Summary of just how to Day trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology




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DISCLAIMER:The author and also www.BearBullTraders.com (“the Company”), consisting of itsemployees, contractors, shareholders and affiliates, is no an investmentadvisoryservice,aregisteredinvestmentadvisororabroker-dealeranddoesnotundertake to advise clients on i beg your pardon securities they have to buy or market forthemselves.Itmustbeunderstoodthataveryhighdegreeofriskisinvolvedintradingsecurities.TheCompany,theauthors,thepublisherandtheaffiliatesofthe agency assume no obligation or liability for trading and investmentresults.StatementsontheCompany'swebsiteandinitspublicationsaremadeasof the day stated and are subject to readjust without notice. It need to not beassumed the themethods, techniquesor indicatorspresented in theseproductswill be lucrative nor the they will not result in losses. In addition, theindicators, strategies, rules and all other features of the Company's products(collectively,“theInformation”)areprovidedforinformationalandeducationalpurposes only and should not be understood as investment advice. Examplespresented room for educational functions only. Accordingly, readers must notrelysolelyontheInformationinmakinganytradesorinvestments.Rather,theyshould use the details only together a starting point for doing additionalindependent research in stimulate to permit them to kind their very own opinionsregarding trading and investments. Investors and traders must always consultwiththeirlicensedfinancialadvisorsandtaxadvisorstodeterminethesuitabilityofanyinvestment.


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TableofContentsChapter1:IntroductionChapter2:HowDayTradingWorksDayTradingvs.SwingTradingBuyingLong,SellingShortRetailvs.InstitutionalTradersHighFrequencyTrading(HFT)TradetheBest,LeavetheRestChapter3:RiskandAccountManagementThree-StepRiskManagementTradingPsychologyChapter4:HowtoFindStocksforTradesStocksinPlayFloatandMarketCapPre-MarketGappersRealTimeIntradayScansRealTimeVolumeRadarRealTimeBullFlagMomentumScannerRealTimeReversalScannersPlanningtheTradeBasedonScanners


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Chapter5:ToolsandPlatformsWhatBrokertoUse?InteractiveBrokersSureTraderTradingPlatformRealTimeMarketDataNASDAQLevel2andBid-AskIndicatorsonmyChartsBuyandSellOrdersMarketOrdersLimitOrdersMarketableLimitOrdersHotkeysWatchlistandScannersCommunityofTradersChapter6:IntroductiontoCandlesticksPriceActionandMassPsychologyBullishCandlesticksBearishCandlesticksIndecisionCandlesticksSpinningTopsDojis:Simple,ShootingStar,HammerCandlestickPatterns


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Chapter7:MostImportantDayTradingStrategiesTradeManagementandPositionSizingStrategy1:ABCDPatternStrategy2:BullFlagMomentumStrategies3and4:ReversalTradingBottomReversalTopReversalStrategy5:MovingAverageTrendTradingStrategy6:VWAPTradingStrategy7:SupportorResistanceTradingStrategy8:Red-to-GreenTradingStrategy9:OpeningRangeBreakoutsOtherTradingStrategiesDevelopYourOwnStrategyTradingBasedontheTimeofDayChapter8:Step-by-SteptoaSuccessfulTradeBuildingaWatchlistTradingPlan(entry,exit,andstoploss)ExecutionHowDidIDoIt?Chapter9:NextStepsforBeginnerTraders


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TheSevenFundamentalsforDayTradingEducationandSimulatedTradingTradinginaSimulatorPreparationHardWorkPatienceDisciplineMentorshipandaCommunityofTradersReflectionandReviewMyDailyBlogandYouTubeVideoRecapsFinalWordsAndrew’s11RulesofDayTradingGlossary


