subject: Career In Trading [print this page] There are rumors that actually make the day traders feel bad. These hearsays point out that there is no money in day trading. Such a fallacy! Of course, these gossips have alerted the individuals who are surely making lots of profit from the said course of trade. At this point in time, stocks, futures, forex, options, and currencies can be traded by almost any individual. Overall, there are people who can prove that there really is money with day trading.
The trading market generally involves a lot of complications. If you as the day trader will not exercise some caution in trading with several companies, you may be positively going all the way to your own generated pitfall. You are also then obligated to come up with a solid foundation in line with the strategies that you will have to employ as you go through the process of trading.
Of course, there are risks associated with trading e mini futures contracts, and deliberate money management techniques must be implemented along with very exacting trading technique in order to be successful. In short, it takes discipline and experience to be a successful futures trader. But it can be done.
There are a large number of successful traders in the United States, but they seem to be a quiet bunch and go about their business without fanfare or accolades. These folks are interested in making a great living and, by and large, do so without braggadocio or drawing excessive attention to themselves. Needless to say, there are a few braggarts out there. I always seem to meet them at cocktail parties and endure hours of explanation on their trading technique and the millions they have made in the market. I seem to attract them. I don't know why, but cats seem to feel the same way about me. I prefer the cats.
A good way to learn day trading is with a test account; ideally with some sort of teaching program. You'll be in a situation where someone who's looking at the same market data you are explains what signals they saw, and explains how they made their trades, and why. The mechanics of day trading are simple, and in a lot of cases, highly automated. The actual strategy comes from reading the tea leaves of opening and closing prices on stocks or equities in the sector you're studying.
Many of these equities will follow specific patterns that can be tracked, and predicted...most of the time. Knowing when the market has 'gone out of the predictable phase' is also an important lesson to learn. Just like playing poker, sometimes the winning play is to fold early when you don't like the looks of the signals you're getting.
Day trading career success comes from education, it doesn't come in a box, it doesn't come from an automated program. Don't believe any day trading program that talks about how you can make money easily. Day trading is a job, it's a job that requires a certain attention to detail, a certain degree of monomania, and a certain willingness to take risks.
