When you decide to make a day trading career, you need to find the most effective education on the web. Which means you have to find your want to over to Warrior Trading. Warrior offers the most comprehensive and impressive day trading education online. Finding good and reputable interactive brokers isn’t an easy task to do.
Classes
When you take classes on Warrior Trading’s site you need to put in the work to get the best results. But the combination of terminology education, techniques and strategies, with excellent instructors means that the results are attainable. You can learn how to identify the best stocks on a day to day basis, which free stock scanning software to start off with and how to use that software.
The key to starting off with free software tools is that you keep your overhead down, which allows you to make a profit earlier in your day trading venture. Start small and you will win big.
Chat Room
Warrior offers access to a daily chat room filled with veteran traders that will call out trades as they make them. And the community of traders is a great place to learn all the nuances and little things that go along with being a day trader. You are in a community of like minded people.
The chat room also offers a daily watch list of stocks that are ready to pop, courtesy of Warrior’s best traders.
Risk Management
The most important part of being a day trader is managing your risk. There is nothing worse than being on the short end of a trade, but holding onto that stock as it continues to dip, in the hopes of a rally that will make you whole. You need to cut your losses quickly.
And the core tenet of risk management is knowing exactly what your stop-loss is as you go into each trade. Each trade needs a loss figure that will automatically trigger you to pull out. You need to set that limit at the start of every trade. And you need to stick to it.
Day trading is about adding up 20-30% winners each week so you have a profit-loss ratio in the black. You will take losses, You just need to make sure that they are controlled.
Paper Trading
One way to learn your risk management skills is to go out there in the market and make a whole bunch of mistakes. But that could cost you your life savings. You would be wise, but poor.
The best option is to get yourself into a paper trading simulator, where you get to trade with virtual currency in a simulator that mimics the real market. Warrior offers a simulator that has Level II quotes and executes trades just like a real brokerage account.
Follow Warrior Trading on Twitter to find the most impressive day trading instructors on the Internet.
