Chapter 1

So You Want to Be a Day Trader

In This Chapter

arrow Figuring out just what day traders do

arrow Setting up a trading business

arrow Concentrating on a few assets, a few dollars at a time

arrow Knowing what being a successful trader takes

arrow Dispelling a few day-trading myths

Make money from the comfort of your home! Be your own boss! Beat the market with your own smarts! Build real wealth! Tempting, isn't it? Day trading can be a great way to make money all on your own. It's also a great way to lose a ton of money all on your own. Do you have the fortitude to face the market every morning?

Day trading is a crazy business. Traders work in front of their computer screens, reacting to blips, each of which represents real dollars. They make quick decisions because their ability to make money depends on successfully executing a large number of trades that generate small profits. They close out their positions in the stocks, options, and futures contracts they own at the end of the day, which limits some ...

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