When I started out taking day trading classes, I thought you would end up picking stocks just like you pick the ponies. Do a little research, find some ones that feel lucky, select your horses and sit back to watch the profits roll in. Boy, was I wrong.
It turns out, you really need day trading strategies to take advantage of daily moves in the market. Warrior Trading breaks down a lot of these strategies. Not all, but enough. To understand everything Warrior has to offer, you want to take their classes.
But you can start for free at their website by learning some day trading terminology. For instance, trading on margin is when you trade with borrowed money. It sounds weird but once you learn the strategy, you can take a trading account with $10,000 and by trading on margin, trade as if you have $40,000. And make that much more profit.
You also can starting to understand some of the trading techniques that the best in the business use every day. But the most important technique to learn is risk management. All the other trading techniques are useless without risk management. You can’t lose what you don’t put out into the market. You would be surprised how many traders have big losses in their history that could have been averted if not for avoidable mistakes.
For instance, every trade you make needs a max loss associated with it. You can build that into every trade you make. All the good traders accept that each trade has a predetermined level of risk and they stay within those parameters. Going outside those risk parameters is, well, risky.
Once you get deeper into their site, you start to learn about momentum day trading and reversal day trading. Those are 2 of the most common trading strategies and every nascent day trader must make it a point to learn those trading techniques. They are the fundamentals. Those trading strategies will tell you what stocks to trade, what time of day to trade them, how to find those stocks and how to set up a stop-loss. Which is an essential part of what we wrote up above: risk management.
Day trading can be a very profitable career. All it takes is the motivation to get started, the wherewithal to stick with it and the vision to manage your risk properly.. Warrior can teach those skills to almost anyone and introduce their students to the tools they need to succeed.