How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology

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Description

Very few careers can offer you the freedom, flexibility and income that day trading does. As a day trader, you can live and work anywhere in the world. You can decide when to work and when not to work. You only answer to yourself. That is the life of the successful day trader. Many people aspire to it, but very few succeed.

In the book, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day. I’ve kept the book short so you can actually finish reading it and not get bored by the middle.

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:

  1. ABCD Pattern Trading
  2. Bull Flag Momentum Trading
  3. Top Reversal Trading
  4. Bottom Reversal Trading
  5. Moving Average Trend Trading
  6. VWAP Trading
  7. Support and Resistance Trading

For each strategy, I explain:

  1. How to find the Stock in Play for trade
  2. What indicators I am using on my charts
  3. When I enter the trade
  4. When I exit the trade (profit taking)
  5. What is my stop loss

 

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