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Day Trading - Free Helpful Hints
By Markus Heitkoetter
If you are interested in day you first need to know what it is all about and to understand the basics of day trading. As a career, day attracts individuals from many walks of life.
Important: The principles presented in this article mainly applies to day trading. But these info can also be used for stock trading, currency and futures trading.
What is Day Trading?
Day generally stands for the system of selling and buying financial tools such as bonds or stocks throughout the day. Many day traders sell their positions before the market close of the day to avoid the risk of price gaps (differences between the previous day\'s close and the next day\'s open price) at the open.
But don\'t be fooled by all the glory of day trading. Day is extremely risky and can result in substantial financial losses in a very short period of time. Estimates are that 80% to 90% of all those who begin day today will lose their capital within the next 12 months.
It is necessary to plan your business and prepare a proper strategy for achieving success at day trading. Day is like running any other kind of business.
Here are some tips that will help you to succeed with day trading:
- It is a good idea to record all of your day results.
- Get a mentor. Is there any serious profession that you can learn without a mentor?
- Before jumping into day trading, remember to do your homework first.
- Learn from your losses - take advantage of each loss to improve your knowledge of the market.
- Be picky when selecting your trades. Remember, the important point is how much you earn in a month and not on how many times you execute orders.
Characteristics of Successful Traders
If you want to succeed with day trading, then you should do exactly what the professional traders do:
- Novice traders spend all their time working on entries, while seasoned traders know that the really difficult
Cash back at Rite Aid...
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<div class="field-item"><p>I was pleased to find an e-mail in my inbox this morning announcing the return of Rite Aid's Gift of Savings program. Basically, the chain rewards you with a gift check for your holiday spending. From Nov. 16 through Dec. 24, spend $25 to $50 and get $5 back. Spend $51 to $100 and get $10 back. Or, spend $101 or more and get $20 back. This is great because you can accumulate your savings over time, while still using coupons and participating in Rite Aid's normal rebate program. You will need to be a member of Rite Aid's Single Check Rebate program to participate. If you are unfamiliar, you can read my explanation of the program <a href="/taking_stock/coupons_101_rite_aid_rebates_explained" target="_blank">here</a>.</p></div>
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Sam's Club and Black Friday...
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<div class="field-item"><p><img src="/sites/projects.newsobserver.com/files/images/SAMS_Logo_4CP_OL.preview_0.jpg" alt="" width="112" height="112" align="left" />For those of you who are planning to shop at Sam's Club on Black Friday, here's a little warning for you. Unlike previous years, when Sam's would issue guest passes for non-members, this year, the prime hours of 5 to 10 a.m. are going to truly be reserved for members only. Sam's says this is a way to reward their members and give them first crack at the big Black Friday deals. If you need a little incentive to join, Sam's is offering a $10 gift card bonus for those who sign up for membership between now and Thanksgiving. You could use that card on Black Friday to maximize your savings, or you could save it for a later date.</p></div>
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Nestle recalls Lean Cuisine...
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<p>Heads up, shoppers. Nestle Foods is recalling nearly 900,000 pounds of Lean Cuisine chicken entrees because there may be pieces of plastic in them. The affected products were Pesto Chicken with Bow Tie Pasta, Chicken Mediterranean and Chicken Tuscan.</p><p>This is the second recall this month for Nestle. On Nov. 7, the company recalled two different varieties of Nesquik Strawberry Powder.</p><p>For the product codes involved in both recalls, click Read More. </p> <div class="node-blog-teaser-footer">
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Plan for Cyber Monday...
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<div class="field-item"><p>If you're a the kind of shopper that prefers to click your way to savings from the comfort of your own home, you probably know all about Cyber Monday. That's the nickname given to the Monday after Thanksgiving, which is typically a crazy busy day for online shopping Web sites.</p><p>The National Retail Federation has redesigned its Cyber Monday shopping page, which can be a useful tool for those of you planning to hit the virtual stores. Among the new features this year: a comparison feature that searches all of the Web site's partner merchants for the best deals, the opportunity to register your e-mail address to get early alerts about good deals, a deal of the hour promotion and a new green product shopping category. You can find the Web site <a href="http://www.cybermonday.com/" target="_blank">here</a>.</p></div>
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A sale for book lovers...
