Dear Trader,
I have good news and I have bad news. The good news is that it’s easier than ever to day trade. The bad news is that it’s harder than ever to day trade. What the heck does that mean? What kind of doubletalk is that? It’s really simple. Day trading is easier than ever because software is more powerful, commissions are the lowest ever, price executions are the fastest ever, and price movements are frequent and plentiful. On the other hand, competition is more fierce than ever, volatility means that larger stops are necessary, the geopolitical backdrop often causes large and frequently unpredictable price movements, and constant attention to your trades is critical to success.
It Makes Me Very Sad
Almost every day I get email from new traders who want the secret to successful daytrading. It makes me sad to know that the overwhelming majority of these newcomers will lose their money very quickly. It makes me sad to know that they have been misled into thinking that day trading is their key to wealth and success. It makes me sad to know that they believe they have a chance to be successful in competing with some of the best, most experienced, most technologically advanced, and best capitalized traders in the world. You can’t just walk into the high-stakes poker room at a Las Vegas casino believing that with no experience and no skills you can compete with the best players in the world. It’s absolutely ludicrous! And yet I see them come every day with a small amount of money in their pockets, great hope, and huge ignorance. The good news is that the situation is not hopeless. What to do?
Knowledge Is Power But Not Without Skill
You can have the most powerful trading tools in the world, however, unless you not use them you will be a loser. Unless your procedures and organization and capitalization are correct, good trading methods will not help you. Unless you have a profit maximizing strategy and risk management strategy, your trading tools will help you.
Unless you have the time and commitment to daytrading, most of the tools out there won’t help you. Having a great or even a good trading methodology is the beginning of the process not the end of the process.
How DayTrading Seduces Traders
It’s the great American dream! Begin with nothing and create success. Is it still possible? How about beginning with a different goal? How about approaching daytrading as an organized business with specific rules and procedures? How about beginning the process with baby steps and progressing to the stature of a giant? The lure of daytrading has been perpetuated by system sellers, brokers, charlatans, seminar presenters, and others who would love nothing more than to separate you from your cash. Many of them don’t even trade! Being a day trader or thinking you’re a day trader or saying you're a day trader has a certain appeal to it. Imagine that: buying and selling things that don’t exist with money you don’t have. What a concept!
Remember that the concept is pure, but the reality is messy.
Let me show you how to harness reality.
Join Me for Three Detailed Lessons on Day Trading the Easy Way
Now that I’m 69 years old, my priorities have evolved to the extent that efficiency, ease of execution, and more bang for the buck are tops on my list. I like to work smart, not hard. Many of you have asked me to share my best and most efficient daytrading methods with you; methods that are efficient, easy to implement, and not labor or time intensive. I will do exactly that in my three-session day trading webinar. Here are the details.
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