Honesty & Transparency
Day trading is really challenging. It is no secret that about 80% of all short term investors use to fail. This means that many people get frustrated and in in the end they tend to blaming the providers. Sometimes when they have made a mistakes, they take the easy way to accuse the brokerage companies, the trading educators or the tools of being guilty. Of course this may be right in some cases, but the main reasons for these mistakes are completely wrong expectations, the wrong preparation or an incorrect execution by the trader himself.
This website is not meant to sell anything. In the contrary, most of the articles that you will find here contain no ads at all. It is my aim to encourage you to be more conservative when you consider day trading as your investment strategy. Here on this website you will find a lot of useful information, like for example detailed reviews and case studies. Right in the beginning I would like to introduce you 3 general rules that you should always pay attention to when you decide to turn day trading into your investment strategy:
About my first trade
I started my career in the financial business in 1999. At the beginning, I started trading the financial markets in addition to my job in financial services. Back then, the online brokerage business was still in its infancy. That's why all these years ago I placed my first buy and sell orders in person inside a bank while I talked with a banker.
When the order was placed, it took some minutes before the order was confirmed. A few days later I received the printed documents for the transaction via regular mail. Can you still imagine this? Or does this sound strange? Yes, it probably does if you compare it with the situation of today. Meanwhile, trading online within the split of a second is the standard procedure. The financial markets still fascinate me in the same way as they did during my first trading days.
I also enjoy always being up-to-date when it comes to developments in the information technology
Automation was my key to success. I started automating my trading processes very early. At the beginning, I mostly worked with MS-Excel while I was analyzing historical price developments and when I was trying to predict the future.
Of course no one can really predict the future. But I was able to work in a comfortable situation with the right mindset. I always looked at everything in a realistic way. This made it easy for me to switch from trying to predict the future to optimizing my trading processes.
This was the time when I started to work with NinjaTrader's trading software. I wrote my own code lines (NinjaScript C#), I created semi-automated and completely automated trading strategies and I really enjoyed the auto execution of my trades.
Buying and selling stocks without the stress of the manual execution of the trade is the very best method of all for day traders. This helps to avoid mistakes being based on a wrong mindset and mistakes that may happen because of fat finger keystrokes.
Isn't it a great feeling just to manage the trades by trading semi-automatically or even to lean back while the computer does the job?
At some point, I went out of ideas for new strategies that I could encode. Candlesticks – o.k. Trading patterns - done. So, what could come next?
During this process of searching for new ways, I heard about Trade-Ideas.com and about their product named Trade Ideas Pro for the very first time
With the help of Trade Ideas Pro, all at once the development of new ideas was not limited anymore.
And even better, the service of Trade Ideas includes the so-called "Trade Ideas Custom Formulas" that give me the opportunity to use simple formulas to create my own personal scans.
By now I already wrote more than 100 custom formulas - for simple stock scans, for layouts and list functionalities and for the unique real-time candlestick scanner.
There is no doubt about it that I really like this trading software. I know, there are a lot of other people who are writing about Trade Ideas, but it is hard to find someone else with almost 10 years of experience with Trade Ideas who doesn't work for Trade Ideas himself.
I think, my Trade Ideas Review is the most detailed and the most honest review that you will find in the web.
Thank you for visiting daytradingz.com
In addition to my career in the financial business, I started with blogging and I found out that I also enjoy it to create websites.
Founder of DAYTRADINGz.com
That's why today you will find everything I wrote so far at DAYTRADINGz.com.
Here you may get valuable information about trading and about general financial topics. For example, my website includes online brokerage reviews, trading educator reviews and trading tool reviews. Here you will find the latest reviews.
All of them are written from a beginner's perspective instead of using the pure technical jargon that only experts may understand completely.
I think, this offers really useful information that everybody will understand all easily.