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<div class="field-item"><p>Just a reminder that the Wake County Public Library Booksale begins tomorrow in the former Super Kmart at 4121 New Bern Ave. in Raleigh. There will be more than 300,000 books for sale. Here's the schedule:</p><p><strong>Wednesday:</strong> noon to 9 p.m. <strong>Thursday and Friday:</strong> 10 a.m. to 9 p.m.</p><p><em>(Prices the first three days are $4.00 for hardbound books; $1.00 for paperbacks)<br /></em></p><p><strong>Saturday:</strong> 8 a.m. to 8 p.m. <em>(Prices on Saturday are $2.00 for hardbound books; 50 cents for paperbacks)</em></p><p><strong>Sunday:</strong> 10 a.m. to 6 p.m. <em>(Prices are $5.00 per box; $2.00 per bag with the library providing boxes and bags)</em></p></div>
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What are you ISO?
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<div class="field-item"><p>It's Monday, so I thought this would be a great time to put up one of those posts where readers of Taking Stock can help each other out. Is there an item you've been desperately combing the stores for? What are you in search of? (ISO for short) Post it here and maybe one of your fellow readers can help you out. </p><p>If you're posting an ISO item, be as specific as possible. Give the brand, describe the package, etc. If you're responding to an ISO posting, be as specific as possible. Give the store name, location, etc. so that the other person can actually go find it! </p></div>
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You're on the clock...
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<div class="field-item"><p>To me, one of the best parts about shopping is having a chance to chat with the cashiers. Of course, part of that is because it's my job to know what's going on in stores, and employees are always the ones with the scoop. But part of it is also just because I like talking with people. At stores where I am a regular, I know many of the cashiers by name. </p><p>So I was surprised by <a href="http://online.wsj.com/article/SB122651745876821483.html?mod=dist_smartbrief" target="_blank">this Wall Street Journal story</a> about an efficiency program being implemented by midwestern grocery chain Meijer. The company is timing its cashiers, starting the clock when the customer's first item is scanned and stopping it when the receipt is printed. The faster you go, the more efficient you are deemed. I understand that companies need to look for efficiencies wherever they can nowadays, but I have to wonder if this will backfire. Who likes to feel rushed when they are giving a store some of their hard-earned money?</p></div>
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From my inbox...
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<div class="field-item"><p>I had a couple of interesting e-mails this morning:</p><p>*Walgreens is offering $10 off your holiday photo gift order of $40 or more (that's like photo mugs, calendars, photo books, etc.) The deal is good through Nov. 22. Use coupon code HEADSTART when you check out online.</p><p>*Barnes & Noble is offering a free silver-plated picture frame when you spend more than $75 online. You can view the details on that deal <a href="http://www.barnesandnoble.com/holiday-gifts/index.asp?r=1" target="_blank">here</a>.</p><p>*And Petco is offering free shipping on online orders of $50 or more with the coupon code "autumn." There are some exclusions, including pet food. You can view the details on that one <a href="http://www.petco.com/Help/Promo.aspx?OrderPromoCode=autumn&cm_ven=email&cm_cat=prod&cm_pla=111608HolidayTravelDog&cm_ite=shopnow&MessageID=100376" target="_blank">here</a>.</p></div>
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New Attraction Book...
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<div class="field-item"><p><img src="/sites/projects.newsobserver.com/files/images/attractionbook.jpg" alt="" hspace="7" vspace="7" width="99" height="142" align="left" />The new 2009 Attraction Books are out, featuring coupons from dozens of local businesses. I like these because they are very local and there are a lot of BOGO restaurant coupons. There are also some coupons for national chains, including CVS, World Market, Michael's, AC Moore and Dick's Sporting Goods.</p><p>The books are $25 each, but I do think you will be able to make them pay for themselves pretty easily. There is a "Triangle" book and a Johnston County book. If you get a bunch of friends together, you can decrease the cost each of you pays because the company is offering a buy five get one free deal. And shipping is free as long as you choose standard shipping. <a href="http://www.attractionsbook.com/" target="_blank">Preview the books or order one here</a>. </p></div>
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Reminder: Dinner for vets tonight...
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<div class="field-item"><p><img src="/sites/projects.newsobserver.com/files/images/Honoring%20America's%20Bravest.preview.jpg" alt="" hspace="7" vspace="7" width="244" height="183" align="left" />Just a quick reminder that Golden Corral restaurants will be honoring veterans and active military personnel this evening with a free dinner from 5 to 9 p.m.</p><p>While you're there, you might think about participating in the company's postcard campaign, which sends postcards of thanks and support to troops overseas. Last year, the company sent more than 55,000 postcards to troops. This year, the goal is 75,000, and today is the last day of the campaign. The postcards should be available in restaurants, so all you have to do is fill one out and hand it back in! </p></div>
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Cool Target gift cards...
