Day trading attracts plenty of hype. Slick vendors want you to believe that you can trade whenever and wherever you want. You could even be on vacation and make money at the same time.
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One of my day trading students told me he was disappointed. He has been trading $10,000 for six weeks, but realized only $600 in profits.
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Who knew that “free” really meant “expensive”? That may seem like a contradiction, but day traders can easily find themselves in a situation where it turns out to be true.
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We have all heard plenty of talk, both positive and negative, about the $700 billion bailout plan, and there are now rumors of similar plans in the works.
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We have all heard plenty of talk, both positive and negative, about the $700 billion bailout plan, and there are now rumors of similar plans in the works.
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Knowing when to accept your profits is key to successful day trading. However, many people often think that you can earn more by letting your profits run.
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Too often, I hear from traders who insist that they "specialize" in a single market. Although they may feel a sense of comfort and even mastery by trading exclusively in one market, this kind of approach is a serious mistake.
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I insist on the power of weekly profit goals in my Day Trading Coaching Program. I help my students determine a goal for each week that is at once attractive and realistic.
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We have seen a number of dark days for stock markets all around the world in the past months. But how frightened should we be?
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Day traders cannot avoid losses. If anyone tries to sell you a system that has no losses, or even as little as 10% losses, you can be sure that they are unreliable.
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I am frequently asked how to use pivot points in day trading. They can certainly be useful tools, but, by themselves, they are not a real trading system or strategy.
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