With that many daytraders killing capital with every click of the mouse, the question arises: Where is the best, most honest daytrading instruction to be found? Daytradinguniversity.com: How good are they at training? Anyone making a decent living using their methods? What about other daytrading instruction? There are many people doing well at daytrading. Some are self-taught. But, what's the word on where traders are shown how to consistently make money?
I do not need daytrading instruction. I am self-taught. I learned the long hard loose-money way. But, I keep hearing about all this loss of money by daytraders and that's not a good reputation for daytrading to have out there. There should be places for entrants to go and learn how to daytrade profitably before they enter their first trade. I started with a book. This guy said find those NYSE stocks that do not move, then buy at the bid and sell at the ask capturing the 1/16 (0.06c) spread, if the specialist will let you do it. I lost money doing that. With that strategy if the bid moved down 1/16 you are stopped out. You are supposed to be trading 0 volotility. If you don't close the position the next drop is to 1/8 (.12c). Another book said "not every day is a trading day". That lead me to finding high prob trades and that's where I am today.
There's no 'word on where traders are shown how to consistently make money'. The best, most honest daytrading instruction is going to be sitting in front of your screen, watching the time & sales throughout the day, day after day after day, until it finally sets in. just like other professions, you don't learn it all over a couple of months. you are clueless: you are the intern for a while...but in trading, people are out to get you...to take your money (ahem, i won't mention any names .com)...its not like surfing waves, its like 'deciphering waves'. there are many frequencies and you must understand them all. you must understand what they mean about price and liquidity. these are not things that you will fully understand until you have experience under your belt watching, observing the movement of price in your chosen instrument. if you want it, its there. you have to really want it. good trading!
What? Chris Farrel's books are no good? No wonder I have been losing my shirt trading the spread on NYSE stocks!