A lot has been made of this idea of “Prosperous Day Trading” – what is it? How does it work? What makes a “prosperous trade” different from a regular trade.

Well, you’re in luck – because I’m going to explain Prosperous Trading to you in DETAIL…and then I’m going to tell you how you can watch a VIDEO showing an example of a Prosperous Trade.

So, first off, let me explain Prosperous Day Trading, and how that differs from “regular” day trading.

When people hear the term “Prosperous Day Trading”, they assume that simply refers to a “successful trader”, or a “wealthy trader”. But this isn’t true – as I’ll explain in a minute.

Most people also assume that in order to be a successful Trader, you’ve got to spend hour after hour chained like a slave to your computer, while you execute an ultra-complicated trading strategy, which requires you to make day trade after trade after trade.

So, essentially, day trading becomes a “JOB” – and a high-risk and high-stress job at that.

Well, the ideal of Prosperous Trading suggests that this “traditional” reality of Day Trading can be thrown in the trash can.

You don’t NEED to spend hours a day trading in order to be successful. Your day trading strategy doesn’t need to be complicated at all – you don’t need fancy stock charts, you don’t need technical analysis, trend lines, Stochasitcs…you can forget ALL of that mumbo-jumbo.

And you don’t need to spend hour after hour a day making trades.

In fact, as a Prosperous Trader, you can Dominate the Markets, while you execute a very simple trading strategy, spending just a few minutes a day at your computer, making just a few trades a WEEK!

And if the above statement is true (which it is), then you can go out there and just LIVE YOUR LIFE! This is the CORE of what Prosperous Trading is all about.

You see, Prosperous Trading is about MORE than just making money. It’s about LIFESTYLE – about freeing yourself from your computer and your stock charts so that you can actually ENJOY your life – doing what you WANT to be doing.

And unless you’re a glutton for punishment…I’m willing to wager that the idea of sitting at your computer trading all day long isn’t your idea of a “good time”.

So, the question that naturally follows is…how? How can you become a Prosperous Trader? How does that work? The key is you need to figure out how to trade successfully and profitably in a minimum amount of time. I call it “extreme trading efficiency”.

And here’s what you need to know to make that happen:

1. You need to know when the market will have a significant movement. Exactly. To the second.
2. You need to know how MUCH movement there will be.
3. You need to have simple, yet effective strategies for capitalizing on that movement in either direction.

If you have those three requirements figured out, then you’re set. You’ll have what you need to become a Prosperous Trader.

But…what if you had a little extra icing on the cake – if you had all three of the above requirements…and then you even had SPECIFIC price points where the market was likely to have a reaction?

Then you’d be trading with DEADLY precision.

If you’d like to see an example of a Prosperous Trade, then click here: Learn day trading secrets.

So there you have it. You’ve seen a prosperous trade. You can see how you can spend literally a few minutes a day trading, make a trade or two…and then be DONE. Shut down your computer, step away from your desk…and go out there and LIVE your Prosperous Life. So…you’re most likely wondering right now…how can YOU make this your trading reality? The answer is very simple.

Author: Christopher Call
Article Source: EzineArticles.com
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Day trading has become a popular vehicle for (attempting to) create or maintain wealth. Every single day, thousands of new Day Traders emerge from the sidelines, primed and ready for action. They eagerly seek to learn day trading success strategies used by the Master Traders.

However, when a new or a struggling day trader begins to investigate and explore the world of Trading, in an effort to make their own dramatic entrance or to improve on their results, they are confronted by a world full of seemingly insurmountable challenges and obstacles.

But these new and/or struggling Traders don’t realize that MOST of these obstacles are myths.

And because they fail to recognize this, these new or struggling Traders typically fall prey to one of the 5 Great Myths of Trading:

1. Day Trading always requires massive capital accounts, both to learn, and then to execute a Day Trading Strategy.

It is true that in many cases you do need massive capital up front in order to step into the Trading arena, depending on where you learn trading, and what investment vehicle you choose to trade. But it certainly doesn’t HAVE to be.

In fact, it’s possible to secure an excellent Trading education AND fund a trading account with as little as $3000.

This is a little known fact among newbie Traders – they assume they’ll need to have at least $25,000 to open a trading account, on top of the $10,000+ they paid an “expert” to learn a trading system.

2. Day Trading always requires countless hours spent chained to your computer, staring at stock charts.

The stereotype of a Day Trader is someone who spends ALL DAY LONG glued to their computer screens, staring at stock charts, waiting for indicators to tell them its time to make a move.

And in large part, this stereotype is justified, because this is true of most Traders. These Day Traders will literally spend HOURS, if not ALL DAY LONG at their computers trading.

