging around and listening to others' chats. Simply learning a lot of the language and jargon particular to day trading is important, and chat rooms can help you do this. But in the end, of course, your own homework and research is your best ally once you've made a visit to one of these chat rooms.
Click Here to get a free day trading checklist, strategies, absolute basics you need and Day Trading Tips
==========================================
Why Use Trading Software If You're a Day Trader?
By Jonathan Langley
Trading Software has long been giving that extra edge to those traders who are having difficulty getting started in the potentially lucrative day trading market, or those who are having trouble making some serious money in it. Consider these reasons to at least give trading software a risk free try and begin making yourself some real money in the day trading market.
First, if you were unfamiliar with how trading software works, here's some quick background info. This is software which makes use of mathematical algorithms which look at past and more recent profitable trends, looks into the factors which led to those trends, then applies these factors to real time market data to find upcoming profitable trends. Once it's found similar patterns, it investigates that particular trend further until it starts to display some trend indications. If it deems something as being a profitable trade, it emails you accordingly so that you can trade accordingly.
Trading software addresses a number of dangerous and infamous money costing issues associated with day trading. It completely eliminates any possibility for guesswork or emotions factoring into trading. These are natural killers to even the most competent trader's campaigns. This software takes these "up in the air" factors out of your hands an discards them as this software bases its picks entirely on market data and nothing else. Consequently it has been lauded as the most sensible and guaranteed way to trade. The best software out there today helps the traders who use them boast the best winning trade rates.
Additionally, one of the great things about using the best reviewed trading software is that you don't need to know a thing about the market to experience some real profits from its guaranteed picks. All you've got to be able to do is simply enact the recommended trades using an online trading account.
=======================================
Profitable ETF Trading Strategies - Feed the Bulldog Every Day
By Ken Long
In order to build up your emotional and financial bank accounts during the day, short-term traders should consider the technique of "feeding the bulldog" and making this a primary objective of each trading day.
There is an old saying to the effect that "talking doesn't feed the bulldog". This is a colorful way of saying that results from cashing winning trades are the only way to grow your account objectively. You must be able to cash winning trades when the time is right in order to have the money to fund future trading operations and meet your financial goals.
"Feeding the bulldog" means taking care of business when it's time to exit the trade. When you exit to feed the whole block, you take on the persona of a thick-skinned experienced, practical survivor of the trading game. You are taking a professional profit in order to lock in the gains.
Here is an example of how you can use that mindset of "feeding the bulldog" to meet your daily profit target objectives and yet stay very active when you are in tune with the market and on your way to a great trading day.
Consider a trader who is willing to risk up to $1000 a day with a unit of risk being normally $250 and who is capable of managing up to four simultaneous positions and remain within the span of control. This means that the trader could have four open positions with the maximum $250 of risk per position when fully committed to the market. It would be normal for all four of these positions going in the same direction as part of the major theme of the day. It's not impossible, though, for one or two of those positions to be going against the market in an area of weakness in the form of a pair trade.
This trader's rule about feeding the bulldog is operational at $500 gain per day. What that means is that the first $500 for profit must go into the bank. This money is not available to work additional trading the rest of the day. For the trader to engage new positions he must cash one of the other trades that are still open and use the profits as a means of funding additional positions. A very good first trade may end up feeding the bulldog. This would mean the open profits of three other trades to be available for your wedding or taking on new positions.
This mindset acts slow you down on days when you think you really have it going on, but it also reinforces the discipline of making positive gains every day as a primary objective of your short-term trading.
It makes you consider very carefully the quality of your open positions compared to the enthusiasm you feel for the next trading idea. By forcing you to choose, it keeps you focused on your best profit opportunity
These parameters suggested in this article are simply to illustrate the point. To adopt this mindset for your own trading would require you to know yourself and your risk parameters and would incorporate information about your trading capital and risk appetite.
Feeding the bulldog every day can add discipline and professionalism to your daily trading practice.
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chatroom.
Training, education, mentoring and coaching for professional traders.
By Leon Edward
It can be fun and exciting to be a day trader online. If it's done right, it can make it wealthy. If you're careful, you can have the lifestyle you want with relatively little work.
Typically, day traders rapidly buy and sell stocks in hopes of making money with this rapid buy/sell cycle. Of course, the idea is to buy when the stocks are as low as they can be and to sell them just as rapidly once the stock climbs enough to make the trader money. This is a very fast-paced way to manage buying and selling stocks, but for many day traders, this is exactly what makes it an attractive practice. Not only is there the adrenaline rush of the "game" inherent in buying and selling stocks so rapidly, but it's also risky and can result in significant losses in a very short period of time.
If you're thinking about becoming a day trader, do your homework. Research just what online financial trading is all about so that you know what you're doing before you start. If you're smart, you'll need enough of a cash cushion to be able to take some losses, since this is what you'll encounter in day trading at least some of the time.
Second, don't be intimidated by the practice. As long as you do your homework and pick some stocks you are comfortable with, you should be fine. Again, be willing (and able) to lose some cash during the course of your day trading activities. You can also get tips from experienced day traders to know what they're doing. In a relatively short period of time, you can be an expert in the field yourself.
To gain the most knowledge of day trading, spent some time in day trading chat rooms, which are prevalent on the Internet. Here, you can learn a lot from experienced day traders. You'll also be in good company with a lot of people who are themselves interested in learning about day trading. Be careful, though, before you take advice from these chat rooms that you know where the advice is coming from. Many people in the day trading chat rooms will deliberately give out bad advice to trip you up, in short because this not only gives them the advantage, but because it makes you lose out. So be careful just to you take your advice from.
