Day Trading In Complex Times (1) / 1 (ePub)

Day trading is one of, if not the most difficult things you will undertake in your life. So, having to practice shouldn't come as a surprise. Below, I will cover the ten reasons why you should practice day trading.

Day Trading is super-fast

Talk about knocking it down first in the post, but the daily trade is very fast. I've done everything from swing trading, long-term invest­ing, and day trading, and by far, day trading requires a unique set of skills. If you think about chess, what is one way you can increase the chess difficulty level? Put a stopwatch on how long you need to make a move. This is where real skill emerges because intuition, experience, and repetition come into play. Well, the market is no different. If I have a few days to analyze a position, I can work out a good trading plan with notes for myself. When operating during the day, it can only take a few minutes to a few seconds to make a decision. So, you think chess players start playing with a 1-minute timer? Obviously not. Therefore, you shouldn't even end up on the market with your hard-earned money, trying to make some harmless transactions. Take time to practice day trading to develop the skills necessary to enter the field.

Practice day trading in response to the market

The market is a real living being. While you have a history of some price movements, each day is unique. You'll have to see how you react to it when the tape airs and the actions move. It's one thing to just look at the old charts, but you have to get used to listening to the market. Much of day trade is intuition. This is the part of your trading toolbox that you cannot quantify, and it is unique to you and your trading style. This will permit you to learn how stocks react when the market generally

makes sudden movements in both directions.