Thank you so much for the advice. So much feedback came in it was tough to digest all the suggestions. From what I take on my question is to really learn day trading effectively would be to shadow someone. Can we all agree on that?
What is the best way to learn how to day trade?
- Thread starter daytradelearner
- Start date
Hey learner,
I just want to say my own opinion at this stage of scalping ES. You really need a methodology that works. In order for you to have the discipline to execute the plan, the plan has to work in the first place. Not the other way around. Fixing psychology or practicing bad trading while there is no real sound way (not the kitchen sink approach) will only lead to mathematical ending.
Like my wife's Buddhist teacher said many years ago: "He doesn't know how."
So far, I would not be able to trade any of third party methods out there successfully because their model are too far from reality. Best of luck.
Keep your day job.
The thing about trading is that the methodology, the psychology, and the money management are all equally important. They're like a cord of three strands. Only being excellent at two is a losing proposition. Strengthen your weakest one, and when it's not your weakest one, focus on your new weakest one and strengthen that until you are more than compotent in all three areas. The most important one is the weakest one. Most people focus on the method first because it's not until after their method is good that they are able to see just how much their money management and/or psychology sucks. But it's not a heirarchy of importance here. All three are bound together.
The ONLY way to learn to trade is by having a Mentor !!!
It's the way its been done on Wall Street for decades.
My recent student is now ready to go live after 6 months of paper trading.
It's the way its been done on Wall Street for decades.
My recent student is now ready to go live after 6 months of paper trading.
What is the best way to learn how to day trade?
A mentor would be good, but is not necessary.
In the end all you need, is yourself and the markets.
Together with a big box of motivation.
A mentor would be good, but is not necessary.
In the end all you need, is yourself and the markets.
Together with a big box of motivation.