How much money does it cost to start day trading is one of the most common questions that I get when people contact me about getting started. I try to be as clear and honest on this site as possible and the answer to that question is very complicated. The reason why is because when someone starts day trading there is a learning curve which involves training. Training is unpredictable since everyone is unique and more importantly, everyone learns at their own […]
Market Recaps
23+ Points Today in 3 hours: Nov 18th Recap
Welcome back to Ethiopia! I spent roughly a day in Kigali, Rwanda exploring what I consider the Germany of Africa. Ethiopia Airlines has a habit of having flights in the WEEEE (did I spell that right?) hours of the morning. My flight left at 2am and I arrived at my home (Taitu Hotel) in Addis Ababa at around 7am only to find out that I couldn’t check in because someone else was in my room. What kind of country is this? I […]
Day Trading Recap Nov 3rd 2011
In order to become a good day trader we have to be able to identify, understand, and anticipate what the market is going to do. Nothing in the stock market is set in stone which is why day traders always have losing trades. Nothing works out 100% of the time. In order to develop your skill it becomes not necessary, but crucial, to be able to control your emotions and think 100% analytically about the market. I mention this in this post […]
Day Trading Recap for 11/2/11
Today lasted a lot longer than I wanted it to (especially compared to yesterday) but it was a great day none the less. The market has really been giving us great runs which led me to cancel all targets other than the 5pt max target. You can even see this behavior in the pre-market so I was anticipating a big day in terms of volatility. The behavior of the market quickly changed once it officially opened. Take a look how there was […]
Day Trading Recap Nov 1
Welcome to Somaliland! I have arrived at what is my final destination in Somalia where the internet is far superior than I ever imagined. I’ve managed to find a friend of a friend that also has internet in his home, very fast internet to be exact. When I arrived in the vastly misunderstood country territory I honestly didn’t think that I would be able to day trade. Ethiopia has some of the worst internet that I have experienced while I have been […]
Day Trading Recap October 21st 2011
After almost 10 days with internet speeds of the era of the Roman Empire I have finally secured a great connection here in Toliara, Madagascar. I’m currently using a Wi-Fi connection at the Bo’s Restaurant, if you are ever in Tolaira make sure to order the Zebo Steak, it’s excellent. Later I realized the reason why this is the only decent connection in the country, the main underwater fiber optic sea cable connects to Madagascar via Toliara. If you are interested in […]
Day Trading Recap October 20th 2011
Today’s trading is very unique because there was a variety of changing market environments. I’ve included today’s pre-market chart to give you an idea of what I was looking at before today’s trading. Hours of analysis isn’t needed, you can gauge what’s going on in the pre-market in roughly 5 or 10 minutes before you are ready to trade. You can see the indecision in the market with the erratic behavior; strong runs, long bars, whipping back and forth. Normally there is […]
Day Trading Recap: 10/4/11
I started looking at the market a bit earlier because there has been good movement in the premarket. It has worked out well so far especially since there is a great restaurant I have started to frequent every day. The first trade is a bit aggressive because the market overran our areas but the momentum was still there. Worked out very well if you notice, aggressive in, aggressive out. Didn’t look for a massive run just got out at the first area. […]
Day Trading Recap: 10/3/11
I have officially arrived in Madagascar! I would have loved to start day trading here in this fascinating country but I can already tell that the internet speeds for day trading are atrocious. They recently installed a new underwater sea cable from South Africa but it is the interior of the country. I inputted a few sim orders and it took the system a few seconds to put in the order and cancel it. If it takes that long to read a simulation order I’m […]
Day Trading Recap 09/30/11
Today is one of those days that I live for. It doesn’t happen often but when you have 100% winners it really makes you feel good. I still remember the day when I first started day trading that I decided to stop losing money and actually get on the ball. It was a Sunday around 5.05pm to be exact. I was back testing charts when I reviewed my logs and realized that I was making the same mistake over and over. Sound familiar? […]