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For New Daytraders - Why Some Day Traders Fail - Part II
I have traded over 38 years. I had my first "live" data feed via telex service in 1962. That is before a lot of you would be trader investor's were born. I have seen thousands of companies go broke, never to be heard from again. Consider Packard Motor Car Company, a major supplier of PT boat engines and tank engines in WWII, or Studebaker, makers of the Hawk and other fine performance cars.
Consider the congressional bailout of Chrysler to save itself and recently the announcement of Montgomery Ward folding up after 128 years and at least one former re-organization had already occurred. Think about the thousands of companies that have been folded up, assets sold, or bought up when in trouble by another company.
Stocks can turn into wallpaper and be worthless. You must have extensive financial knowledge to trade successfully in the stock market and you must be prudent in your investment choices.
In addition to all the above, you also have costs in trading or investing in stocks. You have a commission to pay when you buy the stock, a commission to pay when you sell the stock. Yes, these days in can be as little as the $5.00 advertised by some brokers for market orders, but orders to sell a security or buy a security at a limit order or stated price do not qualify for these low rates. The point I want to make here is the fact that you pay a commission going in the investment or trade and leaving the investment or trade. Both in and out: a double whammy of costs.
At DaytradersBulletin.com we offer education, mentoring, teaching, and real time trading suggestions to our subscribers. For the person that has the ability to open and fund an account we have the ability to literally reduce the learning curve substantially.
We offer trading real time suggestions to either the S & P 500, the mini S & P 500, or the mini Nasdaq 100 futures contracts.
Through our service, you will learn the "lingo" of the markets
and the order types we use to trade live in real time right before your
eyes. You will learn about charts, as the chart of the markets movement
is the backbone of any successful type of investment. If you do not know
anything about charts I have real personal empathy for you as I personally
lost my first $60,000 in the stock market before I knew what a chart was
or even cared about a chart of the market or the specific security involved.
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