Day Trading – 99% Fail – Find Out Why is one of the finest articles about Stock Trading. There are numerous posts on the net that discuss Stock Trading, Day Trading – 99% Fail – Find Out Why one of which we suggest for you. Ideally the posts that individuals communicate under can be useful, increase understanding and be described as a option for you.
I have been day trading now for 10 years. I blew up 2 accounts – one $30,000 and another $37,000. I was in the 99% group that never make it day trading. Thing is I am relatively smart, college education man with a 140 IQ, and yet I still blew up two accounts.
I wrote this article for any one interested in day trading to help make a decision. They will either learn to be part of the 1% winners that will be able to day-trade (from anywhere in the world) or be one of the 99% that will fail and blow up their accounts. So if your serious about trying to day trade read on.
Now truth be told I went into day trading for a few years with no education. I soon realized after blowing a few thousand on penny stocks that there really was no riches to be found there.
Then off to the internet to get the wisdom of the collective. That is a dead end and their information is defective. In fact Day trading is a Trillion dollar a year business, do you think anybody on the internet is going to give you day trading advise that is correct? Almost every thing on the internet that you read about day trading, or trading stocks at all is false, and designed to help remove your money from your wallet.
How about books? Yes there it is! I will read some books and be able to trade stock like Jim Cramer… (BTW read all of his stock trading books) thing is Jim Cramer is a television entertaining clown and would probably not be on television if he is really was what he says he is, Harvard education and all.
Really put this to the test, watch his show, then watch what happens to the stocks he mentions. Not even right on 50%. All he will help you do is lose money faster then your popsicle melting on a 95 degree day.
I even took some private classes and paid a handsome fee to be told how to trade. One that comes to mind is Wall Street Basics run by Gary Williams. Not that the classes were half bad but they were not what one needs to learn day trading. They took me down a road of continued education. But I still lost my day trading accounts, as will you if you dont follow my instructions here.
So whats the answer i asked my self staring out the window of my caretaker home overlooking the Caribbean Sea (a job I took to make enough money to open another trading account)?
Truth Is I needed a mentor, that’s when the rubber hit the road and my brain started smoking. How in the world would I pick someone? Someone who already was in the trenches and trading every day, and why in the world would they mentor me? There it is, that’s what came to my mind…
Here are the biggest problems that day traders will face.
Now having day-traded for at least 4 months or so I could tell the phonies from the ponies. There are a bunch of guys out there that are pretenders. They look at a screen and tell you when to buy and when to sell. Its like the old adage ” If you want to feed a man for a day you give him a fish, if you want to feed him for a life time you teach him how to fish”
I have added a link in the resource box that is a direct link to the only day trading source that I trust or would use on the internet.
It took me two years to find Mark, don’t make the same mistakes that I made. Mark gives away a free day trading guide that is second to none
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