Day Trading for Beginners: Proven Strategies to Succeed and Create Passive Income in the Stock Market - Introduction to Forex Swing Trading, Options, Futures & ETFs: Stock Market Investing for Beginners Book, #3

By Mark Lowe

Do You Want to Make a Living Day Trading?

Written in a simple and straightforward manner, this book Day Trading for Beginners covers the fundamentals of day trading, and how it is different from other investment opportunities. You will also learn proven trading strategies that many profitable day traders are using today.

Even if you have no prior background in the stock market, you can easily learn the 'secrets of the trade' by reading this book. It will equip you with a basic understanding of where to begin, how to start, what to expect, and how you can create your own strategy.

 

Here are just some of the topics we will cover to help you achieve success in your day trading career:

• Fundamentals of day trading and how to get started
• The 10 commandments of successful day trading
• Biggest pitfalls to avoid when you're a rookie trader
• Proven strategies to implement and succeed in day trading
• Many graphs and images so you can visually understand what makes a good trade
• The psychology of flawless risk management
• How to find the "Apex Predator" stocks
• And much more…

 

By the end of the book, you will have a good understanding of day trading and exactly how to get started. The lessons and strategies you will learn from this guide will help you succeed in your  trading career.

 

So what are you waiting for? Click "Buy Now" and get started today.

• Language: English
• Publisher: Mark Lowe
• Release date: Jan 29, 2021
• ISBN: 9781393850861

Book preview

Day Trading for Beginners

Proven Strategies to Succeed and Create Passive Income in the Stock Market - Introduction to Forex Swing Trading, Options, Futures & ETFs

PUBLISHED BY: Mark Lowe

© Copyright 2019 - All rights reserved.

The content contained within this book may not be reproduced, duplicated or transmitted without direct written permission from the author or the publisher.

Under no circumstances will any blame or legal responsibility be held against the publisher, or author, for any damages, reparation, or monetary loss due to the information contained within this book. Either directly or indirectly.

Legal Notice:

This book is copyright protected. This book is only for personal use. You cannot amend, distribute, sell, use, quote or paraphrase any part, or the content within this book, without the consent of the author or publisher.

Disclaimer Notice:

Please note the information contained within this document is for educational and entertainment purposes only. All effort has been executed to present accurate, up to date, and reliable, complete information. No warranties of any kind are declared or implied. Readers acknowledge that the author is not engaging in the rendering of legal, financial, medical or professional advice. The content within this book has been derived from various sources. Please consult a licensed professional before attempting any techniques outlined in this book.

By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, which are incurred as a result of the use of information contained within this document, including, but not limited to, — errors, omissions, or inaccuracies.

Table of Contents

Introduction

Chapter 1 - How Day Trading Works

Day Trading Vs. Swing Trading

Buy Long, Sell Short

Institutional vs. Retail Traders

A Day in the Life of a Day Trader

Chapter 2 - Managing Risk in Day Trading

Three Steps in Managing Risks

Step 1 - Figure out the maximum dollar risk for the trade you are planning

Step 2 - Estimate your max risk per share and stop-loss strategy

Step 3 - Find the absolute maximum number of shares you should trade each time

Risk Management and Trading Psychology

Chapter 3 - Hunting for Stocks to Trade

Apex Predators

Low Float Stocks

Medium Float Stocks

Mega Cap Stocks

Chapter 4 - Day Trading Tools and Platforms

Day Trading Broker

Market Data and Trading Platform

Stocks Scanner and Watch List

Community of Traders

Chapter 5 - Introduction to Candlesticks

Different Candlestick Patterns

Spinning Tops

Doji

Chapter 6 - Effective Day Trading Strategies

Managing Your Day Trades

ABCD Pattern

Bull Flag Momentum

Top and Bottom Reversal

Bottom Reversal

Top Reversal

Moving Average Trend

Volume Weighted Average Price (VWAP)

Resistance or Support Trading

Tips in Drawing Resistance or Support Lines

Other Day Trading Strategies

Develop Your Own Day Trading Strategy

Chapter 7 - Day Trading Process

Chapter 8 - Forex Day Trading

Forex Day Trading

Forex Spot Market

Forex Futures and Forwards Markets

Forex Swing Trading

Establish your goals and select a trading style that is compatible with your personality

