Day Trading is Like Guerrilla Warfare

There are only two kinds of day traders: the quick and the dead. Day trading is like guerrilla warfare. The quick, seize opportunities immediately, move their stops to break even as soon as possible and capture as much money as is possible in the shortest amount of time. Often they are scalpers in for a quick kill, then out with the money!

The dead are never quite sure when and how to enter a market or where to get out. These dead turn into "Three Month Wonders," because after three months, successful traders wonder where they are. So do their brokers. I have spoken with brokers who have never had a day trading customer who was actually a winner. There are three kinds of trader with relationships to markets: those who know what is going on and take action, those who know what is going on and do nothing, and those who don't know what is going on and can do nothing. These last ones are suffering from an inability to pull the trigger on their trading rifle. Sadly, that includes far more aspiring traders than you would care to imagine. These people have been badly burned, burned too often, or both, so that when they finally do know what to do they are unable to execute.

Generally, this inability to act stems from the person not willing to risk the pain any longer. The dread of pain for them is stronger than the hope of winning. In many cases, due to consistent trading losses, they have inculcated into their psyche the notion that they are losers. Once a person accepts the idea that he/she is a loser, it is extremely difficult to bring that person back to the idea that they can win. Hope has been lost to the extent that they begin to look for a miracle way to trade. Any confidence in themselves is gone.

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Master Trader Joe Ross wants you to learn trading and he created products to do just that, teach you how to trade. Go to our website to find which ones best fit your trading style. Check out "Our Philosophy".