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<div class="field-item"><p>Each year, retailers roll out new gift card designs in time for the holidays, but Target has a few new cards that are really different.</p><p>Pictured here are three examples, one that is a tin filled with holiday M&Ms, one that lights up (the one with the house picture) and one that doubles as a digital camera. There is no extra charge for these cards and they can be loaded with any value from $5 to $2,000. The only caveat is that there is a minimum value of $50 for the camera card.<img src="/sites/projects.newsobserver.com/files/images/target%20card%203.jpg" alt="" hspace="7" vspace="7" width="146" height="97" align="left" /><img src="/sites/projects.newsobserver.com/files/images/target%20card2.jpg" alt="" hspace="7" vspace="7" width="160" height="100" align="left" /></p><p><img src="/sites/projects.newsobserver.com/files/images/target%20card.jpg" alt="" width="134" height="90" align="left" /></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p></div>
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It's time for calendars...
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<div class="field-item"><p>I heard this week from reader Cat, who said she was at the ACE Hardware in Raleigh's Seaboard Station and noticed a giveaway of a 2009 calendar with a coupon inside for each month. According to Cat, there are 5 coupons for $5 off your $25 purchase distributed throughout the coupons on the calendar, each coupon being good for a month. ACE is one of several retailers that has coupon calendars. I know Chick-fil-A has one as does Auto Bell. There are charges for some, but they can be really worth the money and can also make good gifts. Just something to think about as holiday shopping time approaches.</p></div>
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Today's coupons are up...
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<div class="field-item"><p>Well, there were more than 170 new coupons in this morning's paper, and there were some really good ones!</p><p>Be sure to catch the one-page insert from Kroger this morning, too. There are nine coupons on that flier, and note that all but one of them are manufacturer's coupons, meaning you can use them at any store. And if you use Bounty paper towels, there's a Bounty coupon on page 9 of Parade today, too.</p><p>Happy clipping, everyone! As always, if you prefer the database in an Excel spreadsheet, it is available for download below. </p><br /><br /><b>Document(s):</b><br /><a href='http://projects.newsobserver.com/sites/projects.newsobserver.com/files/Find a Coupon 1116.xls'>Find a Coupon 1116.xls</a><br /></div>
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Nutro dog food rebate...
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<div class="field-item"><p>If you feed your dogs Nutro dog food, you may be interested in this one.</p><p>The company is offering up to $10 back on the purchase of Natural Choice High Energy Food. The rebate gets bigger if you buy a larger bag. To get the full $10, you have to buy the big 35-pound bag. If you buy the smaller 5-pound bags, the rebate is $3. The purchase must be made by Jan. 2 and postmarked by Jan. 16. You'll need the form below! </p><br /><br /><b>Document(s):</b><br /><a href='http://projects.newsobserver.com/sites/projects.newsobserver.com/files/Nutro rebate.pdf'>Nutro rebate.pdf</a><br /></div>
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Free ice cream with your turkey...
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<div class="field-item"><p>If you are planning to buy a turkey from Earth Fare for Thanksgiving this year, take the flier I've attached below with you.</p><p>The retailer is giving away a free 56 oz. tub of ice cream with your turkey purchase (retail value $4.99). Earth Fare all natural turkeys are going for $1.99 a pound, and organic turkeys are $2.99 a pound. It's one per customer and the certificate is good only on the day you pick up your bird. </p><br /><br /><b>Document(s):</b><br /><a href='http://projects.newsobserver.com/sites/projects.newsobserver.com/files/free_ic.pdf'>free_ic.pdf</a><br /></div>
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decisions in involve exiting profitable positions.
- Most successful day traders have a true love or passion about their day activities.
- Practice paper until you become completely comfortable with the day system and confident in your ability to use such techniques as \"buy/sell orders\" and \"stops\".
- Successful traders have one to three things that work and they use them over and over and over and over again for as long as they are profitable.
- Successful traders identify what type of trader they are and do not try to trade a methodology that does not fit their personality.
In Conclusion
Matching a method of day with your personality is the only way you will ever feel comfortable in the markets. Go with the flow Be conservative, and do not let the position take control of your account. Do not expect to become an expert day trader overnight. Article Source: http://www.ArticleJoe.com Markus Heitkoetter is an expert on information related to Day Trading and Online Day Trading. For more information visit his website www.free-daytrading-info.com/
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