Since Ive been getting a lot of requests on learning to day trade Ive set up this page to lay out all of the tools and resources that I have used to become a successful day trader. I will keep adding resoucces to this page over time so keep checking back.

Audio Books

The first place you should start is by educating yourself. A great book that is a MUST listen to is How to day trade for a living, by Andrew Aziz. This book explains the business of day trading, and how when you trade you basically become a portfolio manager. If you do not have an audible account you can sign up for free for 30 days then cancel. You get to keep the book for free.

Mastering your own negative thoughts is the most important factor in trading. A good book to listen to is Trading for a living. This book goes over the pshchological factors traders have to cope with.

Another good book is the Risk of Trading.

And of course the classic book that all traders should listen to is trading in the Zone by Mark Douglas. Cant find the link on audible. But this is a MUST read/listen to.

The Value of Stocktwits as a Trading Tool

When browising the stocktwits site you come across a wide range of traders. One man is not an island. Having a team around you when you day trade is critically important component to any successful trader.

 

In a reverse merger, a private company merges with a publicly listed company, which has no assets or liabilities and is in good standing with its required filings to the SEC. The publicly traded corporation is called a “Blank Check” since all that exists of the original company are its corporate shell structure and shareholder base. By merging into such an entity, a private company becomes public and/or a subsidiary of the public company.

Some free advice regarding penny stocks and listening to "pickers":

In general, these people are not professional traders, and if they tell you this is what they do for a living, it is because they are unemployed! It is much easier to go out and get a $50k job, then to try to make $10k in profits trading stocks.

Penny stocks are dangerous. You really need to be careful, as you can lose a ton of money fast. Here are some things to think about:

1. Penny stocks are speculative - This means their operations are most likely not going to turn a profit. On the big exchanges, stocks will go up based on their financial results. The financial results of almost all penny stocks are not going to be good, which will only drive the stock down. This is why it is dangerous to hold a penny stock, because their results are not going to move the stock.

Some free advice regarding penny stocks and listening to "pickers":

In general, these people are not professional traders, and if they tell you this is what they do for a living, it is because they are unemployed! It is much easier to go out and get a $50k job, then to try to make $10k in profits trading stocks.

Penny stocks are dangerous. You really need to be careful, as you can lose a ton of money fast. Here are some things to think about:

1. Penny stocks are speculative - This means their operations are most likely not going to turn a profit. On the big exchanges, stocks will go up based on their financial results. The financial results of almost all penny stocks are not going to be good, which will only drive the stock down. This is why it is dangerous to hold a penny stock, because their results are not going to move the stock.

Definitions For The Fifth Letter Of Stock Symbols

Have you ever wondered what that fifth letter at the end of the stock symbol is? It signifies that the issuer may have additional circumstances involved with the stock. Most recognizable is the infamous "E".

Complete "Letter" list enclosed below. You may want to print it out for your own reference.

The Eligibility Rule protects investors by ensuring that they have access to companies current financial information when considering investments in OTCBB-eligible securities.

Etrade Pro Aggressive Scanner Settings

Under Strategy Filters Tab:

Min Price: .0009

Max Price: 0.1

Min. Volume Today: 500000 Shares


Under Strategy Alerts Tab:

Dark Side of the Trade

The information you are about to read is from my many failed trades with a small trading account.
We all study charting and the art of entering a trade. Watching for the indicators: volume, momentum, support and resistance, higher highs, higher lows, previous long term resistance, which I call the historical's, upward trend and downward trend, promotions, promoters, market makers (mm), and dilution.
I want to quickly go over those before I talk about what I call the dark side of the trade.
Volume, is being sure that there are enough trades going through to allow liquidity and easy access into and out of the trade. It is tied to momentum and dilution in many trades.