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    Day Trading for Beginners: The Complete Guide on How to Become a Profitable Trader Using These Proven Day Trading Techniques and Strategies. Includes Stocks, Options, ETFs, Forex & Futures
    Day Trading for Beginners: The Complete Guide on How to Become a Profitable Trader Using These Proven Day Trading Techniques and Strategies. Includes Stocks, Options, ETFs, Forex & Futures
    Day Trading for Beginners: The Complete Guide on How to Become a Profitable Trader Using These Proven Day Trading Techniques and Strategies. Includes Stocks, Options, ETFs, Forex & Futures
    Ebook182 pages2 hours

    Day Trading for Beginners: The Complete Guide on How to Become a Profitable Trader Using These Proven Day Trading Techniques and Strategies. Includes Stocks, Options, ETFs, Forex & Futures

    By Adam Edwards

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    About this ebook

    If you want to discover everything there is to know about day trading, even if you know nothing at all and start crushing the stock market then keep reading …

    Are you looking for a way to get the extra pennies to pay for your next vacation?

    There is nothing wrong with your car. Yet, a bit more horsepower would make your daily drive to work much more fun.

    The first thing everyone needs to start making money is a plan.

    But, as you know, there is no such thing as a get-rich-quick scheme.

    There is, however, a proven way of creating serious profits that can be done directly from the comfort of your own home...or sitting right at the beach.

    You just need to discover a powerful way of trading millions of ordinary people used before.

    ...and succeeded with to make their smaller and bigger dreams come true.

    Do you even know what 24h trading is?

    It is simpler than you think.

    If you are a day trader, then it means you spend all day trading stocks, options, and commodities.

    You don't need a college degree to understand how to create wealth through day trading.

     

    Even better, you don't need any qualifications at all.

    But you do need to be someone who is ambitious enough to take action.

     

    Day trading is a serious business ... with serious rewards.

    Trading isn't the same as gambling. There are simple rules that you can follow to avoid common mistakes and protect you from risky moves in this business.

    But before you can start crushing it through day trading, there's one simple thing you need to do first.

    Create a plan.

    Then you can take the plunge and make your financial dreams a reality.

    In this book, "Day Trading for Beginners", you will discover:

    •   The 5 most important rules to consider when beginning your day trading journey
    •   The first thing you need to check every morning before you start trading
    •   The essential tips that every beginner needs to know
    •   The types of stocks that will make you money
    •   The types of stocks that you MUST avoid
    •   The #1 thing you need before you can start day trading
    •   How to develop a winning mindset
    •   The shortcuts to avoiding risks and reaping rewards
    •   The best time of the day to do your trading
    •    The 7 essentials for day trading

    And much, much more.

    You know, you can´t call in money while meditating on your bed. You need to execute a strategic plan.

    But you also understand that a well-structured system that is proven to yield significant profits is something that you can follow too.

    You don't have to have a profound intellect.

    You just need to be willing to create a plan and follow it.

    Then you can start trading and see long-lasting results.

    If you want to discover day trading for ordinary people, then you should get this book!

    LanguageEnglish
    PublisherAdam Edwards
    Release dateOct 20, 2019
    ISBN9781393357452

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      Book preview

      Day Trading for Beginners - Adam Edwards

      Day Trading for Beginners

      The Complete Guide on How to Become a Profitable Trader Using These Proven Day Trading Techniques and Strategies. Includes Stocks, Options, ETFs, Forex & Futures

      ––––––––

      Adam Edwards

      © Copyright 2019 - All rights reserved.

      The content contained within this book may not be reproduced, duplicated or transmitted without direct written permission from the author or the publisher.

      Under no circumstances will any blame or legal responsibility be held against the publisher, or author, for any damages, reparation, or monetary loss due to the information contained within this book. Either directly or indirectly.

      Legal Notice:

      This book is copyright protected. This book is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part, or the content within this book, without the consent of the author or publisher.

      Disclaimer Notice:

      Please note the information contained within this document is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, and reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content within this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.

      By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, which are incurred as a result of the use of information contained within this document, including, but not limited to, — errors, omissions, or inaccuracies.

      Table of Contents

      Introduction

      Chapter 1: What Is Day Trading?

      Rules of Day Trading

      Day Trading is a Serious Business

      Day Trading Will Not Help You Get Rich Quickly

      Day Trader is Harder Than it Looks

      Trading is Different from Investing

      You Won’t Win Every Trade

      Chapter 2: Basics of Performing a Trade

      Build Up Your Watchlist

      Must Have Properties

      Criteria to Look for When Developing Your Watchlist

      What to Avoid in Your Watchlist

      Tips for Beginners

      Pay Strict Attention to Your Trading Plan

      Execute Your Plan of Action

      When is the Best Time to Make Your Decision?

      Chapter 3: Finding a Suitable Market

      Selecting the Best Stocks to Trade

      Penny Stocks

      Stocks in Play

      SPDR S&P 500 ETF

      Successful Companies Often Mean Popular Day Trade Stocks

      Factors to Help You Select the Best Stocks

      Volatility and Volume

      Social Media

      Look for Stocks Which Show an Upward Swing

      Chapter 4: Tools and Platforms

      Get Your Education

      Build Your Business Plan

      Make Sure You Have the Right Supplies

      Have Enough Cash

      Find a Broker

      Know Your Rights

      Types of Brokers

      Trading Platforms

      DAS Trader

      Trader Workstation (TWS)

