my journey as a day trader, page-28

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green potato

18,003 Posts.

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04/04/18

15:13

Post #: 32216677
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Originally posted by TraderRR ↑

Finding the inner passion for trading

You either have a passion for this or you don't. The earlier you realise your passion the earlier you need to let it grow into a successful "business". I opened a trading account the day I turned 18, I had a passion to make money and I saw it as a way to "get rich quick". It takes years of losses to figure out that its not a "get rich scheme".

Years of losses

If you think you can learn from reading a book or following what people buy on here you may get lucky once, twice or three times but eventually your trading account with crumble into pieces. Practice and experience. There's no easy way to trading, you need to practice to gain experience like anything in this world. You need to endure losses to realise what you are doing wrong. I have blown my account three times in my junior years before I kept asking myself "why?" figuring out "why". So the next time you have a losing trade ask yourself that question. Explore a bit further, find out why it became a losing trade?

Look for the trade of the day

Professional traders look for volume. Each day there are only a handful of high volume spec stocks to trade. Find the stock that does great volume early in the morning. Look for the professional "money". Get in early and wait it out till the end of the day. Professionals will get in early and offload it towards the end of the day. The middle of the day, is just "smart" or you can call "dumb" traders trying to trade it a few times a day and end up paying more than what they bought it for "losing your profits". "Smart money" generally comes in the first hour of the day and leave in the final hour but sometimes could go for a few more days - that would then be your own judgment whether to hold overnight or not.

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Those ppl, r the most factual stuffs ull ever heard from ppl thats been in the market for a while. These kind of posts should be greatly appreciated.
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