Day Trade Your Life Away

By Myer Thompson

There is no room for mistakes. In fact, never make the mistake of thinking day trading is something you can dabble in. It is not a dabbler's field. Though you think you might have a great hunch or have the inside scoop, one bad trade could wipe you out. Losing all the money you ever had is not an experience that lifts people from the doldrums of their day-to-day lives.

There are no quick fixes and no easy answers. Though the high point of day trading as a means of making a buck had its heyday in the late 1990s, people still think they can make the crucial decisions that can help grow their financial portfolios. For the most, this may true. There are some very successful day traders who do their homework, invest widely, and don't jump the gun when it comes to downturns and losses.

Making a good run boils down to one thing: knowing the score. The key to their success is a fair amount of learning. You can't expect to pass a test without studying. You can't expect to make a career -- or even a lucrative pastime -- out of day trading without knowing the terms and best practices. You wouldn't just start taking your car engine apart. Why would you just start day trading without having the necessary skills?

Men and women don't do this just for the sheer thrill. In fact, what drives most day traders is a sense of control and deep desire to not be taken advantage of. People have a difficult time believing what happens at large brokerages. There is a massive gray area that dominates the minds of most investors. Is by broker qualified? Am I being taken advantage of?

Putting the kibosh on these pesky questions is what tends to drive people into take charge of their time investing in the Stock Market. If you're going to lose, it may as well be you making the decisions. The key to not losing, whether you're doing this all by yourself or not, is knowing the tricks of the trade. That you can only get from the professionals. - 31970

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