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Is this one of your expectations? |
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This page is for those who are either new to trading, or having difficulty making money with it:
First of all, let's not become (or continue to be) caught-up in the excitement of day or position trading without reminding ourselves of the reality...
Assuming that you already have (or will soon have) the technical expertise to analyze trading charts, and you already know about Japanese Candlesticks, divergence, MACD, RSI, Stochastic, LRS, Fibonacci, trend-lines, and a host of other day trading indicators, what are your day trading expectations?
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Is this one of your expectations? |
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Or is this? |
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The fact of the matter is - successful day trading must be conducted as a business.
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Day trading involves long, tedious hours, staring at the charts. |
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Much of the time things do not go as planned. |
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At the end of the day you may find yourself emotionally drained. |
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What Are You Up Against?
Remember that whenever you buy or sell, there is another trader on the other side of your position who has the opposite opinion of what the market is about to do. Is that trader correct, or are you? They say, "Knowledge is power," so who has the advantage? Who has the best information about what the market is possibly going to do in the near term?
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Are you trading against someone with (hardware) technical advantage like this? |
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Even if you have a computer setup like this, is it keeping you posted about the information you need to make good day trading decisions?
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| Say it isn't so!! |
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In a field of endeavor as difficult as day trading, don't you think you should put more of the power of your computer to work in your technical analysis? Are you missing things - important things like divergences in RSI, MACD, LRS, and Stochastic? Are you trying to go long at Fib resistance and wondering why the market hit you in the face? Not only this, but what about what might be happening on trading charts running in the background? Instead of just your sense of "sight," shouldn't you add the sense of "sound," by having your computer bring these things to your attention? They say that "necessity is the mother of invention." About ten years ago, I started developing My Trading Assistant for use in my own personal day trading. MTA is not a "trading system," but a "trading assistant" that works with TradeStation as special day trading indicators and voice alerts. It will bring certain trading chart patterns and other technical analysis occurrences in the market to your attention - using a female voice (Beth). As the trader, you then decide what to do about it. Because of requests for "demos" and questions about what is included in the set, we developed a comprehensive listing of all the indicators, along with some training videos. These will demonstrate to you all the "bells-and-whistles" of our trading indicators. These videos and graphic illustrations show more than any brochure or any discussion we could have about what the tools can do to assist in your day trading decisions. For example, in the section describing the Japanese Candlesticks, you not only learn about candlesticks, but see illustrations of how the voice tools show up visually and aurally in real-time. Other sections illustrate divergence, Fibonacci price levels, pivots, trend lines, and many other important aspects of trading. Additionally, there are a dozen new super-tools recently added that are like trading on steroids. (These are illustrated with videos.) There are also other illustrations of how our trading indicators work and play well together on our forum. MTA is priced for all levels of participation - from the novice to consummate trading expert. Accordingly, we have different tiers of pricing. Take a look at our suite of trading products. Thanks for your interest in Beth - My Trading Assistant. |
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