How to Day Trade? Trading Education, Education, Education

How to Day Trade: Get the Trading Education You Need

It’s not easy to learn how to day trade without education period. Most people start by reading a book. Others pay big money to attend day trading seminars that can cost more than $10,000 or educational courses that can be even more expensive when all is said and done. THIS IS NOT NECESSARY.   Over the past 2 decades I have learned many things when it comes to learning, trading and education.

1. Education, experience and knowledge are 3 of the most important factors, when it comes to beginning your trading career or help bring it to the next level.  Do not try and save money here by ignoring the importance of education and trying it without education . This is why you need to invest…Education and knowledge is key.

2. Purchase education from educators who trade themselves and not just talk about trading. “Those who can Do and those who can’t Teach.”

I have found excellent and complete trading education for less than $2k that is written by traders who trade everyday. In fact, I can see the educators positions on my screen in real time as I trade throughout the day. I would rather learn from successful trading educators who are willing to apply their knowledge, strategies and education with real capital rather than just talk about it.

Another drawback for the newer trader who has not invested in learning their craft is… “The markets are one of the most competitive places in business” “Thousands of institutional traders, market makers and experienced traders spend every waking minute learning how to take your money. When you step into the market with these traders, it’s naïve (put politely) to think you can instantly trade with the same knowledge or ability they possess.

Day trading success

There are several market conditions, where learned day trading strategies work. When the markets crashed in 2008, some traders  made a lot of money day trading.  In 2008, an extraordinary number of new day traders shorted the market for a period of time. There are definitely times when day trading techniques can be extremely lucrative.”

The challenge, of course, is determining when to get in and when to get out. Even at the end of the 2008 crash, the market bounced so sharply that if you were not managing your risk and capital , you could have blown up your account easily.

How should a day trader begin?  If I was going to become a day trader, I’d find a mentor who has been day trading for at least 5 years with success. The more years of experience in a mentor the better the education.

The best traders that I know have an edge are for the most part hedged in some way.

Hedging strategies are more successful than simply buying an individual bank stock and hoping it goes up. H “edge” ing or diversification, allows you options that straight long and short naked trading does not.

Day trading thoughts

Education, Education, Education……

Is day trading dead?  Not at all, but if you try do and do it without investing in education and knowledge, you will not succeed but if you do it the correct way, you can have yourself a career that some can only dream about.


Final Thoughts and Suggestions:

Find and join the most reputable proprietary trading firm you can and join their group of experienced traders, embrace their knowledge, education and mentorship and begin to trade with the confidence of having an edge.

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Leave a Reply 2 comments

Daniel Reply

Great article. Where to start educating oneself about hedging?

Thank you.

    Pete Renzulli Reply

    Hi Daniel
    We plan to have a few online meetings about topics like this.
    Will send an email to let you know.

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