Day Trading Courses
As a beginner day trader you should follow these rules to give you better odds in entering a position.
Rules Every Day Trader Should Abide By
1. Never sell Short a strong stock at the High of the day. (Top Picking)
2. Never open a Long position at the Low of the Day.
(this is called Bottom
Picking)
3. Never stay in a position more than 5 minutes if it is not
doing what you
thought it would do.
4. Avoid playing stocks that trade Less than 500k shares/daily.
Fact: Statistics show that less than a quarter of day traders make money when they begin trading. In fact most people loose all their money.
Long = Buying a stock.
Positive day - Dow Jones Industrial Average &
NASDAQ COMPOSIT are both Positive.
Short = Selling a stock.
Negative day - Dow Jones Industrial Average &
NASDAQ COMPOSIT are both Negative.
Entry Points
Always go with market sentiment. Wait for a little pull back to trade like the professionals.
This means is is the whole market is down then you should look to find entry points to sell high volume stocks.
If the whole market is up and news is good look at high volume stock you can buy.
These two rules are golden.
Always have a Stop Loss.
The Market is like the wind.
Let it give you direction
before you make a move!
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