So you want to earn your money day trading the markets? You’re not the first person, and you certainly won’t be the last. It’s a lucrative business that contains a lot of risk, but a hefty reward for those who can get it right. The reason why am writing this is that I see many new traders simply open up a chart, place and indicator on it, and suddenly think they going to … [Read more...]
Why You MUST Identify Support And Resistance To Improve Your Trading
Do you understand why support and resistance is so important to those who are day trading? It’s not some mystical chart pattern, there is a simple reason why these areas form on a chart, and if you don’t understand why that is you are setting yourself up for a lot of pain. Support and resistance on a chart is as simple as this: the price of any market is always searching for … [Read more...]
The Requirements Which Determine YOU As a Pattern Day Trader
Trading is the practice of buying and selling shares of a public corporation's stock. A day trade occurs when the speculator -- the individual purchasing or selling the share(s) -- initiates a trade after the previous market day's end and closes the trade before the current market day's end. A day trader is an individual who participates in pattern day trading: the execution of … [Read more...]
4 Types Of Trader – Which One Are You?
The novice trader looks at the most successful of stock market moguls and wonders always what their secret is. Even those who have found great success in the markets themselves cannot always identify exactly what about them makes them a great trader, and endless magazine articles, books, and lectures have been produced exploring the subject. Usually, the explanation of the … [Read more...]
Do NOT Trade Until You Know Yourself
People from every corner of the globe are finding success in the markets. Many of them even make a full time living from it. Whether it’s with currencies, stocks, or futures there is a new fortune to be made every day. Furthermore, it’s an awesome feeling to have a hunch about an asset and then make a cool profit from it. However, there are a few different styles of trading. … [Read more...]
Trading Stock Breakouts – The Simple Explanation
Trading breakouts in stocks and other markets can be one of the most profitable setups one can utilize in their trading arsenal. The fact is that markets, and stocks specifically, spend most of their time trading in a range. Because they have this tendency for sideways price action, when markets do happen to expand their price action the magnitude of movement can be extremely … [Read more...]