Chapter 2
Making a Day Trade of It
IN THIS CHAPTER
Organizing your business
Planning trades to start your day
Making short-term and long-term choices
Raining clichés like cats and dogs
Taking a peek into the life of a day trader
Day trading is sometimes presented as a profitable hobby. Anyone who buys a day trading course via infomercial can make money easily in just a few hours a week, right? Well, no. Day trading is a job. It can be a full-time job or a part-time job, but it requires the same commitment to working regular hours and the same dedication to learning a craft and honing skills as any other job.
The best traders have plans for their business and for their trades. They know in advance how they want to trade and what they expect to do when they face the market. They may find themselves deviating from their plans at times, due to luck or circumstance or changing markets, but in those cases at least they understand why they are trying something else.
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