| Trading Tutor | ||
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Providing Resources and Training for Active Daytraders | |
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Our mission is to help novice traders become shrewd traders. We offer support and information resources to bring you from where you are to a point of being profitable. It seems to me there is a convergence of trends occurring in our world that has had the net effect of producing a number of people who want to trade equities for a living along with new resources, technologies and services that enable that type of arrangement as never before. I've listed a few of the major factors below that impact these trends. New technology exists that can now be utilized by sophisticated smaller independent investor/traders in a way previously available only to a small group of people. I believe that this trend represents an almost populist market environment in which individuals can use assets as a source of part-time or full-time employment. It's inside of this environment that I see a huge need for help for newbies. To hear me describe these conditions one could draw the conclusion that this sounds pretty good to them. Think about it, you get to be home all day, if you want to (or you can go to a "S.O.E.S room"). Your "work" mostly involves following your trades from time to time at a computer. You're home for the kids (if any). You don't drive so you don't pollute. You don't drive as much so you save on gas, insurance, wear and tear etc. Not bad eh? To be perfectly candid with you though, all of new (1-12 months) traders I've met loose money. Ya that's right. Some of them lot's of money. That's the problem with this whole scenario. It's not as easy as it looks. From bad vendors with inoperable systems to poor or no discernable decision support from the trader I've been witness to many a pitiful situation, both in my own account and those of the others I know. Potential problems for newbie traders starting up can be defined in separate categories as listed below. I. Brokerage Firm. The firm you choose to place your account at for trading is a very important decision. Some of these broker's so called internet trading systems simply do not work for quality executions. II. Computer systems. The type of software and hardware you use can make a big difference. You can get by with less cost and horsepower than you might think if it's set up properly. III. Telephone company connection. ISDN or 56k? Some phone companies aren't yet up to speed completely on the very services they provide. It took my phone company one and a half days to fix the last problem that came up. IV. Decision support. What type of trader do you want to be? Are you a scalper? Better watch out, between commissions and loosing trades you could loose all your money faster than you realize. Are you a position trader? That might be a better idea, but how do decide when to buy and sell? Magic or voodoo? I know it sounds facetious but you would not believe some of the criteria I have discovered people making trades on. We offer instruction and resources for trading based on decision support derived from technical analysis or charting. I'm one of the few people I know of that survived the start up process intact with enough account value or buying power left to be viable. I know there are more people like me with common or uncommon experiences to share for the benefit of other newbies. The very fact that I have been able to progress from an admittedly dazed and confused state to one somewhat resembling proficiency is I think significant and encourages me to offer what I can in the way of resources and assistance to others. I made it but no one should have to go through what I did to succeed. | |
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