Saturday, March 29, 2008

Should I start Trading..??

If you are still not about should you start trading then read this ;
Ask yourself why you want to day trade. Is it because you perceive day trading to be a relatively easy way to get rich quickly? Is it because several of your friends and colleagues are doing it. If so, be aware that none of these reasons are valid reasons to commence day trading. First, although one can make a lot of money day trading, it is far from easy to do so, and the risk of large losses is often there. Second, successful day traders have a true love or passion about their trading activities. If you do not enjoy reading charts, dealing with numbers, reading market news, interpreting stock quote screens, learning new trading strategies and working independently in a fast-paced environment, then day trading is probably not your cup of tea. In other words, day trade only if you think you will enjoy the challenge, and are prepared to spend considerable time to acquire the knowledge and experience necessary to become successful. Otherwise, look for something else to do.

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