They use Trading as a means to escape the corporate rat race… only to find themselves in a J-O-B of their own creation.

But it doesn’t have to be this way. In fact, it is entirely possible to be an incredibly efficient and successful Trader while trading for just a few minutes a day – if you know how.

3. It takes months (or even longer) to learn and fully grasp a “successful” day trading strategy

Like the other myths, this one CAN be true, and IS true of many (most?) traders. The reason for this is most traders use technical trading systems and strategies.

The primary problem with these technically strategies is actually the topic of Myth #4 (to follow) – but suffice it to say that technical trading systems will take months to learn, and involved hundreds if not THOUSANDS of “practice trades” before you can possibly be ready to start trading “live” (i.e. with real money).

And when you DO go “live”, that doesn’t mean that you’ve fully grasped the trading strategy. In fact, it will be months or even years after going “live” before you likely have a firm handle on your technical trading strategy or system.

But like the other Great Trading Myths, it doesn’t HAVE to be this way.

In fact, it is possible to learn certain trading strategies and be ready to successfully implement them in a matter of weeks, or even DAYS.

If you know what these ultra-efficient strategies are, and where to find them.

4. You need a PhD in Advanced Statistical Theory in order to trade successfully.

This myth is a little bit “tongue in cheek”, but you no doubt understand the concept here. Many day traders typically employ a Technical trading style, which involved the use of statistical probability formulas and other highly complex technical indicators.

New traders see the level of complexity often involved with technical trading or “trend trading”, and are so intimidated by it that it keeps them from ever trying learn day trading.

Also, most people who try to learn technical analysis will struggle and eventually fail, because it IS so complex, and the technical indicators can often be very ambiguous.

The extreme complexity of technical trading systems may be the single biggest factor that prevents new traders from entering the Trading Arena.

5. You don’t need to learn how to trade from a professional – you can just teach yourself.

Of all of the 5 Great Trading Myths, this one runs the most rampant, and is responsible for destroying the overwhelming majority of trading accounts.

If there is one thing that new Traders need to understand, and that struggling or failed Traders understand all to well, it’s this:

You are going to have to pay for your trading education, one way or another. You can either pay to learn how to trade from a Professional, OR you can pay the Market.

And the market is a much more cruel, and a much more expensive instructor than nearly any Trading professional that will teach you how to trade.

Those Traders who want to try to “figure out how to trade” all on their own, with maybe the help of a book or two, will quickly discover that this is absolutely true.

The Market loves to dine on the trading accounts of inexperienced and uneducated day traders. Don’t let YOUR trading account become an afternoon snack for the Market.

When you are finally ready to learn day trading, explore the various options available to you before settling on any specific day trading system or strategy.

Author: Christopher Call
Article Source: EzineArticles.com
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Successful Day Trading Strategy is dependent on many variables, rather than just one “magic day trading pill.”

The day trader’s skill level, for example. Or his or her day trading experience level. Or the quality of the day trader’s training. But there is one variable that is often overlooked when people assess their overall day trading strategy, and/or try to figure out why they can’t seem to win a trade to save their lives.

There are many Traders out there, new and experienced, that have lost trades before they ever hit the “execute” button on their trading platform. These traders can’t seem to win trades consistently. Their losses far outpace their day trading success.

They’ve taken the time to learn day trading, and they have what they THINK should be a winning day trading strategy, but they still keep losing. But these day traders can’t figure out why (or, rather, why not).

They are doing everything right, following their day trading strategy to the “T”, charting their course.

So why is that some Day Traders are so successful, and other’s just aren’t?

There may be many reasons why, but there is one BIG reason that is responsible for the failure of many would-be day traders.

Here is a key day trading tip – Day trading is an art, not a science. An artist’s attitude and outlook is reflected in his art. If an artist has a negative attitude, a defeatists attitude, then that is reflected in his art.

Successful Day Traders have a Winner’s Mentality.

They go into a trade with a positive outlook, fully expecting to win that trade. Sure, they don’t win every trade. But they are mentally prepared for it when they do lose, and can overcome it, and get back on track for successful trading. But most importantly, they are mentally prepared BEFORE they ever enter a trade.

If you have a Defeatist attitude, you will lose far more trades than you win.

Why? Because your thoughts affect your actions.

Your Fear of loss will cause you to hesitate, and get into a trade too late, or miss it outright all together.

Your Fear of Loss will cause you to panic if a trade starts to go against you, and hit the EJECT button, locking in your losses, rather than trusting your day trading strategy.

