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ments. They have learned the value of patience and discipline. This group is made up of active, successful day traders. |
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OK, we've all read in the press that day trading is a bad business, that day trading companies encourage too many trades, that everyone loses money, that you would have to be brain dead to try day trading, and on and on. The problem with those stories is that they just are not true. |
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Certainly there are some bad day trading firms, and certainly there are people who lose money. But don't condemn the whole industry. There are some excellent firms and some remarkable traders who have shown everyone what day trading couldand shouldbe. |
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One of the authors of this book was the president of the largest day trading firm in the country, Cornerstone Securities (now ProTrader Securities). Cornerstone has long been a responsible industry leader. Taken directly from the ProTrader Web site are these ProTrader statistics for 1999: |
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Yes, that's million, as in gobs of money. As the commercial says: "These guys are good." |
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These experienced traders have discovered how to consistently make money in the market, regardless of what the market throws at them. These groundbreaking day traders are showing the rest of us the way. |
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They have proven that trading isn't hard. It's not some complicated mystery decipherable only by the few geniuses among us. Successful trading can be taught to almost anyone. |
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They have taught us that it doesn't matter what trading style you use. It doesn't matter what your trading rules are. Discipline is the key to success. |
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They have really taught us thatto succeed in the markets, all that matters is that you learn three vitally important things: |
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1. Where to trade: making the right choices about your online broker, your Internet service provider, and your hardware configuration. |
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2. How to trade: learning about trading psychology, market mechanics, trading strategies, risk management, capital management, and trading with a plan. |
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3. What to trade: developing an ability to spotand to act onhigh-percentage trading opportunities. |
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