I like the honesty on this thread. You folks have character, nice change. Yes day trading is tough, very tough. I have been playing with it for approx. 2 years now. Still a novice and am taking my share of beatings. However, I am improving and I do believe one gets better with time and experience. One can become addictive to the excitement.
There are a set of rules that one must abide by when trading, go outside of these rules and you will get burnt. Yeal!! You may get lucky once in awhile, but the odds are against you.
Several months ago I joined the Momentum Trader, mtrader.com Excellent real-time day-trading site. Right off the bat, I ignored Ken Wolfe's rules, and right off the bat, I lost a great deal of money. So.... I decided to read his book a couple more times and some folks in his real-time class room were kind enough to e-mail me a great deal of his training sessions, that he gives daily. I have decided not to re-enter his room until I have read the material that was given to me and am disciplined enough to abide by them. Your best bet is to do the same.
Take his free one or two week introductory offer to watch and learn. Don't trade, just watch. You will be amazed at how professional he is, not like many of the stock hypesters you will see on SI.
A good book that is a must read, on day trading is "The Electronic Day Trader". I believe the cheapest place to purchase it is at Amazon.com.
Don't be in a hurry. The curtain opens every morning. Learn first!!
Good luck,
Gary |