Your defeatist attitude can even skew how you see the market’s behavior. If you have a defeatists attitude, you might see a positive indicator as negative, and enter a trade in the wrong direction. You might misinterpret what is happening leading up to your trade, causing you to execute poorly. And your Defeatists attitude will cause you to place sole blame on your day trading strategy, rather than on yourself where that blame belongs.

On the flip side, if you have a Winners Attitude, you won’t hesitate. You’ll KNOW what to do in every instance. Day Traders with a Winners’ Mentality also realize that day trading is an ART, NOT a Science. You don’t automatically get output “X” if you input “Y”.

By trading with a Winners’ Mentality, you’ll BELIEVE in your system. And most importantly, you won’t compound losses with losses. You know that trading is inherently risky, and that there exists the potential for real and substantial losses. But with a Winner’s Mentality, you can get past losses, and you can secure strong wins, much more easily than the Defeatists.

The Market presents opportunities to day traders to take advantage of. If you have a “Winner’s Mentality”, then you’ll be much more likely to take advantage of those opportunities and develop into a Market Dominating Day Trader. But if you continue to trade with a defeatists attitude, than your success as a trader has already been determined…and the outlook is grim.

Author: Christopher Call
Article Source: EzineArticles.com
Provided by: Guest blogger

Day trading secrets to successful trading really AREN’T secrets. Research has proven again and again that you can become a successful day trader by following a few key and simple rules – and by getting the right training.

You just need to know where to look to learn day trading. If you want to learn day trading secrets, then you just need to open up your eyes and look around. Here are some day trading secrets that you can’t afford to ignore. These day trading secrets are incredibly important, and is completely lost on most people who learn day trading. So take the time to learn these day trading secrets.

This little day trading secret involves a famous figure who far too many day traders think they are. They imagine that they are this historical figure, and suffer disastrous trading results because of it. The ideals held by this famous historical figure are excellent, and should be shared by all of us. They just have no place in a day trader’s mind.

Or anywhere in their strategy either. In fact, your trading strategy should be completely devoid of this otherwise very excellent personality trait / quality. So with that, let’s get to the heart of the matter, the real reason why you’re reading this article today.

We are all familiar with Neil Armstrong – that, or our elementary school teachers are failing miserably. Just in case you don’t know, Neil Armstrong was the first man to walk on the moon. This was an amazing feat for a fledgling space program, and demonstrated our country’s dominance and superiority over the rival USSR. Neil Armstrong was a dedicated and confident American figure. He was determined, and more importantly, he shot for the moon….and amazingly enough, he hit it!

However, the ideals and character strengths exemplified by Neil Armstrong don’t work for day trading. In fact, they are downright disastrous. This is where you start to see these day trading secrets and to learn day trading. Neil Armstrong shot for the moon, and he made it. Day Traders who shoot for the moon are liable to end up crash landing right after take off.

What do I mean? Simple. As a new trader just getting started, you will often see wild market movement. You will see sudden 5+ point upswings, or huge 8+ point drops. It happens. And some people actually know WHEN it will happen (people like myself).

The temptation is there to shoot for the moon on your day trades. An inexperienced day trader might see the huge profit potential available, and set his sights way too high. They might shoot for instant returns of 30%, 40%, 50% +, calculating glorious riches right around the corner. But here is one key day trading secrets. The market is a cruel instructor. And an expensive one. You might hit lofty profit targets once, even twice. But eventually, “shooting for the moon” will likely catch up with you, and you’ll come crashing back down to reality. How’s that for a day trading secret?

Instead, why not aim lower, set your sights on modest returns, and gradually grow your trading account in a much safer way. In fact, if you shot for a measly little 15% weekly return (which is easily obtainable, if you know EXACTLY when the market is going to move like I do), and you compounded your returns back into your trading contracts, after one year, your trading account would have grown from $1000 to well over $1 million. Of course, it is unrealistic to continue to trade more and more contracts after reaching a certain level. But you get the point of this day trading secret.

One more time, here are your day trading secrets: You’re not Neil Armstrong. You don’t need to shoot for the moon. A 50%+ weekly return, while nice, isn’t necessary for you to be a successful day trader. Learn trading secrets to help you become the day trader that you are capable of. There are tons of resources available for you as you learn how to trade. You just need to be diligent in searching for them. You can find secrets of successful trading if you just set your mind to it.

And remember, you don’t need to hit insanely high profit targets to be a successful day trader. Keep your targets appropriate, and your day trade goals in check. A 10% or 15% weekly return is more than enough to steadily (and safely) grow your trading account. So take heed of this little trading nugget as you learn how to day trade successfully. Your future success as a day trader depends on it!

Author: Christopher Call
Article Source: EzineArticles.com
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