Study Guide for Come Into My Trading Room - Forex Factory

DAY-TRADING
S I X
Day-trading is much harder than most people think. Beginners stumbling
into this field usually get the same financial result as from playing threecard
monte on the street. The cards get shuffled a little too fast, the
expense of getting in and out is a little too high, the player’s attention
flags just a little, and soon another day-trading wannabe bites the dust.
Day-trading demands instant reactions and the highest degree of discipline,
but, paradoxically, tends to attract the most impulsive and hyperactive
people. It demands a total concentration on short-term swings,
and most people simply cannot focus their attention long enough.
Still, day-trading has its uses, even for longer-term traders. If you know
how to day-trade, you can use those techniques to slide into and out of
your positions. Once you do that, turn off your real-time screen and focus
on longer-term charts. Be sure to keep the two types of trading apart—do
not convert position trades into day-trades and vice versa.
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