The Business of Day Trading
May 31st, 2007 | Category: tradingJack: Hmmm… So I got $10,000. I want to do some Day Trading!!!
Dateve: You all ready to invest?
Jack: Helllzzzz Yeah! ALL IN ON ENRON!!!
Dateve: NEG!
So ladies and gentlemen? What’s the latest moral of the story? Yeah, it’s defiantly a business, and a business can fail. Some are a little more forecasted than others, but if you aren’t ready, I figure there is a Foot Locker position at Pine Center open for you.
If you are to succeed with day trading, you have to treat it like a business. You must not take no position home at nighttime. You can avoid bad declines in after hours trading which is out of your control. If you stick to day trading, you will be in a better position to control your risk and size of losses. Each and every business has a formula for success. You ready for the ultimate? You can thank K. Hagerty for the following:
Max % of profitable trades + Max profit per trade - Small losses X multiple trades = YOU WIN!
Let’s keep these posts short and sweet. Next post, we will break down that equation. NSTbreakU
