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Lessons From the History of Day Trading

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Admit it, you’ve thought about trying day trading. Or, perhaps you don’t want to admit that you already have tried it and it didn’t work out so well. Alas, it’s not an easy task to master, and, there are many lessons to be learned... See more » Admit it, you’ve thought about trying day trading. Or, perhaps you don’t want to admit that you already have tried it and it didn’t work out so well. Alas, it’s not an easy task to master, and, there are many lessons to be learned from the history of day trading. Let’s briefly cover a couple of them. Dot-com Disasters In the mid-1990s, the dot-com deals drew in investors by the boatload. With the advent of online trading, many companies launched websites that made day trading accessible to the common person. No longer did you need any special training to get started, you didn’t even have to make an appointment with a stockbroker. Just point and click. And hope you didn’t lose everything. But, chances are, if you were involved, you probably did lose everything. Let’s just say, that was lesson number one. Too Big Too Fast Following the brutal and highly publicized demise of the dot-com industry, side by side with a stock market collapse, day trading again began to slowly gain some ground as a business venture, and by 2000, estimates showed the number of day traders to be around 7,000. The estimated number of people using the Internet for day trading at that time: five million. This entire process had gotten out of control again, and people were losing money left and right. News stories sensationalized the losses, exploiting some who lost everything, including their marbles, and ended up committing heinous crimes. At this time, surveys showed that 70% of day traders failed miserably. Can we agree that this is lesson number two? Searching for Sanity Since the fall of the dot-coms and the restructuring of the day trading industry, online trading is today becoming more popular again. This time around, more people seem to be interested in learning how the market works, accessing the tools and resources available, searching for advice on how to be more successful, and demonstrating more patience and persistence. More people have come to realize that online trading, futures trading, and options trading are ways to invest their money and (hopefully) watch it grow. There are still those people that consider online trading, futures trading, or options trading opportunities to get rich quick, but those people end up getting weeded out because they simply fail at their endeavor. Today’s Top Performers Today’s day trader has very likely taken an online trading course, at the very least. The successful, professional day trader has experience, resources, patience, and training that is relevant to futures trading, options trading, and online trading activity. Research is key, you can’t have too much information when it comes to investing your life savings. Those who do the work will reap the benefits. Those who think this is a way to get rich quick will usually fail to do so. Which one of those people do you want to be? The decision should be very easy to make. Learn some lessons from the history of day trading, and make sure that you do it right the first time! See less »

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From the list : normanoliver1's Wish List by normanoliver1

Following the brutal and highly publicized demise of the dot-com industry, side by side with a stock market collapse, day trading again began to slowly gain some ground as a business venture.

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Lessons From the History of Day Trading

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