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[M90]Make Money Day Trading

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One of the invariable truths of life is that living costs money. Everything from what you eat to the roof over your head to the clothes on your back has required a significant investment in capital. Money, however, does not grow on trees and if you want even the very basic necessities of life you either have to be incredibly lucky or you have to work for what you want in life. Of course, some professions yield more money than others, and not all carry with them the same level of difficulty. Is there, then, a way you can make money easily?

1. Easy Money

Day trading offers the ability for you to make easy money. Of course, you need education to be successful in this kind of business as it can be a complicated process. Unlike a traditional moneymaking job, some days you can lose money. Obviously, this is a high pressure moneymaking system and it isn't for everyone.

2. Future Day Trading

The process of performing future day trading begins with certain commodities and products what is sure to have higher demands in the future. These commodities are usually sugar, gold, oil, coffee and many more. Future trading also involves an agreement that you will be purchasing an amount of commodities and products you will be using in your future trade on a certain time and price. This technique is advantageous because you are able to sell the products and commodities in the future where it sells in a high price. This will give you money, especially if you have purchased the products and commodities in a low price.

3. With Great Reward Comes Great Risks

Future day trading can be a great opportunity for you to gain not only enough but enormous amount of money. Of course, you should be considerable of the different risks available. You can always find information on internet if you want to learn more about futures trading. Websites as well as search engines can be a great way to assist you in your search.

4. Mutual Funds

Unlike other forms of trading, such as currency trading, be careful in what you invest in. If you invest into apples, and there turns out to be a hurricane or other disaster, your money could go right down the drain. When you are dealing with livestock and agricultures, make sure you are aware of the different factors that give high influence on the commodities. To get around this problem, you can invest in a wide variety of different areas of industry. This is often called a mutual fund.

Some people make great profits from forex trading.
Forex trading is open to all levels of traders. From the single person trading from home to the large portfolio managers.
It can be quite an adrenalin run when big money is on the line with each trade.

Can you think of the possibilities of working from home, no travelling, making $500+ per day within 2-3 hours "work." This is achievable
Do you think that appeals to you?

"hang on" you protest!

Forex trading almost sounds like other money making schemes like stock, options and real estate investing. what makes it different?
Valid point!

It was a long and bumpy ride figuring out how to make money day trading forex. As a stock trader (weekly from my MSTS) I had great money management and market psychology down but I needed to transfer this across into a whole new arena. Day trading forex.

At first I knew new traders always jump in where professional traders fear to tread. So rather then lose money whilst I honed my skills on a demo account. Demo accounts are great in forex. It's live data and you really get a feel how the markets move. But you must take it seriously. There's no point in demo trading if you are going to mess around. Treat it like an airline pilot would treat a training simulator. Seriously. It's there for you to learn your method, hone your skills and get a feel how it works.

I demo traded for over 10 months. Yes you heard me right. 10 months. I know most trainers will tell people to demo trade for a few months. I do not think it is long enough. Airline pilots need hundred of hours training before they are let loose. Why should you be any different? The first three months, whilst never blowing out my accounts, because I always traded on low leverage, I was up to 30% down in some cases. And that for day trading is far too high! Day traders should never be more than 18% down.

I traded all kinds of different ways. From 4 hour charts to 30 second charts. Breakouts to M.A crossovers. I could never consistently make money. I'd make great money one day only to lose it all the next. Or make great money on one trade only to lose big on the next.

Then evolution took place. I started to think “just because you are day trading doesn't mean you have to trade several times every day.” Heck it doesn't even mean you have to trade every day.”

I mean if you made $1,500 on Monday but then lost $1,000 on Tuesday and Wednesday only to make $1,500 on Thursday and the lose $1,000 on Friday. A Much better system would be to try and eliminate as many of those losing days as possible. So if you had 2 $1,500 and just ONE $1,000 losing day you now have $2,000 profits.

So the key for me was to eliminate the losing days as much as possible. Trade from the larger time frames and use the flow of the markets to help you. And do not trade every day. Rather keep your ash safe on those “counter trade or choppy days”. And that's when my profits started to make consistent gains instead of 1 step forward 1 step back every time.

Article Source : Day Trading

Mark Crisp has sinced written about articles on various topics from Investing and Trading, Finances and Hot Stocks Pick. . Mark Crisp's top article generates over 18100 views. to your Favourites.