Day trading can be simple, but don’t make the mistake of thinking that it’s easy.
I know that there are many websites and late night infomercials that try
to tell you differently. They make you think that you just have to read a
few pages or attend an online class, and then, magically, you’ll become a
successful trader, don’t be fooled.
Like in any other profession, you need solid education and knowledge
before you get started. After all, the goal is to make more money than
a lawyer or a doctor, but many aspiring traders expect to learn everything
they need to know from an eBook that they might get somewhere on the internet,
most likely for free. How could a small amount of free information
teach you to make more money than people who have gone to school for
years and years?
Right, the answer is, it can’t.
Some aspiring traders think they don’t have to learn a single thing. They
believe that they can buy a “magic system” or “MAGIC software” that will
place their trades for them and make them rich while they sleep. Or they
rely on the advice of some “guru” for their trading decisions, blindly
following his recommendations without knowing anything about the
I’m glad you’re different, you’re serious about becoming a successful day trader.
You’ll learn a lot of facts and concepts about day trading,
and become the trader you want to be, you’ll have to adapt the
ideas that you’re about to learn to what you already KNOW.
Socrates said that “Learning is remembering.”
And Richard Saul Wurman says:
“Facts in themselves don’t solve the problem. Facts are only
meaningful as they relate to a concept you can grasp.
New ideas are not so much discovered as uncovered by moving from
what you already understand into the realm of what you would
like to understand.”
Here is an example:
I moved from Netherlands to the U.S. in 1961, and one of my first investments
here was buying a house. It should have been no problem – I mean, we
do have houses in the Netherlands. It’s basically the same process, right?
Right, but where I come from, we measure in meters and kilometers.
So, you can just imagine my confusion when my realtor started describing lot sizes
in quarter-acre, half-acre, etc. What the heck? How big is an acre?
Of course, I didn’t want to ask – no one likes to seem ignorant – but I
looked it up. An acre is 43,560 square feet. Great. That didn’t really help
me. Now I knew the exact measurements, but I still couldn’t picture the
exact size of “an acre” in my head. I had no frame of reference.
But, I have it now. A friend of mine told me that an acre is about the size
of an American football field without the end zones.
Proof. Understanding. A frame of reference.
The same is true in trading. You might already know many of the
concepts (e.g. that you should use a stop loss).
There might be some concepts that are new to you (e.g. using a time-stop
when exiting a trade).
I’ll present all of these concepts in a very practical way.
Remember Socrates: “Learning is remembering.”
Objective: Free training on this website will save you
both money and time when it comes to your trading goals.
I’m convinced that it will help you become the trader you
want to be.
Much success and significance with your life and day trading.