The world of day trading is an intense and crazy environment. But within that craziness is opportunity. The opportunity to escape the corporate world and cubicle prison that most worker bees have ensconced themselves in and convinced themselves that defines safety and security. But with the right attitude, educational tools and interactive brokers, you can break out of that prison of false expectations and on to a world of riches.
When you create your own financial opportunity, instead of waiting for your bosses to bestow it on you, it feels so much better. There is a satisfaction in becoming a consistently profitable day trader that far surpasses the feeling of being promoted in your particular corporate cell block. By learning great strategies for picking the right stocks, working with esteemable interactive brokers and sticking to meticulous planning and recordkeeping, you can move from corporate drone to financially independent day trader in a short period of time.
Day trading is all about following volatile stocks. You want stocks that are poised for big fluctuations, with spikes and valleys. That is where the profit opportunity lives. But to be able to hunt those stocks effectively every day and time your entry and exit, you need a plan. You need strategies and techniques that allow you to spot trends and find those hot stocks. Then you need the plans in place and the discipline to stick to those plans no matter what.
When you search online for war stories about working with interactive brokers in the day trading market, the successful people you talk to will come back to the same theme again and again. Go into a trade with a solid plan and if the stock deviates from the plan, you abandon ship. There is no honor in sticking with a lovable loser in day trade. There is only honor in spotting the dogs before they begin to expire. Profit is the name of the game.
You get profits by making trades with these interactive brokers and hitting 60% of the time. You just need to make that 40% as small as possible in dollar amounts. Make your losses small, keep your singles, doubles and triples to a manageable amount and keep searching for those home run stocks. That is how you win. Slow and steady, like the tortoise. The hares get enveloped by the steady turtles in day trading. The parable is apt.
Finding the momentum day trading strategies is not that hard. Learning how to implement them without too much consternation and with much success is hard. Then you need to really work hard to keep the implementation consistent and profitable. You need practice before you even head out into the real market. That is where you make your bones. By spending time in a paper trading simulator, where you trade virtual currency and learn to make $200 a day. If you can do that in a trading simulator, you are ready to risk real money and make a decent salary. Then you keep upping your game day after day after day until you are a good as you need to be to be free.