Getting Started? (Day Trading)

Discussion in 'Professional Trading' started by SNo0oWMAN, Nov 8, 2008.

  1. zlmtb

    zlmtb

    I just started reading "Trading for a Living" and in the first chapter he makes a point of emphazing the impact of commissions and slippage on profit. So the author does encourage the reader to watch bid/ask spreads and slippage on trade executions. Definitely a good point. So from that perspective Level 2 quotes would be useful. I've gotten plenty of screen time since I started trading mid September. The problem was I started trading before having a trading plan, money management, and a tested strategy in place. So obvioulsly I got what I deserved: the college of hard knocks! What a time to try and start trading!!! My brother day trades for a living and came from a commericial trading desk background. He's pointed out that it's an extremely volatile market to be learning in right now. From this point forward I'm backing off on active trading and putting my energy into learning more and developing an effective trading strategy.

    zlmtb
     
    #11     Nov 9, 2008