Select a trading methodology and be consistent

Carefully select your entry and exit frames

Work on the trade expectancy

Create positive feedback loops

Concentrate on your trading strategy and don’t be afraid of small losses

Setting Up Your Forex Day Trading Account

Trading Leverage

Fees and Commissions

How to Start Day Trading in the Forex Market

Order Types

Chapter 9 - Day Trading ETFs and Options

1. Select the Right Exchange Traded Funds for Day Trading

2. Use the 50-period MA (15-Minute Trend)

3. Jump into Trade after 10 AM Eastern Time

4. Wait for the Price to Hold Over 50-Period MA and Open the Upper Portion of the past 5-day Trade

5. Place Stop Loss (25 cents) under the 50-period MA

6. Get Your Profit if the SPY Advances a Dollar

Options Day Trading

Options Contract

Types of Options

The Benefits of Day Trading Options

Chapter 10 - Biggest Mistakes Beginners Make in Day Trading and How to Avoid Them

Chasing Trades

Averaging Down

News Prepositioning

Quick Trading after News Announcement

Trading More than 2% of Your Capital in a Single Trade

Not Understanding Financial Markets

Unrealistic Projections

Relying Too Much on Day Trading Insights Found Online

Chapter 11 - The Importance of Continuous Education in Day Trading

Conclusion

Thank you

References

Introduction

Thank you for purchasing this beginner’s guide to day trading.

In this book, you will learn the fundamentals of day trading and how it is different from other investment opportunities. You will also learn important trading strategies that many profitable day traders are using today.

This book is written in a simple and straightforward style so even people with no prior background in the stock market can easily learn the ‘secrets of the trade’. If you are a newbie in day trading, this book can equip you with a basic understanding of where to begin, how to start, what to expect, and how you can create your own strategy.

However, merely reading this book will not make you a profitable day trader. Making money in the stock market hardly comes from reading a book. As you will learn later, revenue comes from actually doing it. Knowing is not enough. You need to practice, use the right tools, and continuously invest in your own education.

Even those with some years of experience in day trading can still benefit from this book’s discussion of traditional strategies that most day traders are using effectively. Even if you are not a novice reader, I still encourage you to read the whole book as you may still find valuable lessons in these pages.

Day trading can help you make money, but it is not a sure way to get rich fast. This is not similar to playing the lottery. This is the biggest misconception that people have about day trading, and hopefully, you will dispel this notion after you read this book.

In fact, around 95% of people who start day trading end up in net loss.¹ It is easy to be part of the 95%. It is easy to lose money in day trading. So remember this number one rule in day trading:

Rule No. 1 - Day Trading Is Not a Get-Rich-Quick Scheme

A lot of people think that it is easy to make money in day trading. After all, you just need to buy some stocks, wait for them to go higher a bit, and then you sell them for a good price, right? Unfortunately, this is not true. If that is the case, then everyone would be rich by now.

You should always remember that day trading is not easy and it will not make you a millionaire overnight. 

If you have this misconception, and you want to get rich fast, you must stop reading this book and invest your money somewhere else. If you are not ready to lose money in day trading, then forget day trading.

Day trading is a highly competitive market. Day traders are always trying to make a profit by outsmarting other day traders. The primary goal of day trading is to grab money from other day traders while they are also trying to take your money.

This is the reason why this is an intellectually intense financial activity. Basically, you can’t make money in the stock market. The only reason there’s money in the stock market is that other traders have invested it there. The money that you want to take belongs to other traders and they will do everything to hold on to their money.

Day trading is not easy peasy. And in light of this, you should remember rule number two.

Rule No. 2 - Day Trading Is Hard 

Day trading is a serious business, and you must treat it as such. You can be profitable in day trading only if you have the capacity and the perseverance to pursue this opportunity. Trading on high emotions is the number one reason why day traders fail.

You have to practice self-discipline and manage your money well. Decent day traders take care of their capital as carefully as astronauts monitor their oxygen supply. In day trading, you can’t be weak. You need to be above average if not excellent in order to win the game. 

Sadly, day trading usually attracts gamblers or impulsive people who feel they are entitled. If you have this sense of entitlement, then this book is not for you. Day trading is not fit for you. You must have the mindset of a winner. You need to think like a winner. Feel like a winner. Act like a winner.

Changing your mindset is not easy. But if you wish to be profitable in this business, you must work on changing and developing your personality. In order to succeed in day trading, you need discipline, knowledge, and motivation. These elements, in fact, will make you successful in any profession you choose.

Remember, day trading is a profession. People who are serious in this financial activity treat it like they would treat work in medicine, engineering, or law. Day trading requires the right education, discipline, and practice.

You need to dedicate countless hours reading about different trading styles, observing how successful traders are doing the job, and practicing using simulation programs so you can learn how to trade in the real arena.

Many successful day traders are now making $500 to $1,000 every day. This is equivalent to $10,000 to $20,000 each month or roughly