Contractors Day Trading the Stock Market
This was sent in by a reader and is about contractors day trading the stock market.
Some contractors (and ex-contractors) have manage dto make a good living at it.
Stock Market Trading Takes Discipline
Very few, if any, contractors became successful at this. Trading takes lots, and mean lots of discipline as well as training / practicing on a demo account.
You can do a search on Google for day-trading courses. Then you can choose an online broker who will allow you to have an account from which you can trade.
But the first thing you do is hammer the demo account and make all the silly mistakes there. Once you are trading real money, small losses are acceptable as they can be covered by winning trades.
Large, massive losses are the result of inexperience and it
s best to get this inexperience out of the way in the demo.s like watching your loved-ones dangling on the edge of a cliff.
<h3>Psychological Stock Market Trading</h3>
Trading is mostly psychological. You can be the best technical (chart analyst, etc...) trader but once you put your own money (or someone else‘s) onto the market, it
Trust me, I`ve been there! No demo account can prepare you.
I`ve seen some Chinese people, especially women, do well. They are very tough mentally/emotionally. Go to China Town and see how apparently arrogant and rude they are.
That`s them being tough.
Training for Day Trading
They are very successful people in the UK. Plus they like a flutter on the horses or anything that moves!! (I used to hate the Chinese for how bloody rude and arrogant they were, but now I have some respect for them.)
You can download books by Jack Schwager on his interviews with some of the wealthiest traders in the world.
Research/reading should be taken seriously. Also, do a search for trading blogs/forums.
Trading is easy, buy low-sell high (for stocks). Buy low-sell high/sell low-buy high (for currencies). But in between, these don`t move in straight lines.
Reading up on the subject is a must for contractors day trading the stock market.