This plain-English guide shows you how day trading works, identifies its all-too-numerous pitfalls, and get you started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives you the knowledge and confidence you'll need to keep a cool head, manage risk, and make decisions instantly as you buy and sell your positions. Learn how to:
- Set up your accounts and your office
- Connect with research and trading services
- Plan and research trades carefully and thoroughly
- Comply with regulations issues and tax requirements
- Leverage limited capital
- Cope with the stress quick-action trading
- Sell short to profit from price drops
- Evaluate your day-trading performance
- Use technical and fundamental analysis
- Find entry and exit points
- Use short-term trading to establish a long-term portfolio
You'll also find Top-Ten Lists of good reasons to go into day trading, or run from it in terror, as well as lists of the most common (and expensive) mistakes day traders make. Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative and rewarding career.