      Lightspeed Trader

      Chapter 5: Seven Essentials for Day Trading

      The Seven Essentials

      1. Education and simulated trading

      2. Preparation

      3. Determination

      4. Patience

      5. Self-discipline

      6. Mentorship and a community of traders

      7. Record-keeping

      Bonus Tips for Beginners

      Make Sure You Have a Budget

      You Don’t Have to Trade Every Day

      You Need to be Flexible

      You Can Access Different Devices

      Chapter 6: Right Mental Mindset to Have

      Key Characteristics of the Winning Mindset

      Realizing You Will Lose Sometimes

      Be Your Own Type of Trader

      Always be Confident in Your Abilities

      You Are Consistent

      You Have Self-Discipline

      You Keep Your Emotions in Check

      Developing the Winning Mindset

      Make Sure You Stick to Your Daily Routine

      Keep Yourself Accountable

      Make Sure You Keep a Positive State of Mind

      You Need to Truly Believe in Yourself

      Chapter 7: Trading Strategies and Techniques

      ABCD Pattern

      Bull Flag Momentum

      Volume Weighted Average Price (VWAP) Trading

      Electronic Communication Network (ECN) and Level II

      1. Candlestick Charts

      2. Line Charts

      3. Bar Charts

      Spread Trading

      Low Profits Comes from Large Volume

      You Will Have a Lower Risk if You Lower Your Exposure

      Smaller Moves are Easier

      Trend Following

      Money Management

      Price

      Diversity

      Risk

      Rules

      News Playing

      Fading

      Stop-Loss Trading

      Range Trading

      Chapter 8: Trading Strategies for Various Financial Instruments

      Stocks

      Currencies

      ETFs

      Futures

      Options

      Forex

      Chapter 9: Fundamental Analysis

      Chapter 10: Technical Analysis

      What You Will Find through Technical Analysis

      Price Charts

      Point and Figure Chart

      Range or Trend

      Technical Analysis and Psychology

      Chapter 11: Managing Risk

      Strategies to Help You Manage Risk

      The 1% Risk Rule

      Don’t Trade Alone

      It’s Fine to Just Cut Your Losses

      Note Other Day Trader Mistakes

      You Find Yourself Trading Too Much

      You Have Unrealistic Expectations

      Not Following Through with Your Post-Trading Analysis

      Not Following Through with Your Pre-Trade Activities

      You Don’t Worry About Your Mental Health

      Believing That Anyone Can Become a Day Trader

      Chapter 12: What Does a Typical Trading Day Look Like?

      Before the Market Opens

      The Morning Stock Market

      The Afternoon Market

      After the Stock Market Closes

      Trading Journal

      Bonus Section: How to Manage Your Time as a Day Trader

      Find a Strategy That Can Become a Part of Your Lifestyle and Personality

      Don’t Try to Force Time

      Keep Away from the Distractions

      Find a Way to Systematically Learn All the Information You Need to

      Always Make Time to Look at the Charts

      Chapter 13: Understanding the Terminology

      Conclusion

      Bibliography

      Introduction

      Before I begin, I want to thank you for purchasing this book as part of your trading research. I have spent a lot of time compiling some of the best sources from books to online resources in order to create one of the best beginner’s guides for day traders.

      This book is more than just a beginner’s guide for anyone who wants to look into day trading. Not only will I discuss what day trading is, but I will also inform you of strategies, all the basics, the tools you will need, tips, how you can manage risk and much more!

      In the first chapter, I will focus on what day trading is. Throughout this chapter, you will learn a few basic rules of day trading and the difference between trading and investing.

      In the second chapter, I will talk about some of the basics you will look for when you start performing your trades. You will learn about what a watchlist is and what this list involves, how you need to have a trading plan you will stick to, and how to implement that plan.

      There are a lot of different stocks when it comes to day trading. While it would be impossible for me to discuss all the different types of stocks you can take on as a day trader, I am going to take the time to discuss some of the most common stocks, such as penny stock and stocks in play in chapter three.

      Chapter four is going to give you information about the platforms and tools that you will find as a day trader. Some of the tools involve preparation work before you become a trader, such as getting your education and building your business plan. In this chapter, I will also discuss the types of brokers you can look for along with your rights when it comes to working with your broker. From there, I will discuss a few different trading platforms to help give you an idea on what your broker might use or what you might want to install on your computer yourself.

      Chapter five is going to focus on some of the tips and essentials that are important to note as a day trader. In this chapter, there are seven basic essentials, such as preparation, determination, finding a mentor, patience, and self-discipline that I will discuss in detail. From there, I will end the chapter with a few bonus tips for beginners. These tips come from experienced traders who wanted to give their advice on what you should do as a beginner.

      Chapter six is going to dig a bit into the psychology of day trading as it focuses on the type of mindset you should have as you begin your day trading journey. Of course, it is important to note that it takes time in order to develop the right mindset—the winning mindset. I have broken down this chapter into the key characteristics that create the winning mindset and then ways to help you develop this state of mind.

      Chapter seven is full of various trading techniques and strategies that you will find and use throughout your day trading career. For example, you will learn what the bull flag momentum and ABCD pattern strategies are. On top of this, I will also discuss trend following, spread trading, fading, range trading, and much more.

      Chapter eight looks at some more basics that a beginner must know. This chapter focuses on various financial instruments that you can find as a day trader, such as stocks, currencies, futures, and ETFs.

      Chapter nine is going to take a look at a type of day trading analysis known as fundamental analysis.

      Chapter ten is going to look at another type of analysis, which is called technical analysis. In this chapter, I will explain what technical analysis is and how to use it.

      Chapter eleven is going to take a look at how you can manage risk. Like any other trading, day trading carries risk, however, there are ways that you can limit risk so you can aim to gain the greatest profit possible. I will discuss the 1% rule, which is followed by the majority of day traders. I will also delve into common mistakes beginners make and how to avoid them.

      Chapter twelve is going to give you

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