Forex Highlights

Learning about day trading is fun

I thought my brother had lost his mind when he decided to quit his job and become a full-time day trader. Gerald is well known for always approaching things carefully and never doing anything in a reckless manner. But in less than a week he quit his job at the bank and began working out of his home office. I didn’t know what to say to my brother. My brother always was my role model, so I couldn’t point out his faults.

However, when I remembered my little nieces, I thought I should take a step back and inquire. One weekend when I got to his home I asked him what was up. Why, I asked, had he thrown away a good job with a fine salary and great benefits? Gerald simply smiled and responded in his usual cocksure way that he knew what he was doing. At this point, I almost went out of control. I told my brother I thought he was selfish and that he had to think about other people for a change. I thought twice as soon as I spoke those words, however my brother only smiled and agreed with me.

{Though I had almost no interest in the stock market, Gerald pulled me aside later that evening and insisted on explaining to me why he had decided to become a day trader.} To me it was all Greek. I wasn’t really interested in day trading or the market. But my brother told me it wasn’t all black magic. He said there was a definite rhyme to his reason.

I listened to his spiel. Day traders that were successful, he said, usually only watched one or two stocks at a time unless they use a day trading robot. It could sometimes take watching a stock for several months before deciding if it was worth it for them to trade it. In the end, it all came down to patterns. My brother said that there were patterns that each stock moved in on a daily basis. You can’t really set your watch by these patterns, but they give a good hint to brokers about what the stock price will be in the future.

So now you know the secret to my brother’s success with money.  He never bet too heavily or put all of his eggs in one basket, but rather purchased small quantities of equities he thought would appreciate in price and watched them until it was time to sell. It was not uncommon, he said, for him to trade the same stock dozen of times a day.  In the end, a successful day trade was all about short term results and something that could be repeated several times a day.

This got me interested in learning how to day trade as well.I am really lucky my brother is patient and a good teacher, as I now have a mentor to teach me what I need to know about day trading.While I do not expect to be as successful as my brother has, if I could just get proficient enough to earn some extra money that would be great.I really am glad I took the leap and learned about trading the stock market.

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Technorati Tags: day trade, day trading, day trading robot, daytrading, stock market, stock trading robot, trading stocks

Tags: day trade, day trading, day trading robot, daytrading, stock market, stock trading robot, trading stocks

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