I Know Absolutely Nothing About Day Trading...Where Should I Start?

500-1000 is pretty simple. Definitely start with making 1k a week, and then work your way up to 2-5k. Once you get that, go to 10k a week and quit your day job.

Traders work to make tons of cash.

Anything else is a total waste of existence.

 

Does it absolutely have to be day-trading? How about being a day-trader when you're right and a buy and holder investor when you're wrong. Trade only quality stocks or index/sector etfs, getting out when you succeed, but never cutting your losses when you find yourself losing. That is, just hang on to your losses until the first profitable close. You obviously can't do that with futures, forex, or some other obscenely leveraged vehicle, but if you confine your trading to investment grade securities, why should you ever take a loss? Following this strategy of trading quality and never taking losses has consistently stood me in good stead. Leverage and cheap junk are the killers in trading (and elsewhere in life).

 

that's some pretty bad advice......

 

Jack my dear, here is your daily wordcloud. As you can see, you need to work on your anger management. So much contempt! Otherwise the basic message seems to be "Market offer full person." Strangely, I concur.

 

you can check out the traders on zulutrade - many of them are as well day traders and follow their strategies

 

Because there is a post a week just like yours.


Why would you leave your 9-5 job for another? Lol

 

Hold on to your real job. Do your chartwork at night and be ready to go in the morning. Use stops, and any other tools at your disposal and check your positions from your real job as often as you can.

Middle of the day is brutal to trade. Early and late are best.

 

From the movie Rounders:

Mike McDermott
"Guys around here will tell you, you play for a living, it’s like any other job. You don’t gamble, you grind it out. Your goal is to win one big bet an hour, that’s it. Get your money in when you have the best of it. Protect it when you don’t. Don’t give anything away. That’s how I paid my way through half of law school. A true grinder. You see I learned how to win a little at a time. But finally I’ve learned this: if you’re too careful your whole life can become a fuckin’ grind."

Saw that last night, opening 30min reminded me of trading.

 

You will probably end up supplementing other peoples income instead.