Chapter 1
Waking Up to Day Trading
IN THIS CHAPTER
Figuring out just what day traders do anyway
Being committed to a trading business
Concentrating on a few assets, a few dollars at a time
Knowing what it takes to be a successful trader
Dispelling some of the myths of trading
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. Are you cut out to take the risk?
Day trading is a crazy business. Traders work in front of their computer screens, reacting to blips, each of which represent 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. Because they close out their positions in the stocks, options, and futures contracts they own at the end of the day, some of the risks ...
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