Day Trading Rules for Dummies

When it comes to trading, figuring out what works and what doesn’t can be a costly process. You could buy every day trading course and software that exists, spending hundreds of thousands of dollars, and be left with very few that are worth anything. From our experience, what works best is to focus on price itself. Yes, the main reason why charts exist is to show how price moved over time. By looking at this movement, patterns emerge. What group of candles commonly exists before a trend up or down? What unique candle types often occur before volatility increases? These are questions traders begin to ask themselves as they practice and learn the art of day trading. Stick to specific rules and avoid the “day trading for dummies” approach. You’re smarter than that!

What are the best day trading books? Well, books are often wide in scope. They teach standardized methods. If you could go to your local book store and jot down all of the trading techniques, there would be no reason to buy the book. Book authors probably wouldn’t want to share the techniques that actually work in some $40 or less book. If anything, you’d probably have to pay a few hundred dollars or more to make it worth the trader’s time to teach you anything of value and day trading rules that are specific to what’s going on in today’s markets. This is why day trading courses, such as those involving live training, may work out better for you.

Another problem with generic trading books for dummies is that they often do not consider the learning curve of the trading platform itself. For example, NinjaTrader is not going to be discussed in any useful detail in a dummies trading book. You’re going to need materials that go into depth. Each trading platform is different. On DayTradeToWin’s website, you can find a free Get Started Trading Guide that is written for new traders, or “dummies” as some may consider themselves to be.

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