Welcome to Day Trading Guide
Stock Day Trading Article
This is a selection made from among articles on Stock Day Trading. For a permanent link to this article, or to bookmark it for future reading, click here.
ÿþG e t A w a y w i t h L u c k : M u s t D o s f o r B e g i n n e r s W h e n D o i n g F o r e x D a y T r a d i n g
from:L u c k i s d e f i n e d a s t h e t e n d e n c y o f a n i n d i v i d u a l t o b e p e r s i s t e n t l y f o r t u n a t e o r u n f o r t u n a t e o n m a t t e r s i n s o m e s p e c i f i e d s e t o f c i r c u m s t a n c e s . P e o p l e o f t e n t i m e s r e l y o n l u c k i f t h e y h a v e b e c o m e u n p r e p a r e d o n t h i n g s w h e r e i n t h e y s h o u l d h a v e b e e n p r e p a r e d .
T h e y s a y t h a t f o r e x d a y t r a d i n g i s a g a m e o f c h a n c e w h e r e m o s t o f t h e t i m e t r a d e r s d e p e n d o n l u c k . H o w e v e r , o t h e r s s a y b e i n g f u l l y e q u i p p e d w i l l t e a c h y o u h o w n o t t o b e o v e r l y d e p e n d e n t o n l u c k . B e i n g p r e p a r e d w i l l l e a d y o u t o y o u r o b j e c t i v e t o t r a d e w e l l a n d g a i n p r o f i t .
B e E d u c a t e d
E d u c a t i o n i s o n e t h i n g t h a t c a n n o t b e t a k e n a w a y f r o m y o u . I t i s o n e o f y o u r p e r s o n a l a n d s i g n i f i c a n t a s s e t s i n y o u r l i f e . H e n c e , i f y o u w a n t t o s u c c e e d i n f o r e x d a y t r a d i n g i n d u s t r y i t i s i m p o r t a n t t o d e v o t e t i m e s t u d y i n g t h e f o r e x m a r k e t a n d i t s c o m p o n e n t s .
T h e r e a r e s e v e r a l w a y s t o b e e d u c a t e d w i t h r e g a r d s t o f o r e x d a y t r a d i n g . Y o u c a n e n r o l l o n a s e m i n a r - w o r k s h o p . O t h e r f o r m s o f l e a r n i n g a r e t h r o u g h v i d e o - s t r e a m i n g t u t o r i a l s , o n l i n e r e s o u r c e s s u c h a s e - b o o k s a n d t a l k i n g o v e r w i t h b r o k e r s .
B e S o f t w a r e - O r i e n t e d
Y o u n e e d t o b e a w a r e o f t h e i m p o r t a n t t o o l s w h i c h m a k e f o r e x t r a d i n g p o s s i b l e . O n e i m p o r t a n t t o o l i s t h e s o f t w a r e . T h e r e a r e t w o t y p e s o f s o f t w a r e c o m m o n l y u s e d i n f o r e x t r a d i n g , ( 1 ) w e b - b a s e d s o f t w a r e ; a n d ( 2 ) c l i e n t - b a s e d s o f t w a r e .
O n c e y o u h a v e s e l e c t e d t h e r i g h t a n d w e l l - s u i t e d t o o l t h e n i t w i l l m a k e y o u r j o b e a s i e r . Y o u c a n c o n c e n t r a t e d e v i s i n g p l a n s a n d s t r a t e g i e s t o c a r r y o u t y o u r o b j e c t i v e s .
B e R e a d y w i t h a P l a n
P l a n n i n g m a k e t h i n g s r i g h t , i f n o t p e r f e c t . W i t h a p l a n , y o u k n o w w h e r e y o u a r e h e a d i n g . Y o u d o n o t s i m p l y g o w h e r e t h e w i n d b r i n g s y o u .
T r a d i n g i s a g a m b l e ; h o w e v e r w i t h e v e r y g a m b l e t h e r e i s a h i d d e n s t r a t e g y y o u t o h e l p y o u w i n . H e n c e , y o u m u s t p l a n . Y o u n e e d t o s e t g u i d e l i n e s a n d p l a n f o r t h e f o l l o w i n g f a c t o r s :
§ð H a v e y o u r o w n o b j e c t i v e s p a t t e r n e d a f t e r f o r e x t r a d i n g m a i n g o a l s .
