So you want to be a day trader. Honestly, there is no better way to become your own boss and gain financial freedom. If you have the desire, dedication and discipline the sky is the limit for your profits. But how do you get started? Get into a free chat room.
When you spend time in a free chat room, you can start to understand how to get better at day trading right away. You will learn new lingo, make new friends and watch veteran traders in action. That is, you can can see them call out positions and work their way towards good and bad trades and see their reports after all the trades go down.
A free chat room can be an excellent intro into day trading education. Spending time in one will hip you to a very important lesson: There are only a few stocks worth trading on any given trading day. It is very hard to find those stocks. Many big trading firms use big, expensive propriatry software systems to trade. Those powerful algorithms make it hard to beat them.
So the key is to try not to beat them. The key is finding another way. Finding a needle in a haystack by diving around and nosing around is not advisable. So you need the right strategies to see the potential needles. Spending time learning from other day traders is a great way to start to get those techniques down.
But not all free chat rooms are created equal. You want to find one where an accomplished trader is livestreaming the desktop and talking through real-time trades. That is a great way to learn. Day trading is unpredictable, so it helps to be able to see people do it in real time. Having a portion of the chat room screen dedicated to streaming news, stocks to watch and trade alerts is a great feature as well. It allows you to maximize monitor space.
Actionable breaking news headlines are very important in a chat room as well. If a chat room is not providing you will news nuggets that help you make trades, it is not worth your time to be in there. Breaking news is a very big part of taking advantage of the fluctuations in the day trading market.
Then you need to make sure there is a discussion space where you can ask questions and interact with other traders. That is the only way to get better and learn. You need to be able to converse with other traders and get plenty of information out of them.
Spending time in a free chat room is a perfect way to determine if you like trading in that particular community. As with any industry, it helps to find your tribe. The quality of your days is determined by the people that you hang out with. It makes sense to test out these groups before you commit time to working within them.