Day Trading Tips and Tricks

November 3, 2018

Erich Senft

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Learn Trading or Have Someone Do It for You

D.I.Y (Do It Yourself) vs. M.O.D.I.F.Y (Make Others Do It For You)

Learn Trading for YourselfOne of the blessings or curses, depending on your point of view, of our modern world is that we have plenty of choices for just about anything – coffee, headache medicine, TV Shows. In fact, other than American politics, we have a variety of options for just about everything. Trading is no exception.

I think of trading like yard work.  Some are happy to let some other person or company take care of their grounds keeping. It does not bother them if the work is sub-par, as long as it gets done. For others, spending time tending to and improving their garden or lawn is a labor of love.

100% Outsourced

Use a Professional Trade Analysis Service, so you don’t have to Learn Trading Skills. There are endless varieties of tools to help you learn to trade including seminars, books, online courses and one-on-one instruction and coaching. However, none of these trading tools offer any guarantee to transform a dedicated student into a successful trader. Often the information and instructions are not complete, and the student is left wondering why they cannot produce optimal results from their trades. However, there are ways to trade in the market that does not require any trading instruction at all. By using analysis or trading services, you can participate in the market by using the knowledge provided by others.

Get Others to do the Heavy Lifting

Learn trading or use a trade analysis serviceDon’t want to learn to trade?

Consider a technical analysis serviceUsing the information submitted by a
professional trade analysis service is one way a trader can make trading decisions based on a professional’s analysis. The trader will receive a daily report on their particular market that might involve the currency, stock, or commodity futures markets. The report is usually delivered at the start of every trading day (usually before the market has opened).

The analysis is typically provided in a variety of formats from charts, newsletters, videos or graphs. Unlike market commentary, a professional analyst will produce work that includes trade picks or trading recommendations including specific entry and exit points, rather than merely commenting on the condition of the market or particular stock or future.

Continuing Education and Enrichment

As an alternative to market analysis, many professionals offer access to their live trading rooms where they make suggestions on specific trades in real-time all throughout the trading day. Professional live trading services are provided for a particular market or a group, and the recommendations are given real-time as the event is happening.

Some of the trading services are delivered using text messaging, live video or other instant media. Sometimes it is done verbally or just by sending charts. Other times the day trader can interact directly with the professional trader to ask pertinent questions or gather additional information about the trade. Usually, the professional provides all the detailed information on the trade entry, exit, and management (if applicable).

Typically, analyst and trading services provided by professionals are usually designed for traders that do not have the time or skills necessary to generate the same data, or have no desire or time to learn to trade for themselves. Without extensive trading experience, these vital services act as a valuable tool until the individual can learn how to do it on their own. Each professional offering an analysis or trading service needs to be evaluated on their own. 

DIY Trading

Learn Trading for moneyBeing that Indicator Warehouse’s primary software and services offered are geared for people who want to be independent, self-directed day traders, you may be wondering about the do-it-yourself approach to trading.  That topic is thoroughly covered in just about every other blog post on this site.  🙂 

 

November 3, 2018

Erich Senft

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