Discover and learn day trading
I thought my brother had lost his mind when he decided to quit his job and become a full-time day trader. Gerald is well known for always approaching things carefully and never doing anything in a reckless manner. But in less than a week he quit his job at the bank and began working out of his home office. I didn’t know what to say to my brother. He had always been my role model, my big brother, and so I found it hard to criticize him.
However, when I remembered my little nieces, I thought I should take a step back and inquire. One weekend when I got to his home I asked him what was up. I asked him why he gave up his great job that gave him a solid income and benefits. Gerald just smiled and responded in his normal self assured manner that he was very aware and very familiar with what he was doing. At that point I nearly lost it. I told my brother he was self-centered, and he should think about others. I thought twice as soon as I spoke those words, however my brother only smiled and agreed with me.
{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.} To me it was all Greek. I couldn’t tell a day trade from a hole in the ground and I had no interest in following the market. Nevertheless my brother told me it wasn’t the entire black magic. He told me that there is a predictable rhyme to his reasoning.
I sat back and listened to his rap. He found that the most successful day traders gave their attention to just one or two stocks. Sometimes it took them several months of watching a stock to decide that it was worth it for them to trade it. All in all, it just 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. The way he made his money was simple. Instead of buying big, he bought small and watched his profit grow slowly over time. It was normal for him to trade the same stock many times a day. In the end, a successful day trade was all about short term results and something that could be repeated several times a day.
This got me interested in learning how to day trade 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.