subject: Day Trading Your Way To Triple Digit Growth [print this page] Day Trading Your Way To Triple Digit Growth
Day trading is quite often perceived by many beginner investors as a "get rich quick" formula to wealth and fortune. And for some this may have very well been the case. However, for most investors who attempt to take their financial future into their own hands, day trading can end up leading them down an extremely long and painful journey through bankruptcy lane.
The problem that most "part time" day traders face when attempting to manage their own finances is that they simply do not have the time, resources, or skill set to actively manage their own investments. Let's be honest here, if day trading was so easy then anybody would be able to make millions doing it. The grueling truth however is that it's very hard to make a profit unless you literally have the time to turn your part time day trading hobby into a full time job.
Before accepting the exciting and thrilling challenge that day trading has to offer, you need to first ask yourself if you have what it takes to handle the emotional roller coaster ride that comes with day trading. We often find that investors who are able to confidently answer yes to the below three questions may actually have a shot at trading their own portfolio.
Do you have at least 4 hours per day to put into researching the stock markets?
Can you afford to spend thousands of dollars in getting the investment research needed to consistently profit?
Do you know how to read and analyze corporate financial statements in order to attest to the financial stability of a stock?
Do you know how to read stock charts and identify technical patterns indicating which direction a stock may move?
I have good news and bad news. The bad news is that if you answered NO to any of the above 4 questions then day trading may not be for you. The good news however, is that there is a way to have your cake and eat it too. When just starting out your day trading career, ALWAYS use a research partner first. There are literally hundreds of research membership sites that you can choose from, and they will all help point you in the right direction when just starting out.
Think about this for a minute. If the hardest part of day trading is keeping up with the hundreds of hours in research that you know you can't keep up with, then why not immediately delegate this to the pros? So what if it costs you a couple hundred dollars a year. If that money helps you to generate bigger returns and allows you to spend more time with your family and friends rather than being buried behind paperwork then wouldn't it be worth it? Besides, it takes money to make money!
Your online brokerage account is not an online gaming casino although so many investors treat it like such. Luck doesn't generate double to triple digit returns, the right investments do. And how do you know which investments are the right investments? That's right, the right information at the right time delivered by professional experts that know what they are talking about! One membership site that comes to mind that has done quite well for beginner day traders is Elite Inside Trader Pro. They've been around for a while and have quite a successful track record picking winning stocks that continuously outperform the S&P500 by more than 2-3 hundred percent each year.
Elite Inside Trader Pro, as well as many other investment research membership sites out there will not only give you their research handed to you on a silver platter, but they will also come accompanied with stock picks that are poised for huge returns. Remember, if you answered "NO" to the above 4 questions, then you need to be very careful and think twice before deciding how you will manage your portfolio. Day trading is serious business and the last thing you want to do is lose the shirt off your back because you weren't prepared.
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