On the other hand, the day trading chat rooms can provide you with a lot of good information if you check what you are told out by doing some research of your own after you hear about a certain tip. In addition, you may find relationships that will prove to be invaluable in your day trading practices. You'll also be sure. Here's some ideas that you can take and modify for yourself, to make your day trading the most successful it can be.
When you go into a day trading chat room, be careful not to get too involved in any of the conversations at first. Hang back and just have a look at the people who are there. At first, you won't know whom to trust or not trust, but eventually, you should be able to find out who's got a good reputation if you hang around there for a while. And as always, no matter who you hear an idea from, make sure that you research the idea before you apply.
Finally, of course, you can also go into a chat room to just "shoot the breeze" with someone were to build up your own reputation. However, since this is exactly what you do not want from other people who go into these chat rooms (especially if you're looking to get some good, experienced advice) then it's probably not a good idea to do this yourself. You should use the chat rooms to establish relationships (that you can check out from independent sources and not just take chat room participants at their word) and to simply gain experience by hanging around and listening to others' chats. Simply learning a lot of the language and jargon particular to day trading is important, and chat rooms can help you do this. But in the end, of course, your own homework and research is your best ally once you've made a visit to one of these chat rooms.
Click Here to get a free day trading checklist, strategies, absolute basics you need and Day Trading Tips
==========================================
Why Use Trading Software If You're a Day Trader?
By Jonathan Langley
Trading Software has long been giving that extra edge to those traders who are having difficulty getting started in the potentially lucrative day trading market, or those who are having trouble making some serious money in it. Consider these reasons to at least give trading software a risk free try and begin making yourself some real money in the day trading market.
First, if you were unfamiliar with how trading software works, here's some quick background info. This is software which makes use of mathematical algorithms which look at past and more recent profitable trends, looks into the factors which led to those trends, then applies these factors to real time market data to find upcoming profitable trends. Once it's found similar patterns, it investigates that particular trend further until it starts to display some trend indications. If it deems something as being a profitable trade, it emails you accordingly so that you can trade accordingly.
Trading software addresses a number of dangerous and infamous money costing issues associated with day trading. It completely eliminates any possibility for guesswork or emotions factoring into trading. These are natural killers to even the most competent trader's campaigns. This software takes these "up in the air" factors out of your hands an discards them as this software bases its picks entirely on market data and nothing else. Consequently it has been lauded as the most sensible and guaranteed way to trade. The best software out there today helps the traders who use them boast the best winning trade rates.
Additionally, one of the great things about using the best reviewed trading software is that you don't need to know a thing about the market to experience some real profits from its guaranteed picks. All you've got to be able to do is simply enact the recommended trades using an online trading account.
=======================================
Profitable ETF Trading Strategies - Feed the Bulldog Every Day
By Ken Long
In order to build up your emotional and financial bank accounts during the day, short-term traders should consider the technique of "feeding the bulldog" and making this a primary objective of each trading day.
There is an old saying to the effect that "talking doesn't feed the bulldog". This is a colorful way of saying that results from cashing winning trades are the only way to grow your account objectively. You must be able to cash winning trades when the time is right in order to have the money to fund future trading operations and meet your financial goals.
"Feeding the bulldog" means taking care of business when it's time to exit the trade. When you exit to feed the whole block, you take on the persona of a thick-skinned experienced, practical survivor of the trading game. You are taking a professional profit in order to lock in the gains.
Here is an example of how you can use that mindset of "feeding the bulldog" to meet your daily profit target objectives and yet stay very active when you are in tune with the market and on your way to a great trading day.
Consider a trader who is willing to risk up to $1000 a day with a unit of risk being normally $250 and who is capable of managing up to four simultaneous positions and remain within the span of control. This means that the trader could have four open positions with the maximum $250 of risk per position when fully committed to the market. It would be normal for all four of these positions going in the same direction as part of the major theme of the day. It's not impossible, though, for one or two of those positions to be going against the market in an area of weakness in the form of a pair trade.
This trader's rule about feeding the bulldog is operational at $500 gain per day. What that means is that the first $500 for profit must go into the bank. This money is not available to work additional trading the rest of the day. For the trader to engage new positions he must cash one of the other trades that are still open and use the profits as a means of funding additional positions. A very good first trade may end up feeding the bulldog. This would mean the open profits of three other trades to be available for your wedding or taking on new positions.
This mindset acts slow you down on days when you think you really have it going on, but it also reinforces the discipline of making positive gains every day as a primary objective of your short-term trading.
It makes you consider very carefully the quality of your open positions compared to the enthusiasm you feel for the next trading idea. By forcing you to choose, it keeps you focused on your best profit opportunity
These parameters suggested in this article are simply to illustrate the point. To adopt this mindset for your own trading would require you to know yourself and your risk parameters and would incorporate information about your trading capital and risk appetite.
Feeding the bulldog every day can add discipline and professionalism to your daily trading practice.
Ken Long, Chief of Research, Tortoise Capital Management
finance: http://www.tortoisecapital.com
essays: http://kansasreflections.wordpress.com
Independent research, combining technical analysis and behavioral psychology.
30 day free trial of reports and live trader chatroom.
Training, education, mentoring and coaching for professional traders.
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