How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology (Stock Market Trading and Investing)
For beginner traders, this book gives you an understanding of where to start, how to start, what to expect from day trading, and how to develop your strategy. Simply reading this book, however, will not make you a profitable trader. Profit in trading does not come with reading a book or two or browsing online. It comes with practice, the right tools and software and appropriate ongoing education.
Intermediate traders may benefit from the book's extensive overview of some of the classic strategies that the majority of retail traders regularly use with proven success. If you think you are beyond the stage of a novice trader, then you may want to jump ahead and start reading from Chapter 7 for an overview of the most important day trading strategies:
Day trading is not gambling or a hobby. You must approach trading very, very seriously. As such, I wake up early, go for a run, take a shower, get dressed, eat breakfast, and fire up my trading station before the markets open in New York. I am awake. I am alert. I am motivated when I sit down and start working on the list of stocks I will watch that day. This morning routine has tremendously helped my mental preparation for coming into the market. Whatever your routine is, starting the morning in a similar fashion will pay invaluable dividends.
For each strategy, I explain:
- How to find the Stock in Play for trade
- What indicators I am using on my charts
- When I enter the trade
- When I exit the trade (profit taking)
- What is my stop loss
Day trading is not gambling. It's not an online poker game. To be successful at day trading you need the right tools and you need to be motivated, to work hard, and to persevere. That's How to Day Trade for a Living.
In "How to Day Trade for a Living," Andrew Aziz, a seasoned day trader and financial educator, provides a comprehensive guide for beginners who aspire to make a living through day trading. This book delves into the intricacies of day trading, equipping readers with the knowledge and strategies necessary to navigate the fast-paced world of financial markets.
Aziz emphasizes the importance of having the right mindset and trading psychology, recognizing that emotions can often cloud judgment and lead to poor trading decisions. He stresses the need for discipline, patience, and the ability to control emotions in order to make informed and objective trades.
The book covers a range of topics crucial for successful day trading, including choosing the right trading platform, understanding market dynamics, selecting stocks with high potential, and employing effective trading strategies. Aziz also discusses risk management techniques, highlighting the significance of setting stop-loss orders to mitigate potential losses.
With easy-to-understand explanations and practical examples, "How to Day Trade for a Living" serves as an accessible guide for aspiring day traders. Aziz shares his insights gained from years of experience, offering valuable tips and strategies to help readers develop their skills and increase their chances of success in the financial markets.
Whether you're a complete beginner or looking to refine your existing trading skills, Andrew Aziz's book provides a comprehensive and practical roadmap for those seeking to make a living through day trading. Its emphasis on mindset, discipline, and effective trading strategies makes it an invaluable resource for anyone interested in pursuing a career in day trading.
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