Becoming a successful day trader. Part 2

Welcome back! If you read part one already you’ve been briefly introduced to the two gentleman who’ve learned how to day trade successfully. Now I’d like to share what I have learned which is undoubtably what these men have learn too. The foundations of becoming a day trader are very important, as you open a live trading account with Apex, get setup with Ninja Trader and learn to trade in the simulation environment your life will be changed! You can see the potential, that same theme of inspiration I get when I heard the stories of successful traders who’ve been doing it for so long. Trading in simulation is great, I did that for two months before I jumped in live. Even to this day I have a practice of what I call ‘testing the waters’, when I open Ninja Trader I study the charts for a while, if things are moving pretty fast and I feel like I have an understanding of the trend I’ll jump in. If my trade in sim (simulation) is successful I’ll quickly jump in with my live account.

The secret sauce

Once you feel comfortable trading in a live account you want to limit your exposure, that is key by the way. The secret sauce to day trading is knowing when to get in and get out. There is a lot we can all learn about this. That concept only scratches the surface as to some of the tricks of the trade, if you’d like to call it that, but it’s the essence of what we’re trying to accomplish, what all day traders try to accomplish, known as the ability to see the ‘right side of the chart’. Mainly that is in part a reason why most traders stick with one instrument, if you begin to learn it’s patterns you can lean into more of a “probable” winning trade instead of a “possible” one.

Limit your exposure

In addition to limiting your exposure we need to begin with a trading plan and stick with it. All successful traders have one, once you begin to build momentum it’s an excellent point of reference to keep what you’ve earned and minimize losses. To keep it simple an example trading plan would look like just doing only three trades per day and/or stopping at a specified profit goal. The key is, limiting your exposure, you never know what direction the market will turn, this is why we practice and ease into our trades. It’s far better to make two hundred bucks than to be two hundred bucks in the negative. There is so much more we can cover here but I want you to keep this in mind, all great things begin small. Stay encouraged and try something new. If you haven’t signed up for an account with Apex Trader Funding yet now is your chance to begin. Use coupon code “TODZFJAF” to save yourself some money. Or click the banner below.

Go BIG and try something new today!

Day Trading Resources