News: Day Trading Ideas

When I meet a new dealer who has some interest in what I am doing, this is perhaps the most frequently asked question: how long’s it going to take me to be profitable with your method? This ‘trader’ has never traded real money yet, or has been losing at whatever ‘trading’ that they have done, yet whatever they want to know is how long will undertake to be profitable under a new method. My answer to questions like these is to first ask my own question: what are you planning to do in order to learn this method, how can you possibly become profitable with any method before you learn it? I can remember one specific ‘trader’ that I talked to 2-3 times before joining our group. In the conversations this trader told me how many thousands of dollars he had spent on trading systems, methods, and trading groups  it was almost like he was ‘bragging’ about it? He never learned how to trade. He had never traded profitably. BUT once again the same issue came up  how long is it going to take? I told the ‘trader’ my thoughts regarding this, while also saying that if such were the major concern that they would probably never learn it, and they really should not join the group. The ‘trader’ assured me that this time it’d be different BUT it wasn’t  they never studied the training materials. However, I would get an email every couple of days asking me when I thought they should start trading real money. And there is another statistic for the 90 percent club.

Years ago, the DailyFX team developed the DailyFX Plus Trading Signals. The DailyFX Plus Signals are seven strategies created such that a computer produces signals 24 hours per day 5 days per week. These strategies were designed for specific market conditions. Therefore, all traders had to do when trading these strategies, was to simply identify the current market condition, and then match the correct strategy to that market condition. Not only are these signals popular for generating trading ideas, but traders …


The answer is that such trading makes no sense for real investors, who are looking for the best price on a stock they plan to own for some time. But those investors are a declining part of the market. In-and-out trades, with the hope of snaring quick profits, are all the rage. Companies fear their employees are sitting in front of their computers all day trading Internet stocks, rather than doing whatever it was they were hired to do. Why not …


Whenever any of us invest a great deal of time, energy, and thought into something, it’s okay to want to follow it through. The notion of giving birth to an idea and the nursing it, cultivating it, watching grow and take shape is a fabulous feeling. It can make a person feel powerful and wonderful and intelligent, but often times we can let it take over our better judgment. Just as traders need to work at taking in the ticker tape with an air of separation, so must we examine our ideas as just information. Being able to separate yourself from even some rather exciting ideas can allow you the freedom to let an idea go when it is not coming to fruition or to allow an idea to serve on the back burner for awhile and pull it out later when conditions change. Ideas are the launch pad that bring in profits, but since we’re in the race to make a profit, you wish to make sure that you trade stocks with sound techniques.