Going to start posting an article in here once a week or so as an educational resource for the people that browse these forums. Enjoy! ---------------------------------------------------- Surviving the Start Intraday trading for a living is not as easy as the advertisers out there want you to think it is. It requires good capitalization, hard work, a good plan, better than average tools and the right attitude to even have a shot at being successful. It doesnât happen overnight by reading from some PDF file youâve downloaded from the net or looking over a few charts and like magic you have a successful venture on your hands. Letâs start with getting you in the right frame of mind. You will not make money right out of the gate. Think of it as going to college. You have to put up some capital to learn the skills you need for your degree. After you decide on a major you meet with a counselor and map out your plan. Trading is the same way. You put up some capital and make a plan. Start small and you will slowly become more conformable with what you need to do to be profitable. We donât allow our new traders to start out trading right away. This teaches them patience and gets them used to waiting for trades to setup. When new traders see screens flashing and people paring trades, they tend to get emotional and antsy. They tend to think they are missing out on all the trades and wonder why theyâre not in the trade. Emotions have ruined many traders and will continue to test even seasoned traders. Controlling your emotions is a big part of intraday trading. Here are a few of the rules our group has used to help our new traders sway the odds of success in their favor. 1. Have expendable income. You will not be taking money out of your trading account for a good while. This takes the pressure off and lets you learn at your own pace. Trading is hard enough and removing the stress of how you will pay your bills is a large step in the right direction. 2. Be well funded. Do not start out with the minimum $25,000 that just meets the pattern day trading requirements. We think traders should start with a 50k to 75k minimum. 3. Practice your plan. When you can follow your plan and donât feel the need or urge to trade outside of it you will be ready for the next step (this doesnât mean you did it for a week straight). The better your practice is the easier the transition to the next step. Use a log to write dates, times, and exact entry prices of your simulated trades. 4. Review your charts every night. Go over the simulated trades you made and others you missed. This helps you get used to seeing what you are looking for, so when it happens in real time you can find them faster. 5. Use small shares to start. This is a time to learn to manage your trades, get used to the order bar and putting orders in. It will test your emotions when real money is on the line. Can you still follow your plan? Do you start to get scared or uncomfortable when you have an open trade? 6. Be true to yourself. If you make a mistake write it down and learn from it. Keep a journal of mistakes and review them each week. This helps keep them in the forefront of your mind and helps you from making them over and over again. Leaning from your experiences will help you be successful. Trading for a living can be a very good business if you plan for success from the start. We hope a few of our rules can help start you on your way to a successful trading venture. CptNemo MarketKeyTraders.com Livestream.com/watchpinkyscalp âNo decisions based on FEARâ