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Steps to Start Day Trading

  1. Important rules - Basic facts and rules that are essential before you trade. New and experienced traders alike should not forget these important bits of information.

  2. Trading Computer – The gateway to the trading world, the proper computer system is a must for any day trader. I show you the hardware and software that you need.

  3. Day Trading Basics – Traders must learn to crawl before they can walk. This is the section that lays out the foundation with the basics.

  4. Additional Concepts – More advanced trading concepts for those who want to trade stocks.

  5. Direct Access Broker – How these brokerage firms work and how they can help stock traders execute their transactions better.

  6. Paper Trading – The saying “practice makes perfect” applies also to day trading. After a trader learns all of the necessary theory necessary, he still needs to simulate his trades on a simulator or demo. This section describes the proper method to demo trade.

  7. Start Trading – After learning and practicing, it is time to start [again, ONLY IF you feel ready]. I summarize the entire process and point you in the right direction.

Trading Currencies

Important information about the foreign exchange market and trading currencies. This section is the equivalent of sections 2 and 3 above, but it is written with the currency trader in mind rather than the stock trader.

  • Foreign currency prices – How to read and interpret foreign exchange quotes.
  • Pips not Ticks! – The difference between ticks (for stocks) and pips (for currencies).
  • Margin requirements - The flexible degree of leverage available to currency traders and how it compares to trading stocks.
  • Numerical trading examples - Various numerical examples that will help traders considering the forex market understand how money is made and lost in this liquid financial market.
  • Bid and Ask prices – How bid and ask prices work in the currency market.
  • Types of orders to buy and sell - Stocks and currencies can be traded using similar orders, but currencies provide unique order handling characteristics.
  • Technical analysis in FX - Discusses whether currencies can be effectively traded using charts and technical analysis.
  • Fundamental analysis - What it means to trade currencies using fundamentals and the inherent difficulties of trying to do so.

Advantages of Currencies Over Stocks

Why the forex (foreign exchange) market is the biggest financial market in the world (bigger than all of the world’s stock markets combined) based on BIS (Bank of International Settlements) surveys.

AutoTrade Robot

The automated program is designed by experienced traders and is designed to put your account on autopilot. It may be appropriate for traders that want to diversify their capital or for investors that don’t want to trade themselves.

Free Webinars

Register for a free weekly training webinar and become a better trader.

Trading Blog

Stay up to date with all new developments on day trading and our special offerings.

What is Scalping?

Referred to some as “day trading on steroids,” learn more about this dynamic method of operation.

Day Trading Strategy

Why it is important to follow a specific strategy or methodology when day trading. Every strategy should have the following sections well defined:

  1. Entry and Exit Signal

  2. Stop Loss Placement

  3. Smart Money Management

Day Trading and Risk

How much should you risk on each trade? How big should your positions be. This sections answers these questions.

Trading Definitions

Common terms all traders should be familiar with defined in language that is easy to understand.

Free Trading Simulator

Perfect for paper trading, a trading simulator allows a trader to mimic real-life trading in many ways. Fill out the form in this section to request it. This is a free 30-day trial that you can continue to renew by request when the initial 30-days are over or until you are ready to open an account start trading with real capital.

Educational FAQs

Answers to common questions about trading.

About the Day Trading Tutor

Find out about the author that has created this popular website.