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    Summary of Troy Noonan's Day Trading QuickStart Guide
    Summary of Troy Noonan's Day Trading QuickStart Guide
    Summary of Troy Noonan's Day Trading QuickStart Guide
    Ebook52 pages33 minutes

    Summary of Troy Noonan's Day Trading QuickStart Guide

    By IRB Media

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    About this ebook

    Get the Summary of Troy Noonan's Day Trading QuickStart Guide in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: Day Trading QuickStart Guide smashes the myth that successful day traders are math experts, careless risk junkies, or compulsive gamblers. Using the tactics and enclosed in these chapters, you'll learn the exact skills needed to find real success while keeping your risk to an absolute bare minimum.

    Author Troy Noonan is a professional full-time trader and day trading coach with over 25 years of experience. The original 'Backpack Trader', Noonan has helped thousands of students in over 100 countries become successful traders using the exact methods and strategies shared in this book.

    LanguageEnglish
    PublisherIRB Media
    Release dateNov 30, 2021
    ISBN9781638159643
    Summary of Troy Noonan's Day Trading QuickStart Guide
    Author

    IRB Media

    With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

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      Book preview

      Summary of Troy Noonan's Day Trading QuickStart Guide - IRB Media

      Insights on Troy Noonan's Day Trading QuickStart Guide

      Contents

      Insights from Chapter 1

      Insights from Chapter 2

      Insights from Chapter 3

      Insights from Chapter 4

      Insights from Chapter 5

      Insights from Chapter 6

      Insights from Chapter 7

      Insights from Chapter 8

      Insights from Chapter 9

      Insights from Chapter 10

      Insights from Chapter 11

      Insights from Chapter 12

      Insights from Chapter 13

      Insights from Chapter 14

      Insights from Chapter 1

      #1

      To become a successful day trader, you must first recalibrate your internal thinking and become that strange and unnatural creature called a trader. You must do the necessary work to transform yourself from a person who tries to trade into a trader - or better yet, the CEO of your trading company.

      #2

      The main reason to trade is to make money. However, day trading is difficult, and the same trade that earned you $50 might now only earn you $5.

      #3

      The first step towards becoming a successful trader is to understand why you are trading. It is important to know why you are doing something, especially if your actions do not match your reasons.

      #4

      Paper trading is a way for traders to get used to the markets without risking real money. Some brokerage firms today offer practice trading platforms that allow you to trade as if you had real money.

      #5

      The author was a newbie to trading who wanted to make quick money. He chose to start trading futures contracts on the SP 500.

      #6

      The first day of trading was successful for Herb, as he profited $625 after selling his position near the end of the day.

      #7

      The author’s friend Herb had a bad day trading, and ended up losing $250. He was discouraged by the loss, but didn’t give up on his system. He just had to find a way to fix his losing trades.

      #8

      There are no do-overs in real trading. You cannot go back and change what you did in the past. Real trading is a risky business, and if you’re not ready to take risks, then trading is not for you.

      #9

      The emotions experienced by new traders are similar to those experienced by Herb. Hope, greed, euphoria, disappointment, anger, and even despair.

      #10

      Greed can be classified into two forms: Fast money greedy, who take excessive risks and trade frequently, and slow money greedy, who can't stand to

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