Day Trading, the perfect home based business?

You will note the question mark in the subject line. I am so tired of hearing and reading everywhere that day trading is some easy gig that anybody can buy and ebook or take some course and suddenly become an expert at. Nothing could be further from the truth. Don’t get me wrong I understand that most of the people touting this nonsense are people trying to sell you that ebook or course and shame on them.

Day Trading could very well be the perfect home based business. But like any business it takes work, effort and a skill set. If day trading was as simple as these snake oil salesmen would have you believe why with all their simple foolproof systems does the day trading game still sport a 90% failure rate among new traders?

Well sadly a good part of that is due to this con-men. If you want to learn to trade, I mean really want to learn you have to take course and learn about the market and learn how to control your emotions most of all. But the way NOT to become a trader is easy, buy any one of these Day Trading Made Easy type course and then flush your money down the toliet.

I speak from experience having purchased many of them in my time to learn to experiment and just out of plain curiosity. 99% of them give you a bunch of mumbo jumbo about how rich they are going to make you while they quote killer trading days in their salespitch all the while neglecting to tell you those are demo results and a blind monkey could be in profit on a demo account.

Ok so what draws people to these people? It’s the lure of day trading, the ability to get up in the morning fire up that computer and click a few buttons and poof you’re up a few grand before you used to be taking your first coffee break of the day when you worked for the “man”. They sell hope, they sell dreams. They just leave out the real learning curve to get there.

Day Trading can be great, the upside is amazing, you really do get to be your own boss. You obviously can set your own hours within reason, depending on what markets you plan to trade. Unlike many online businesses out there you don’t have to recruit friends and family and you don’t need any of those crazy uplines, downlines, powerlines, upside down super duper matrixes… just little old you and your computer.

But don’t be fooled into the hype about how easy it is, or you too will end up on the heap of broken traders. Learn about day trading, learn the markets read some books, join a few trading sites, really see if this is what you are cut out to do. It’s really not for everyone.

When you’ve taken all the steps needed to get as much as you can, well then and maybe then you can start looking into various trading methods out there. But don’t fall for the old con, there are NOT secrets to trading, no old floor trader on his death bed passed on the secret method to make you rich, so don’t waste your money on those things. If you want to trade, hang out with traders, not MLMers.

If you need or want any further info on this crazy day trading game, drop me a line. I love to talk trading.