All About Day Trading covers all aspects of the subject, explaining how day trading works, how it fits into the larger world of the financial markets, and how to navigate its hazards. It takes you through the fundamentals and then moves on to more advanced topics—providing a fully rounded outline that will get you going in no time.
The day trading game is all about making money. On the surface it would seem that there isn’t much more to day trading than making money. To some individuals, however, day trading is more about the challenge and the excitement than it is about the money. Every day our lives present us with many challenges. There are numerous ways in which we can put ourselves in the position of being challenged. Day trading in my view is not something we should do for the challenge. While it is true that a great deal of satisfaction can be gained from being a successful day trader, we must not enter into the day trading game for the purpose of meeting a challenge but rather for the purpose of achieving financial victory.
Given the vast increase in volatility during the 1990s and 2000s, there are more opportunities to profit from large and even small intraday changes now than ever before. At the same time, commissions, computers, and communications costs are also lower than ever before. That combination has created a win-win situation, but only for those who are able to master the game. This, of course, leads to the inevitable question, how do we master the day trading game?
There are literally hundreds of ideas out there in the trading world about how to win as a day trader. A keyword Internet search on the term day trading yields 44,800,000 results. That is truly a staggering number; were we to track down every lead, it would leave us no time to actually day trade. And so the good news is that there’s a great deal of information out there about day trading. The bad news is that there is so much information, it is impossible to critically assess the accuracy and validity of all of it. Finally, we come to the worst news: I estimate that over 98 percent of the methodologies offered or purported to be successful are neither objective nor profitable.
- What the Day Trading Game Is All About
- Why Day Trade?
- How to Do It
- The MA Channel Method of Day Trading
- Day Trade Swing Trade Examples in Stocks, Futures, and Forex
- The 30-Minute Breakout
- What Not to Do
- Risk, Reward, and Profit-Maximizing Strategies
- What You Will Need to Facilitate Success
- The Flat-Base Breakout for Day Trading
- Momentum as a Day Trading Method: Two Applications
- Almost a Day Trade: Preholiday Seasonality
- Day Trading Do’s and Don’ts
- High-Frequency Trading My Way
- Critical Elements for Success as a Day Trader
- Use the News–Don’t Abuse the News
- A Case Study: Facebook