What The Plan Do You Need to Start Day Trading ?

Posted by Moore > 2019-09-05 13:01 | Report Abuse

Starting to day trade isn't a decision to be taken lightly. It is possible to be successful and earn a good living trading only a few hours per day, but that goal is many months away for people just starting out. If you still want to start day trading, there are five things you need to do in order to put yourself on the right path. #Create/Learn a Strategy Day trading isn't something to do on a whim. It requires a sound and rehearsed method that gives you a statistical edge on each trade you make. You can create a strategy by finding tendencies in the daily price action of an asset. Also, you can learn a strategy from someone else or you can learn from the courses. #Practice a Lot Practicing is key in day trading. To be good at a sport, you practice. Even at a minimum-wage job, the boss usually makes you practice what you are supposed to do before you do it for real. Practice only the strategy you are working on. Perfect it, and know it well. With the added pressure of trading real capital, when you switch to live trading, you don't want to still be thinking about whether you should take a trade or not. #Know the Capital Requirements Capital to a day trader is like inventory to a store owner. You need it to operate, and how much you have—and how you manage it—will determine your income. #Consider Goals and Constraints Before you invest time in creating or learning and then practicing a day trading strategy, consider your goals and constraints. #Choose a Broker While you are practicing and developing strategies, choose a broker. This may be the same broker you open a demo account with, or it may be another. Do you think it helps? Tell me!

3 people like this.

8 comment(s). Last comment by Moore 2019-10-22 16:53

EngineeringProfit

18,122 posts

Posted by EngineeringProfit > 2019-09-06 13:00 | Report Abuse

Attend as many courses that you need....

......gain as much knowledge as you need

BUT NEVER FORGO DOING INITIAL PAPER TRADING*.




*Paper trading (sometimes also called "virtual stock trading") is a simulated trading process in which would-be investors can 'practice' investing without committing real money. This is done by the manipulation of imaginary money and investment positions that behave in a manner similar to the real markets

EngineeringProfit

18,122 posts

Posted by EngineeringProfit > 2019-09-06 13:20 | Report Abuse

I beg to differ.......

......of course, best practice to make profits is to buy only when the market os clearly bullish

and patience is virtue for traders

......I think this is the best time for new ones to learn....

the challenge of trading during this unique time......once in a century




..........on paper only pls, of course.

Moore

36 posts

Posted by Moore > 2019-09-10 12:31 | Report Abuse

Here are fews characteristics of a great trading course >>

1. Taught by a professional
2. The course offers educational support tools.
3. The course covers the specific topics you’re interested in
4. The claims the course is making are reasonable


Note: When decide to take trading courses, you should consider only those that were created by someone with many years of trading experience.

Riziq31

10 posts

Posted by Riziq31 > 2019-10-22 16:08 | Report Abuse

Hi,

I have gone through many courses so far in Singapore. I have benefited from it, especially in learning trading fundamental and risk management.

I'm not trying to promoting anything. But have you all know SNAP Academy Singapore?

Moore

36 posts

Posted by Moore > 2019-10-22 16:22 | Report Abuse

Recently I have attended a trading seminar by the Snap Academy in Jakarta, the teacher gives some suggestion how to step up as a professional trader to make consistently profit

Why do you want to join the courses?

laychee

1,743 posts

Posted by laychee > 2019-10-22 16:34 | Report Abuse

A lots of money...

Riziq31

10 posts

Posted by Riziq31 > 2019-10-22 16:36 | Report Abuse

Seriously? What a coincidence.

I'm not saying I want to join though. Just asking if people in here know it or not.

Moore

36 posts

Posted by Moore > 2019-10-22 16:53 | Report Abuse

Yep, they're reputable trading academy

Mostly, a seasoned trader wouldn't suggest you to join a paid course, but if you need it and wanted to learn from experienced trader that's a good choice

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