Saturday, November 14, 2009
TEN REASONS WHY DAY TRADING
Day Trading
In my opinion, it’s the perfect way to become wealthy. Here are ten reasons
why:
1.) It’s the total “equal opportunity” job
Your race doesn’t matter. Your skin color doesn’t matter.
Your education doesn’t matter, whether you’re a Ph.D. or a
college drop-out. Your sex doesn’t matter. Your origin
doesn’t matter. Your age doesn’t matter. Your background
and history don’t matter. Even if you’ve been in jail for
years, you could still make money with trading. Your language
doesn’t matter. Your looks don’t matter. And your social
status doesn’t matter, as long as you have sufficient
funds to trade.
2.) No employees to hire
You don’t have to hire any employees, which means you
don’t have to worry about job interviews, payroll, employee
evaluations, holidays, sick days, or employee performance.
Your only “team member” is your broker, and if he doesn’t
perform, there are 10 others waiting in line for your business.
3.) No inventory, office space, or other equipment (besides
your phone and your computer)
You don’t have to buy or rent expensive office space, and
you don’t have to stock any products, which means you
don’t have to worry about expiration dates, damaged goods,
shipping, handling, insurance, or displays and promotions of
goods.
4.) No vendors, no customers, no invoices, and no accounts
receivable
You won’t have to deal with any face-to-face contact. You
don’t need any vendors, you don’t need to satisfy any customers, you don’t need to provide any customer support, and
you don’t need to worry about any invoices, bounced checks,
fraudulent credit card charges, returns, or charge-backs.
5.) The time required is minimal
Whether you have a regular job or run your own business,
the chances are that you’re working at least 40 hours per
week. With day trading, you can trade either part-time or
full-time. You can start trading for as little as one hour per
week, or you can go for the maximum of 2 hours per day.
It’s your choice.
6.) Low capital requirement
You don’t need a lot of money to get started. This is not like
buying property, for example, where you’re on the hook for
a monthly mortgage and other cash-draining expenses.
7.) Returns are almost instantaneous
I'm talking "fast cash" in the sense that trading allows for
quick liquidation. You can convert trades for cash within
seconds. Where else in the world can you make money this
fast and comfortably? You can buy and sell and buy again in
minutes. You don’t have to wait to see your profits. Try this
with real estate or physical goods, where you might have to
wait weeks, or even months.
8.) Low transaction cost
You pay less transaction in trading. Compare
that to real estate transactions, in which you have to pay several
thousand of bugs in closing costs, not to mention a 3-6%
commission to your realtor.
9.) It's simple to learn how to make money with day trading
You don’t have to go to college for years. And unlike most
other professions, years of experience are not necessary either.
After teaching hundreds of people how to make money
with day trading, I firmly believe that everybody can learn
how to become a successful trader.
10.) You don’t need much to get started
In fact, there are only six things that you DO need:
a.) A computer
b.) An Internet connection
c.) A charting software
d.) A broker
e.) A properly funded trading account
f.) A good trading strategy
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