First Steps to Becoming a Day Trader: Getting Software & Live Data
Do you expect to wake up one day and be a professional trader? Or do you have to practice at it? For most people, practice is necessary. And you have to practice correctly. Practicing correctly involves replicating a real-money trading environment. And what professional trading software or platform easily allows for such an experience? NinjaTrader 8.
With NinjaTrader 8, you can plug in a real-time data feed for futures markets. This means that your charts will be powered by real-time streaming quotes. Using the chart itself or another window called a SuperDOM, you can place trades. All of these trades are recorded in the Sim101 account. This is not an external account with a broker, like a real-money account would be. Rather, the Sim101 is like a database of your trades that is saved on your computer. After practicing, you can generate a performance report to measure your success for a given time period. Such a tool is invaluable, because ultimately, don’t you want to know if what you’re doing is successful?
DayTradeToWin is at the forefront of teaching people how to day trade. They have been helping people learn price action trading methods since 2009. All of the day trading courses and software DayTradeToWin provides, including the ATO 2, Blueprint, Trade Scalper, Accelerated Mentorship, and Atlas Line, are entirely compatible with the free NinjaTrader practice account. The idea is to practice real-time paper/sim trading until you feel comfortable, monitor performance, and then open a live, funded account. Remember, the DayTradeToWin systems do not trade for you. Rather, they require that you place each trade. The rules are clearly explained, so you’re entirely in control with an understanding of what to do.
Again the Free Members area consolidates many of the essential how-to trading videos, so you should have a healthy starting point. Once you understand how to use the trading platform and place trades, the next thing is to answer, “How can I consistently find success?” DayTradeToWin’s goal is to deliver on that quest by providing many price action trading methods.