4 Lessons I Wish I Knew before I Started Day Trading

How To Do Day Trading, 4 Lessons I Wish I Knew before I Started Day Trading – Day Trading Strategies For Beginners.

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🔽Time stamps:
1:06 There is NO secret day trading strategy that guarantees 100% win rate
4:18 Do NOT follow others’ trade alerts to buy or sell stocks
8:40 Focus on learning to read the stock charts first
10:47 Learning to day trade will take TIME and patience
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Day Trading is NOT easy… it’s definitely not a get rich quick scheme
Here are 4 Key Lessons I wish I had known before I started learning to day trade:

1. Stop looking for “SECRET” Day Trading strategies that will give you 100% win rate. They do not exist… what’s missing in your day trading is screen time and experience.

2. Stop following others’ trading alerts, aka chat room alerts to buy or sell stocks

3. Focus on chart reading first and foremost when learning to day trade as a beginner.

4. Day Trading takes time to learn slowly and steadily. Do not expect fast results and start making it rain within two weeks.

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, How To Do Day Trading

Day Trading Strategies For Beginners 4 Lessons I Wish I Knew before I Started Day Trading.

Explore Relevant Videos Top Searched Day Trading Strategies For Beginners.

Presuming you work nine to five in the UNITED STATE, you could trade prior to or after work. The best trading approach in those time blocks is to pick the most active money sets (those with the most value action). Understanding what times the significant money markets are open will help in picking significant sets.

New york city opens up at 8:00 a.m. to 5:00 p.m. EST
Tokyo opens up at 7:00 p.m. to 4:00 a.m. EST
Sydney opens up at 5:00 p.m. to 2:00 a.m. EST
London opens up at 3:00 a.m. to 12:00 twelve noon EST

The marketplaces in Japan and Europe (open 2:00 a.m.– 11:00 a.m.) are in full swing so part-time investors can pick significant money sets. These include the EUR/JPY pair or the EUR/ CHF pair for significant currencies or sets that entail the Hong Kong dollar (HKD) or Singapore dollar (SGD). The AUD/JPY pair might likewise work well for part-time investors available during the 5 p.m. to twelve o’clock at night timeframe. While it is critical to comprehend the best money sets that fit your routine, prior to putting any type of bets the investor needs to perform additional evaluation on these sets and the fundamentals of each money.