Tuesday, December 13, 2011

How to Become a Day Trader

I promised I was going to share some insight into trading, though to be honest I'm really not a day trader... yet. I hope you'll join me and share some of your experiences. Here goes. One of the best free sites that I've found is called Swing Trade Stocks.com. The author of the site offers a great basics "course" if you will. The tricky thing is this: even though the overall tendency of the market is predictable according to the Elliott Wave Principle, the daily activity is more volatile. It's kind of like astrology. You look to the stars for signs and seasons to determine the general happenings of things, but to predict something as minute as an atomic shift in space is extremely complicated and pert'near impossible. But our goal as apprentices, is to learn the large circles (or waves) and then work our way inward. So the next step, after checking out the finviz.com to be the best free stock screener with definable fields, then I pull up the charts on stockcharts.com to take a more detailed look at them, and if they look appealing I'll follow them on freestockcharts.com. Finally, we'll need to experiment before we just go and blow our money on something we really don't know a whole hell of a lot about. I found a great stock trading game at How The Market Works.com. I encourage you to try out all of the above and we'll explore each of them a little more in depth in other posts. Good luck and happy trading.

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