I figured, since I am the (self-proclaimed) Chart Shark, I should probably give some basic idea of how to read stock charts. I wrote a post a while ago that was pretty much a joke regarding the subject, but sometimes I forget that people are looking for real information.
3 Types of Stock Charts
There are 3 main types of stock charts that you’ll find. Lines charts, bar charts, and candlestick charts. The first I want to cover is the line chart. This chart is almost completely useless as a day trading chart. If you watch it during the trading day, it [...]
From the monthly archives:
March 2010
There are so many secrets to day trading, it’s hard to keep track of them all. Lucky for you, I’ve honed these down into the top 4 day trading secrets.
Secret #4 – What You Do When the Market is Closed Matters Most
Sure, it’s great to be able to interpret data at lightning speeds, spot valid trades within seconds, and execute them flawlessly, but without proper preparation, you will never find those opportunities. Proper preparation includes spending up to an hour before the market opens sifting through market scanners, reading news feeds, and watching pre-market trading. It also includes some time [...]
Last time, I talked about my goal to day trade for a living; now let’s talk about what might really be required of someone who is day trading for a living.
First of all you need capital. You can paper trade all day, but unless you’ve actually got money invested in the market, you can’t very well make a living at it can you? If you’re day trading for a living, you’re going to be buying and selling stocks all day, and this is going to require quite a bit of capital. If you’re day trading full-time you’re going to be [...]
My ultimate goal is to be day trading for a living. Some of you are aware that I am not a full-time trader, but I trade pretty regularly, and I do research almost daily whether or not I trade. I used to even engage in the social aspects of trading, like chat rooms, forums, and Stocktwits, but I stopped all of that social stuff to focus on things that would allow me to focus on that ultimate goal of day trading for a living.
Late last year, a series of occurrences in my life caused me to revaluate what I was [...]
