To learn how to make a living day trading, you need to do a few things: visit Warrior Trading’s day trading education site, block off some time to study and prepare and shrink your overhead. Profitable day traders know more than unprofitable day traders, because they learn strategies and techniques from the best. And profitable day traders spend time and effort to learn these complex topics, while also making sure that they are starting from a place of humble beginnings.
You don’t need a whole host of fancy software packages when you are just starting out. You need a quiet place to set up your computer, a few monitors and the willingness to learn from one of the best interactive brokers in the business. The way that Warrior Trading students learn is to take on the $200 a day challenge. To try to make $200 a day in profits, you can make real money for the year. $50,000, in fact. But to survive and thrive on that salary, you need to have low overhead.
Making a living day trading is not about setting yourself up for a giant score. It is about learning gap & go trading techniques, bull flag trading and reversal trading. Having those strategies down pat means that you can make money on any day and in any type of market. Not just a volatile day with lots of big movers and chances to make money.
To get to that $200 a day, you need to learn those successful trading strategies and the rules to manage the risk that comes with day trading. You have to be able to manage your emotions. You have to be able to stop a losing trade, take your lump and live to trade another day.
You can start by joining the day trading chat room at Warrior Trading. That is a community of veteran and novice traders that follow along with the Warrior instructors as the instructors trade in the moring, calling out their trades and answering questions. It is a great way to build camraderie in a lonley profession and to learn from fellow traders.
Then you take the strategies that you learned and you practice for 1 month in a trading simulator, with virtual currency. You want to get to 60% accuracy and a profit/loss ratio of 1:1. Then you have scale that up to trading in real time. Scaling out of winners is a good way to make sure you are coming out of almost any trade with a small win. Warrior Trading classes can teach you how to do that.
For the most up-to-date- information on Warrior Trading and day trading in general, check out Warrior Trading on StockTwits.