§ð S e t t l e o n a s p e c i f i c a m o u n t o f m o n e y t h a t w i l l b e u s e d a s c a p i t a l .
§ð E s t a b l i s h y o u r e x p e c t e d p r o f i t f r o m t h e p r o f i t t r e n d i n t h e m a r k e t .
§ð D e c i d e o n s t e p s t o d o w h e n y o u a r e o n t h e l o s i n g e n d .
Y o u s h o u l d n o t s e t t l e w i t h o n e p l a n o n l y s i n c e t h e m a r k e t v a r i e s . Y o u r p l a n s m u s t c o m e i n t o a g r e e m e n t w i t h w h a t t h e m a r k e t d i c t a t e s .
B e C o n t r o l l e d
A l o n g w i t h y o u r p l a n , i t i s a d v i s e d t h a t y o u i n c o r p o r a t e s e l f - d i s c i p l i n e w i t h i n y o u r s e l f . T h e r e a r e i n d i v i d u a l s w h o c o n t i n u e t o d i v e r t f r o m t h e i r p l a n s o n c e t h e y s t a r t w i n n i n g . O t h e r s s c r a p o f f t h e i r p l a n i f t h e y s t a r t l o s i n g . R e g a r d l e s s o f t h e o u t c o m e , s t i c k w i t h y o u r p l a n . D o n o t l e t y o u r e m o t i o n s r u l e o v e r y o u r m i n d a n d t h e p l a n s y o u h a v e a r r a n g e d .
I f f o r i n s t a n c e , y o u r p l a n f a i l s y o u t h e n i t i s b e s t t o l e a r n f r o m y o u r m i s t a k e s a n d m o d i f y y o u r p l a n s . R e m e m b e r n o t t o f a l l i n t o a n e m o t i o n a l t r a p , o r y o u w i l l b e d o o m e d t o g r e a t e r l o s s .
T h e r e a r e t i m e s w h e n t h e m i n d m u s t b e s u p e r i o r a b o v e e v e r y t h i n g e l s e , w h e r e e m o t i o n s d o n o t h a v e a r o o m f o r d i s t i n c t i o n . I t w o r k s t h i s w a y w i t h f o r e x d a y t r a d i n g . L u c k m a y c o m e k n o c k i n g a t t h e d o o r b u t y o u n e e d n o t i n v i t e i t i n . C l o s e i t i f y o u c a n . Y e s , t r a d i n g m a y b e a g a m e o f c h a n c e f o r o t h e r s b u t y o u c a n m a k e t h i n g s h a p p e n j u s t t h e w a y y o u p i c t u r e i t .
B e i n g g e a r e d u p w i l l l e a d y o u t o t h e r i g h t p a t h .
Stock Day Trading News
Facebook stock slide deepens on 3rd trading day
Facebook's newly public stock is sliding further on its third trading day as investors reconsider how much the social network is worth.
Read more...Facebook stock slide deepens on 3rd day after IPO as investors reassess company potential
NEW YORK, N.Y. - Facebook's newly public stock is sliding further on its third trading day as investors reconsider how much the social network is worth.
Read more...Facebook stock plummets on second day of trading
SAN JOSE, Calif.— After Facebook stock narrowly stayed above the initial public offering price during its first day of trading, the price fell hard and fast Monday, knocking more than 10 percent off the company's record-breaking initial valuation.
Read more...Facebook stock slips again on third day of trading
Shares of social network slid another 7 percent in early trading Tuesday
Read more...Facebook stock down on third trading day
Facebook’s stock opened Tuesday at $32.59 per share, down on its third trading day from its $45 high on Friday, the first day of its rocky entry into the stock market.
Read more...Where are Facebook's friends? Stock slide deepens
Facebook's newly public stock is sliding further on its third trading day as investors reconsider how much the social network is worth.
Read more...Facebook stock off 11% on second day of trading
Facebook stock off 11% on second day of trading COMBINED NEWS SERVICES Published May 21, 2012 06:42PM MDT Facebook Inc. shares skidded on their second day of trading on Wall Street Monday, falling below the initial public offering price of $38 and knocking 11 percent off the company’s record-breaking initial valuation. Facebook executed its highly anticipated IPO Thursday evening, pricing shares ...
Read more...Facebook stock sinks 11 per cent, to below IPO price, in 2nd day of trading as public company
Facebook's stock is tumbling well below its $38 IPO price in the social network's second day of trading as a public company on Monday.
Read more...