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As day trading becomes more and more popular each year, a need for inside day trading tips and strategies becomes increasingly necessary. It’s easy to get excited when you first discover the world of day trading. The first thing most people want to do is rush into the market as fast as they possibly can. However, this is a major pitfall that besets a large number of first time traders and usually leads to less than satisfactory results. It’s critical that you are well informed about the successes and failures of preceding traders before you even consider your first trade.
There are a variety of factors to consider and, while day trading can be much easier to understand than other types of investment opportunities, there is a learning curve that must not be ignored. If the idea of studying up on the habits and strategies of successful day traders seems dull or uninteresting to you, it’s possible that day trading is not for you. However, if you can get yourself excited about the opportunities that day trading can offer an investor you should find a considerable amount of motivation develop for the study that will be essential for your success.
Just like anything that is valuable and worthwhile in this world, mastering day trading does not come easy. If it did, everyone would have mastered it and the practice would lose its purpose. Success only comes to the patient and the tenacious. Patience and tenacity are two of the most important tools to have in any trade. They are the tools that are fueled by failures and always move towards success. If you apply them to the world of day trading, you can be almost certain of your eventual success. In order to find the motivation for any task, you must be able to visualize the end result and make a compelling goal for yourself. With the right motivation, you will eventually find a way to realize that goal. However, it is not necessary to go through all the same trials and tribulations that it has taken for others to find success. By studying your predecessors, you can save yourself years of headaches and many failures.
Here are some of the top day trading blogs. Within these blogs you can find a veritable treasure trove of resources for your future day trading successes.
1. The Day Trading Academy Blog: Day Trading Blog – Here is a blog that takes the time to highlight daily results of day trading in the stock market through detailed and thorough market recapitulations.
2. TradingSim Day Trading Blog – TradingSim’s Day Trading Psychology articles are highly informative and resourceful. All in all, TradingSim Day Trading Blog is one of the most complete and useful day trading blogs available online.
3. On the Edge – The publisher of Hard Right Edge and a private teacher on the side, Alan Farley has created an extensive online resource for the purpose of educating traders and providing short-term trading techniques and technical analysis. Farley also authored “The Master Swing Trader,??? a McGraw-Hill best-seller. Furthermore, Farley writes for a popular column on The Street.com. Farley has been active in the day trading community for many years as an advisor, author, and, of course, a trader.
4. Day Trading with Anni: A Day Trader’s Passions about Trading and Life – Day Trader Anni has been blogging about day trading since 2007. She provides weekly market outlooks that are extremely useful for the new and experienced trader alike.
5. Greg Harmon’s Dragonfly Capital – Focusing on the Top 10 Trade Ideas for the Week, Sector Analysis, and Macro Week in Review/Preview, Harmon provides overviews of the best articles and macroeconomic events. His goal is to provide a 5 to 10% return in less than 10 trading days by screening The Top 10 Trade Ideas for the Week.