Learning How to Day Trade

There is a lot of intimidation with new trader who are eager to learn how to day trade. Obviously, just about everybody's dream is to be able to make money from home, but a lot of traders are scared of the process of day trading. I have a feeling that traders think they have to be "experts" at the market in order to succeed. They think that only a select few can be successful.

Believe it or not, you don't have to be a trading genius to be able to day trade. If you ever got a chance to meet the "average Joe" day trader, you'll realize that intelligence is not a prerequisite to making money online. Quite a high percentage of them never even went to college. Successful day trading can be achieved by anybody!!

You've got two schools of traders. You've got the trader who uses technical analysis, and you've got the trader who uses fundamental analysis. The vast majority of day traders use technical analysis. The problem is people misconstrue the term "technical analysis". They think this means using several indicators to create a mechanical trading system. This is in fact, the opposite of analysis.

After all, if your indicators are the ones telling you when to trade, what exactly are you analyzing??? The trader analyzes the market, not the indicators. If more traders took personal responsibility for their trades, instead of just outsourcing it to their indicators, you'd see a much higher percentage of winning traders.

John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

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