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Chapter1:IntroductionIn thisbook, Iexplain thefundamentalsofday tradingandhowday trading isdifferent native other formats of trading and also investing. In the process, ns alsodescribeimportanttradingstrategiesthatmanytradersuseeachday.Thisbookisdeliberatelyshortso readerswillactually complete reading itandnotgetboredhalfway through and also put it come one side. We are all distracted by Internetdiversions,emails,FacebookorInstagramnotifications,or thedozensofotherappsthatwehaveonoursmartphonesortablets.Therefore,thisbookisconciseanditispractical.Ifyouareabeginnertrader,thisbookwillequipyouwithanunderstandingofwheretostart,howtostart,whattoexpectfromdaytrading,andhowyoucandevelop your very own strategy. Simply reading this book will not make girlfriend aprofitabletrader.Profitsintradingdonotcomefromreadingoneortwobooks,but, as Iwill describe later, profits deserve to comewith practice, the appropriate tools andsoftware,andproperongoingeducation.Ihaveincludedatthebackofthislatesteditionofmybookahandyandhelpfulglossaryofthemostcommontermsyouwillcomeacrossindaytrading.If,asyouarereadingthisbook,youcomeacrossatermorphrasethatyoudon’trecallthemeaningof,pleasegoandhavealookatitsdefinitionintheglossary.I’veusedeasytounderstandlanguagetoexplainthe“lingo”ofdaytraders.Intermediate traders may advantage from this book’s outline of several of theclassicstrategies that themajorityof retail tradersuseeffectively. Ifyoudon’tconsider yourself a novice trader, then youmaywish to run ahead and also startreading at thing 7 for an overview of the most vital day tradingstrategies. However, ns encourage you to skim with the previously chapters aswell. Ending up being a consistently profitable traderwill not call for you tomastercomplicatednewtradingstrategieseveryday.ThestrategiesinChapter7aretheonesthattradershaveusedforoveradecade.Theyhaveworkedsofarandneedto be mastered.Work on simple well-known strategies, but change them overtime to match your very own personality and whatever the existing marketconditionsare.Successintradingisnotarevolution,itisanevolution.


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Inmyopinion, themost necessary lesson thatyoucan learn from reading thisbook is the you will certainly not acquire rich easily by work trading. Work trading is notsimilar come gambling or playing the lottery. This is the most importantmisconceptionthatpeoplehaveaboutdaytradingandIhopeyouwillcometothesameconclusionafterreadingthisbook.Daytradinglooksdeceptivelyeasy.Brokers do not generally release customer statistics to the general public but, inMassachusetts, a state court go order the release of the documents of financialbrokers.Those records shown that after ~ sixmonthsof trading,only16%ofday traders in reality made money. That is an extremely easy come be among those 84% oftraderswhoarelosingmoney.Thisbringsyoutomyfirstruleofdaytrading:Rule1:Daytradingisnotastrategytogetrichquickly.Averycommonmisconception thatpeoplehaveaboutday trade is the it iseasy: “buy low, offer high” or “buy the dip, market the rally”.Again, job tradinglooksdeceptivelyeasy,butitisnot.Ifitwerethatsimple,everyonewouldbeasuccessfultrader.Youmustalwaysrememberthatdaytradingisdifficultandwillnotmakeyourichquickly.Ifyouhave thismisconception, and also if youwant to acquire rich quickly and easily in thestockmarket,youshouldstopreadingthisbookrightnowandspendthesavingsthatyouputasidefordaytradingonanicefamilyvacation.Itwouldbemuchmoresatisfyingtospendyourmoneythatway,ratherthanlosingitinthestockmarket.Havingmentionedallofthesepoints,daytradingcanbeaprofitableprofession.But store in mind that it’s a highly demanding expert career and mostdefinitely no a casual task for beginners. The takes time to come to be aconsistentlyprofitabletrader.Manytraderswillfailinthelongandattimesfataldaytradinglearningcurve.Chapter 9 concentrates on the real actionable measures you must take come successfullyenter the people of day trading, yet again beware the day trading requirements abrutal learningcurve.Therearemany points thatyoucando tospeedupyourlearningcurve.Butyouunfortunatelycannotmakethelearningcurvedisappear.Tradinginasimulatoraccountisexpeditingyourlearningcurveexponentially.


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How to Day trade for a Living: A Beginner’s guide to commerce Tools and also Tactics, Money Management, Discipline and Trading Psychology
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The new Trading for a Living: Psychology, Discipline, trading Tools and also Systems, threat Control, trade Management
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The brand-new Trading for a Living: Psychology, Discipline, trading Tools and also Systems, hazard Control, Trade management (Wiley Trading)