Day Trading For Dummies (3rd Edition) by Ann C. Logue

By Ann C. Logue

In an ever-changing industry, get the good thing about buying and selling for yourself
Day buying and selling is absolutely the main intriguing option to make your individual cash. earlier than you start, you wish 3 issues: persistence, nerves of metal, and a well-thumbed reproduction of Day buying and selling For Dummies.

This plain-English advisor indicates you ways day buying and selling works, identifies its all-too-numerous pitfalls, and will get you begun with an motion plan. From vintage and renegade options to the nitty-gritty of day-by-day buying and selling practices, it offers the information and self belief you'll have to continue a funky head, deal with danger, and make judgements immediately as you purchase and promote your positions.

• increased assurance of day buying and selling assets and websites available
• support picking out an internet dealer within the present market
• New buying and selling products
• up-to-date info on SEC ideas and rules (and tax laws)
• New funding options
• up-to-date examples that replicate present marketplace and monetary conditions

Read Day buying and selling For Dummies and get the guidelines, information, and sturdy origin you want to reach this exciting, profitable, and worthwhile occupation!

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Extra resources for Day Trading For Dummies (3rd Edition)

Sample text

My Business Setup I work from a home office. I use my startup funds to purchase two monitors working off of one computer, with a second clone computer on hand in case something goes wrong. I have cable Internet access with a mobile application on my phone as a backup. I have a wireless router so that I can check my e-mail and instant messages through a third computer, a laptop, instead of through my trading computer. I have an account with a full-service online brokerage firm that can offer me the necessary research services.

After all, when do you cross the line from being a happy little piggy to a big fat greedy hog that’s about to be turned into a pork belly? Just know that if you’re deviating from your trading plan because things are going so great, you may be headed for some trouble. ” In other words, a savvy trader can make money whether the market is up or down, but a greedy trader runs into trouble. In a bear market, the money returns to its rightful owners A bull market is one that charges ahead; a bear market is one that does poorly.

She uses stop and limit orders to minimize her losses, and she always closes out at the end of the day. She understands the risks and rewards of trading, and that keeps her sane. Many day trading strategies rely on leverage, which is the use of borrowed money to increase potential returns. Leverage carries the risk of the trader losing more money than is in his account. However, brokerage firms, which don’t want that to happen, will probably close a leveraged account that’s in danger of going under.

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