Publisher's Synopsis
Do You Want to Learn How to DAY TRADE?If YES, then keep reading...
It is possible to succeed and earn a decent living through day trading for a few hours a day. However, it may also take months before a person starts making money aut of the trade. The initial year can be challenging because of the various ups and downs you will face and the main goal at this time is not to lose everything. If this does not deter you and you are still determined to start day trading, you must plan for the following:
Day Trading is something that requires seriousness and considerations. It needs for one to have a rehearsed and sound method that gives you an edge over every trade you make.Begin by watching free live chats on moving assets and ask yourself the following questions:
- How would one engage in a trade?
- How would a person get out of a winning and losing trade?
- How much would you be willing to risk on a trade and what position would you take or volume would you take?
- After deciding on the trades to use, what is the probability that a trade will be profitable and what strategies are available?
To be able to answer these questions, you will need to implement the same method severally and monitor the outcome. One can create a strategy by simply finding tendencies in price action in a day for the asset or you can learn a strategy from a different person.
Practicing frequently is key to day trading. Just like a sport, you practice in order to be the best, so it is in day trading. You must always practice what you need to do before you actually implement it. Remember you must fund your account which takes your hard-earned money. Your money is at stake so practice is important to avoid possible losses.
By use of a demo account, practice methodically, horning your strategy over and again. What you are likely to realize is that each trade is different from the next. A particular trade today may be dormant but tomorrow it becomes extremely volatile. Today it can be ranging while tomorrow it becomes the trending stock.Without practice, you are likely to miss noticing trade signals or find yourself making trades that are not in your strategy.
Practice on the strategy you are working on only, perfect it and understand it in and out. With the pressure of trading with real capital, when you move to trading live, you do not want to be second guessing yourself if you take a trade or not. Using the demo account, practice until you start being profitable for several months. Once you attain this level, you can now take the risk to open a live account that uses real capital.This book gives a comprehensive guide on the following:- What is DAY TRADING?
- DAY TRADING pros and cons
- Right Mental Mindset to Have
- The Gold Nuggets
- Fibonacci Strategies
- First Hour Trading
- Technical indicators
- Technical Analysis
- Support and Resistance
- Picking the Best Time to Trade
- ...AND MORE!
