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Are You Cut Out For Online Day Trading With a Prop Trading Firm?

Most people begin online day trading with the idea of becoming rich and successful. However, along the way, they encounter many bumps, pitfalls, obstacles and roadblocks that keep them from ever reaching their goal.

How to Become a Day Trader

A day trader is someone who at the end of the trading day has a nil net bought or sold position. The person buys a certain number of shares of a particular company during the day and sells the same number of shares of the same company before the end of the day, in the process making a profit or loss but having effectively neither bought nor sold any shares for delivery.

Trading Psychology – Coping With Not Winning All the Time

When I first started trading, I always had this idea that once I perfected my chart reading, virtually all of my trades would be winners. When I discovered a setup that worked once, then twice, and again, and again, I figured all I had to do was play those and they’d always work out in my favor. The idea that at certain times these plays would work wonderfully and other times not nearly as well, hadn’t even crossed my mind.

Money Management – Proper Position Sizing For Penny Stocks

How large or how small should your position be in any given trade? You need to keep your position size to as small of a percentage as the average daily money volume. How much of the average money volume do you want to be? The less the better, but there is no official threshold to stay under. I’d say staying under 2% is pretty safe, but if you know what you’re doing you can push that somewhat.

Top 10 Tips From a Successful Day Trader

With all the uncertainty in the current market, and with people losing money left right and center. Here are a few tips that will help maximize your chances of making money in the stock market each week!

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