Publisher's Synopsis
Ten percent of day traders are successful. However, you could be one of them if you work hard and take day trading seriously. You may manage your risks and get fantastic profits.
The prospect of day trading their way to riches tempts a lot of people. Due to their lack of preparation, most of them crash and burn. However, there is nothing stopping you from being one of the greatest traders in history, such as James Simons, a math professor who created his own quantitative trading system and became a millionaire, or George Soros, who made billions by trading against the Bank of England. People just like you who have traded their way to success can be found on broker eToro's top trader list. Traders such as Heloise Greffe, a full-time trader who employs machine learning to improve her deals, Jepp Kirk Bonde, who began in 2013 and has a 31% return,Or take Steve Cohen, who amassed a $17 billion fortune through day trading, earning $10 million a year. You could also go with them! However, 90% of day traders don't make it. They commit six major errors, which is why they fail.
They don't assess each trade's risk/reward ratio.
Rather than restricting each deal to a smaller portion of their overall capital, they wager the bank.
They don't employ stop losses or price objectives, and they lack the self-control to get out of a losing trade.
They let their feelings to control them.
They don't take the time to develop sound trading rules and test them in advance to ensure they function.
They don't concentrate on the investments that offer them the best chance to make money. This book provides practical guidance on navigating these challenges, including:
Risk management principles and position sizing
Technical analysis and market psychology
Entry and exit strategies with concrete examples
Common mistakes through real trader case studies
proven strategy
Broker selection and trading system requirements
Asset liquidity and spread considerations. You will be able to grasp the fundamentals and apply them even if your only knowledge of financial markets is using an ATM to withdraw cash. It's time to start your financial success path!
