Day Trading Tips and Tricks

November 13, 2019

Erich Senft

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Trade Service vs. Trading System

Is a Trade Service the Path to Profitably without Learning a Trading System?

There are two opposing ways to become an effective day trader that has the potential to generate more profits than losses. The first one involves significant trading instruction, and “chart time” that might also include books, webinars, seminars, mentoring and online courses.

A trading service is an alternative method of trading that does not involve learning any particular day trading strategy or using a day trading system.

While both methods can prove to be highly efficient, choosing one over the other is up to you.

Day Trading Instruction

The following list outlines the traditional ways of learning how to day trade efficiently and profitably. Each type of trading instruction has its strengths and weaknesses. From the list below, there is some trading system that will work well for every kind of student. They include:

  • Trade Service vs. Trading SystemTrading Books – Learning trading through quality trading books is by far the most popular way to learn about and understand day trading strategies and systems. Considered a low-cost method to learn trading, a novice, or average trader can easily spend the same amount of money on trading books as the total cost of an expensive seminar.
  • Online Trading Courses – As a convenient way to learn to trade, online courses can be taken any time of the day or night, at your pace. They are ideal for any individual that suffers from time constraints.
  • Day Trading Seminars – Usually considered a costly way to learn trading instruction, many are probably worth their cost. It is best to seek out quality seminars and webinars that are taught by professional instructor traders.
  • Day Trading Instruction and Mentoring – This path to learning is without a doubt the most efficient way to succeed in day trading. Following the guidance of a competent mentor can help to quickly develop confidence in making solid day trades and using day trading strategies and software.

Trade Service

An alternative path for trading for profit does not involve learning any day trading strategy or developing any day trading system. Using a trade service enables a less experienced trader to take advantage of a seasoned trader with proven a proven success record. A high-end trade service might also include other services where an investor (non-trader) could also have their investment funds traded for them, by a professional.

A trading service requires you to be comfortable with other people trading with your money.  Such a service can be very beneficial for people who do not have the time or desire to be independent, self-directed retail traders.

November 13, 2019

Erich Senft

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