Daytrading can you win money?
yes it's worth if successful
in trading investments don't "win" money, earn it. earn constant hard work
trader must first learn how invest. must know products , markets in trade, how security transactions cleared , more importantly must know rules govern products , markets. must know you’re doing, why you’re doing it, , how it. should start reading “investing dummies” eric tyson.
here’s list of books should consider, @ least read half of them
bulls make money, bears make money, pigs slaughtered, gal lea
how trade in stocks, jesse liver more
millionaire traders, lien & schlesser
1 on wall street peter lynch
reminiscences of stock operator, edwin lifeview
disciplined trader, mark douglas
trader vic-methods of wall street master, victor sprained
trader vic ii-principles of professional speculation, victor sprained
trading living, alexander elder
trading in zone, mark douglas
, when think want trade, try paper trading test skills without spending money http://simulatorinvestopedia.com/ http://www.moneyworks4me.com/
and/or http://www.tradingsimulation.com/
before enter first order need address 4 major policies , have strong discipline follow them
1 - need written sound trading/investment plan rules not more importantly protect you, yourself. use stops either protect on down side or lock in profits on side. never trade on emotions, when emotions involved walk away. don’t try out-smart market, you’ll loose if take market willing give you, you’ll successful. other words, don’t trade against trend since market right. , never trade on emotions, once let emotions in trades loose
2 - written money management program essential. remember never invest 100% of capital 1 security , never have 100% of capital invested. never go trade without knowing when , going out of it. never let loss on trade greater 8%-10%, take loss , walk away - don't loose more need , don't afraid take loss. remember never can hurt taking profit. never average down, can average up.
3 - must have sufficient trading/investment capital. use own money, there’s no need go debt can trade and/or invest. margin can used restraints, never let account wall below 45% equity. unless understand margins should not use it.
4 – full , complete understanding of rules & regulations of industry. if going play in game sure know rules of game , follow them.
unless willing study , follow above never make trader. successful trader takes work , constant study of markets , products traded in markets, there no easy way.
planning in being 1 , know if worth it
Business & Finance Investing Next
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