an understanding of economics and finance is also extremely important, and degrees in business administration, finance, or economics can also be viable means upon which to launch a career. [ Many day traders are largely self-taught with a background in finance, economics, or mathematics.
Day trading has really opened many doors of opportunity for me I 'm able to make a full-time
living just trading a few short hours a day. I suggest that you go through each and every lesson in
order because they do build on each other and I give some tips you may find helpful throughout
the lesson so I 'll go over all the basics of trading such as placing orders how to read charts how
to find the best stocks for trading. your account is funded your broker will provide you with
special software to download on your computer so that you are able to actually buy and sell
stocks now this software differs from broker to broker but many are highly customizable that
come with tons of features such as charts market scanners order books order books direct routing
hotkeys and much more. Once you log into this software you're able to choose which stocks you
want to trade by typing in the stocks symbol. Everybody these days wants to profit right away
they want results the fastest way possible you have to look at day trading as a marathon not a
sprint because rushing the process is a direct path to failure. Once you 've mastered the skills day
trading will give you the freedom to work from anywhere in the world allowing you to quit the
nine-to-five job you can spend more time with your family you can lay around on the couch all
day.
Pre market and post market day trading is where you buy and sell stocks within the same day on
the basis of small short-term price movement trades can last for a few seconds to a few hours but
positions are always closed before the market closes. If you have a small account below $ 25,000
then you are limited to the number of trades you can make. The PDT rule only really matters if
you start trading with real money off the bat now if you were listening you should not be using
real money to learn how to trade you should be using a stock simulator with fake money to
practice strategies you learn once you have mastered the skills inside the simulator you 'll be able
to open an account with the broker that bypasses the PDT rule if you do n't have over $ 25,000.
A share is a fractional piece of ownership of that company when a company has an initial public
offering or in other words it 's first listed on the stock exchange market they release a certain
number of shares out into the market to be traded. The demand for those shares causes the
demand for that shares to either go up or down which in turn causes the stock price to go up.
Day trading could be very lucrative because you can make money no matter what the overall
market is doing now because day traders are only buying and holding stocks for a few seconds to
a few minutes. No matter if the market is tanking or going sideways we can always profit
because there will always be a company releasing good news that will draw the interests of other
day traders that push the stock price up even if it's just for a little while. 90 % of people who try a
day trading fail so statistically speaking the odds are greatly against you now do n't let this
discourage you because the fact that they fail is a choice it 's not because day trading is hard or
the market is rigged or unpredictable or that the 10% of people that succeed are smart. Almost
everyone unknown starts out with a mindset that has sealed their fate to fail. Started but there is
much more to learn after you have completed the course I hope you all learn something thank
, you so much for watching. started but there are much more than learn after. completing the
course. I hope to learn something from the course
How to Read Candlestick Charts
A chart is a visual representation of a particular stock's past price performance. It is read from
left to right, with the most recent price action on the right. To anticipate when a stock is likely to
go up or down requires an understanding of the relationship between buyers and sellers. Each
candlestick on the chart represents one day's worth of price action. Each day has an opening
price, a high price, a low price, and a closing price. Take, for example, the daily chart of Apple:
Each candlestick provides four pieces of information: the opening price, the highest price, the
lowest price, and the closing price for that time period. The boxed area of the candle is called the
body and represents the opening and closing prices. Each candle on a 1-minute chart represents
one minute of trading and one net worth of price action. The candle fluctuates up and down, and
at the end of one minute, it will have a closing price. If the close is lower than the opening price,
that candle will form red. Once these candles have closed, they begin to take a shape, which can
tell us a lot about the sentiment during that time period.
All my bullish candles are white and all my bearish candles are pink. This setup has multiple
reasons, but once you set up your charts, you can change your candle colors to whatever you
like. You should be able to tell if the stock is going up or down because it forms a white candle
for a bullish day and a pink candle for a bearish day. If the stock has trouble going up due to
more sellers than buyers, we can see a resistance price level at eleven dollars and seventy-one
cents based on the price action inside the yellow box on the left. If we were watching this stock
as it was coming back up to 11.71, what could we predict might happen once the stock reached
11.71? We would predict that the price would drop.
Placing Orders
Before buying or selling a stock, you must first define the type of
order you will be placing. Different order types will follow certain
rules on how your buy or sell order is executed. The most common
order types are: Market Order: This is used when you care more
about getting all your shares filled rather than the exact price you
pay. The execution of this order happens at the current market
price. Limit Order: This is used when you care more about the price
rather than the number of shares you want. With a limit order, you
specify a price at which you are willing to buy or sell. This is the best
way to eliminate slippage. Stop-Loss Order: This is used to limit your
loss on a stock. You set a stop price, and when the stock hits that
price, the order becomes a market order and gets executed at the
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