Trading Tip of the Week #1 April 5, 2017 13:57

Trading Tip of the Week #1

It's no secret that for most of you, your goal is to one day be a day trader. The image of being able to day trade part time while vacationing in the Caribbean has been put out countless times by countless day trading "gurus." Seems nice and easy doesn't it?

But before you invest your time, energy, and capital into trying to be a day trader right off the bat, allow me to provide you with a little warning...most likely, you will fail miserably. You will lose most of your account, and will be left wondering where you went wrong. 

In reality, where you went wrong was in trying to be a day trader without giving yourself time to learn and understand trading. 

That is why I always recommend to start first with swing trading, then once you have been profitable for some time, move into day trading if you desire. 

Why swing trading? Swing trading greatly reduces the stress and emotions involved with day trading by slowing things down. You can see things play out on the chart and can learn and grow with each and every trade. 

It's no secret that I believe emotions are the #1 problem most traders face, or the lack of being able to control their emotions. When real money is involved and the risk of losing your money is involved, emotions will be high. In a fast paced environment like the one day trading produces, emotions will be very high. If you haven't trained yourself to deal with these emotions, you're going to struggle big time. 

So my tip for all those considering getting involved with trading is to start first with swing trading. Heck, you may realize that alone is enough and never want to day trade again! But we must learn to walk before we can run. Swing trading is walking, day trading is running.

When babies try to go too fast right off the bat, what happens? They face plant. I don't want you to face plant with your trading! 

Get the proper trading education, paper trade for much longer then you think necessary, then move slowly into swing trading with real capital. The nice thing is, everything we teach can easily be applied over to day trading once you're ready! 

That's my tip for this week. Be patient, and give swing trading a try!

If you need some extra help or guidance, make sure to check out our Learn to Trade Like a Pro Course where we'll teach you the necessary principles to find success in swing trading! If you have any questions at all, let me know!