Create a second income with day trading
Published by Manny on Tagged Finance-Investing
I thought my brother had lost his mind when he decided to quit his job and become a full-time day trader. Gerald had always been the responsible one and he’d never made a rash decision in his life. He began working out of his own home office, quitting his job at the bank in less than a week. I didn’t know what to say to my brother. My brother always was my role model, so I couldn’t point out his faults.
However, when I remembered my little nieces, I thought I should take a step back and inquire. I arrived at his home one weekend and asked him what was going on? I asked him why he gave up his great job that gave him a solid income and benefits. Gerald simply smiled and responded in his usual cocksure way that he knew what he was doing. At this point, I almost went out of control. I told my brother he was self-centered, and he should think about others. I regretted it as soon as the words came out of my mouth, but my brother simply smiled and said I was right.
{Though I had almost no interest in the stock market, Gerald pulled me aside later that evening and insisted on explaining to me why he had decided to become a day trader.} I did not understand any of it. I wasn’t really interested in day trading or the market. But my brother told me it wasn’t all black magic. He told me that there is a predictable rhyme to his reasoning.
I sat back and listened to his rap. To begin with, he told me that making a day trade was all about paying attention to one particular stock, when you do it yourself and do not use a day trading robot It could sometimes take watching a stock for several months before deciding if it was worth it for them to trade it. In the end, it all came down to patterns. My brother said that there were patterns that each stock moved in on a daily basis. Though you couldn’t exactly set your watch by these patterns, they gave brokers a good hint about where the price of a stock was likely to go.
And this was how my brother made his fortune. He never bet too heavily or put all of his eggs in one basket, but rather purchased small quantities of equities he thought would appreciate in price and watched them until it was time to sell. It was normal for him to trade the same stock many times a day. Though a successful day trade yields short term results it offers chances for repetitions during the course of a day.
His success at learning how to day trade got me interested to try my hand at it as well.Lucky for me, my brother is a great teacher, showing me what I need to study and learn how to do in order to be successful at day trading.I do not expect to get to be as good as my brother is at day trading, but I think it can provide me with some extra income.Iam really glad I overcame my fears and learned how to trade the stock market from my brother.
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