Saturday, March 2, 2013

Intro and Disclaimer

There are lots of misconceptions about Day Trading (it’s gambling, it’s risky, it’s dangerous, you can’t make a living doing it, charts don’t work, stocks move randomly, no one can beat the market, it's just a way for brokers to make money on commissions, etc.). There are truths to all of these misconceptions, and I had these very same misconceptions, before I became a Day Trader. So they're not unwarranted, because most people who say or think they're Day Trading, really aren't practicing the profession. So these people perpetuate the misconceptions about Day Trading.

Originally, I had wanted to call this blog Naked Day Trader, but after doing some Google searches, I discovered that there is someone in the UK who calls himself the Naked Trader. (Of course there is!) The reason I wanted to call this blog Naked Day Trader is because the idea behind this blog and the corresponding YouTube channel is to reveal to you as much as I possibly can about the experiences I’ve gone through as a Day Trader—good and bad.

There are lots of videos out there about charts and set ups and things like that. Those things are all important and I will do some of that on this blog, but my focus will be about the things that don’t get talked about nearly as much, but are actually more critical to a trader’s success. Thing such as the process of putting together a trading plan, having the proper mind set and psychology, how to prepare for the trading day, what to do after the trading day, etc. These things are actually things you don’t know about until you actually do become a more seasoned day trader, because they fall into the category of “things you don’t know you don’t know”. In short, my goal with this channel is to reveal the ins and outs of being a day trader and, hopefully, break down some of the misconceptions. This is an inside look at Day Trading from the perspective of a Day Trader.

DISCLAIMER: All content provided here or elsewhere on this site is used solely for informational purposes and should not be construed to contain investment advice. None of the information constitutes a recommendation to buy or sell a security. Trading stocks, futures, forex and options does involve risk, so caution must always be utilized. I cannot guarantee profits or freedom from loss. You assume the entire cost and risk of any trading you choose to undertake. You are solely responsible for making your own investment decisions. No stock, forex futures, or options system can guarantee profits. The risk of loss exists in stock, futures, and options trading. I'm just some dude who day trades for a living with my own money. I'm not registered as a securities broker-dealer or investment advisor. Please don't ask me for investment advice or stock tips. Any consequences resulting from your participation in the securities markets are your sole responsibility. In short, you are responsible for your own actions!