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    Day Trading for the Complete Beginner
    Day Trading for the Complete Beginner
    Day Trading for the Complete Beginner
    Ebook95 pages1 hour

    Day Trading for the Complete Beginner

    By Jose Pila

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    About this ebook

    Day Trading for the Complete Beginner is for all up and coming aspiring self-directed day traders and investors who are trying to figure out if the business of making money with money is for them or not. By the time you are reading Day Trading for the Complete Beginner you will know what is in store for you in the business of making money with money and if you want to do it or not. A brand new self-directed trader with no experience can read Day Trading for the Complete Beginner and depending on how fast they can grasp the concepts and learn them can be making an income for themselves in a short period of time.

    There is a certain progression of steps that every new self-directed trader must follow to become a consistently profitable professional trader. There are absolutely no short cuts however Day Trading for the Complete Beginner can get you on the fast track and expedite your learning cure so you can begin making money with money right away. Learning the trading business is not as hard as one would imagine as long as you are learning it the right way the first time from the first day.

    By the time you have read this entire book you will know what steps you will need to take to become a consistently profitable self-directed trader. I encourage you to make Day Trading for the Complete Beginner the first book you read versus the tenth if you want to know how to gain an edge over your competition in the markets.

    You don’t need a job you need an income and trading is the only business where you can be anywhere in the world you choose to be day or night and having the chance unlimited amounts of money. Isn’t that the type of business you would like to be in?

    LanguageEnglish
    PublisherJose Pila
    Release dateFeb 12, 2016
    ISBN9781524289478
    Day Trading for the Complete Beginner

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      Book preview

      Day Trading for the Complete Beginner - Jose Pila

      Day Trading for the Complete Beginner

      How to Day Trade and Win as a complete Beginner

      By Jose Pila

      Copyright 2016

      Table of Contents

      Why do you want to be a day trader?

      What are your financial goals from trading?

      The only person who can do it is you

      The most important thing to do first is to plan out your education and training

      The first things you need to know – how to read a price chart and price action

      Knowing money management can save you money

      Your ego won’t be needed here and can get you broke if you bring it

      Learn a method that works in any market on any time frame

      Only work from a rule based plan if you don’t want to be eaten by sharks

      If you think like smart money you’ll make money like them

      Some real world examples to really get you thinking

      My final advice for beginners

      Bonus section

      Extra links

      Glossary

      Disclaimer

      Why do you want to be a day trader?

      One of the first questions I ask brand new traders who come to me for mentoring is why they want to trade. The answer I get most of the time is I want to make money. Hell we all want to make money in the market and that should be every investor and traders goal. For me it is to add some money to my account balance monthly as I am a position investor and trader. I look at things on a longer term time horizon.

      When I first started out in the business I had not answered any of the serious "why" questions and only knew I wanted to make money from trading. I had unrealistic expectations from the start which is only one problem most new traders coming into the business have.

      Most new people who come into this business have unrealistic expectations on what they will be able to pull out of the market money wise on a daily basis. We have all been there though. Most professionals who are at the level of consistency of making money on a daily basis if they are day traders have accepted that the market will only give out so much and they are good with that.

      The live markets are an intimidating and brutal place for someone who starts off with the wrong information. They can be a mysterious, murky, and complicated place for the ill advised. By following the advice in this book and keep it simple and taking very slow and absorbing every detail you can have the best chance for a high probability outcome as a successful market participant. Make no mistake the market can make you lose your mind, burn your soul, and help you to lose all your money. Quickly!!

      Learning this business is not sexy however it does not have to be mundane and boring either. It is going to take some time. Most consistently profitable investors and traders I know who have made it have in the very high thousands of hours of screen time.

      You can use this book and the references, suggestions and tips in it to go further into your educational studies of the markets and there dynamics. Knowing market dynamics is going to be critical for you to have the winning edge you will need to be a successful market participant. By studying what this book suggests you will not become one of the 97% of the sheeple of the herd.

      The live market is not a place for the weak minded or faint hearted. If you have any doubts about your skills or confidence take some advice and just stay out of the live market until you have developed a kill everyone mentality because that is what you will need to make real money in there every day.

      I had the crazy notion in my mind I was going to make $200 a day from trading my first live account. I look back on that now and think how crazy unrealistic that was. Most brand new traders come into the business under funded as it is anyway and I was no different. You cannot go into the live market on a 5 thousand dollar account and expect to make anything however your mind is telling that you can.

      If you are brand new and have no knowledge in this business, it is critical that you pay attention to the valuable information that is given in this book if you wish to become successful. There are zero shortcuts to getting there; however, the learning curve does not have to as brutal as most new people make it on themselves.

      Almost all brand new investors and traders from all over the world make the mistakes this book talks about. It’s almost universal. Once you have read this entire book, I invite you to tell other people you know who are thinking of getting into this business to also buy it and read it, so you can help them, as well. Help them save time and money, and they will be grateful to you forever.

      The information in this book will put you on the fast track to learning exactly the information you need to get started making money right away in the live markets. You want to invest and trade, right? You have to learn it the right way from the start to be able to put what you learn in your education to practical use in the live markets and make consistent profits.

      When I say fast track I don’t mean you can just go in the live market after reading this one book. It is imperative then that since you as a retail investor or trader have a look at all the information you need to study even if you are trading intraday which by the way the smart money does not do.

      That should be a huge clue, however because people think this is a get rich quick business when they first get into it and they think that they can learn a few chart patterns and some price action and then can go into the live make and make jet fuel money. New traders are buying Ferrari’s and Gulfstream 650’s before ever making a live trade with real money.

      Don’t become one of the sheeple of the herd! Ask yourself this question before you begin your education journey for day trading. Do I want to be the one who pays in the market or do I want to be the one who gets paid? Just keep that in mind when you are learning what you need to know about this business and it is a business and you should treat it as such.

      You are the one who is in control of what you learn, so I encourage you to do the smart thing and do what it takes to become successful. By reading this entire book, you can reach your desired goals in a shorter time if you just don’t do what others are doing wrong. Makes sense, right? Learn from others’ mistakes and make yourself better. I encourage you to do it, so you will not lose any of your hard-earned money in the markets.

      <<<>>><<<>>>

      What are your financial goals from trading?

      What kind of investor or trader do you desire to be? You should know this before beginning this business. Figure out what style of investing or trading suits your personality the best. Do you want to day trade, swing trade, or position trade? What kind of time are you looking to put in on a daily basis? What kind of returns are you looking at monetarily?

      Are you the type of person who has a lot of time to devote to looking at charts in the live market to be a day trader? While I do not recommend day trading, it is possible; however, it requires a lot of time, preparation and a

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