A beginner usually feels very attracted to the stock market while for example discovering a stock thats being reported in CNBC or the news program and watching it rise fast and make new highs from $10 to $35 in just 2 months. While learning about this successful news story hes saying to himself "Oh boy if I was one of those lucky guys who bought that stock back when it was priced at $10 I easily would have tripled my money by now... That means my 20 grand would transformed in to a whooping 70 K! hassle free I would have been able to grab one of those big HUMMERs on the spot and probably pick up a nice Rolex by the way!" The stock market news constantly reports of hot stocks that are breaking out and making tremendous gains on the same day or doubling in price in just a few hours. Back in the bull market of the late 90s you could easily see a good number of hot stocks sprouting out every week. Those years surely made it look like every body could easily take LONG SHOTS and make a shiny pile of gold every day in the stock market. But todays market is a different story. A totally different animal. Some say that the stock market has gotten more realistic. Fantasy land is over and GAMBLING YOUR WAY TO RICHES is not an option anymore. You might get lucky a few times, but your constant loses can wipe you out sooner or later. The fact that the bull market period has ended for now doesnt mean that you cant make a great deal of money in todays market. A lot folks from many walks of life keep making excellent profits on a daily basis, pocketing hundreds & thousands of dollars by trading stocks online. Success in day trading starts by applying a wiser and REALISTIC methodology for choosing hot stocks as well as for getting in and out of them with profits in mind. You need to look at the stock market more realistically. You got to learn that you can benefit when stocks go up and also when they FALL down. You got to WORK SMARTER and get more selective about the hot stock trading opportunities that you choose. You need to embrace the nature of day trading and be fully prepared to take advantage of stocks that are poised for a BIG RISE on the same day. The bottom line is you have to PREPARE YOUR SELF to be successful, just like you would do it in other areas of your life in order to achieve success |
