Advantages of Day Trading
If you ask most people what the biggest advantages of day trading are, what do you think they would say?
Most people would probably cite the schedule freedom and the money you can make, but the fact is, there are SO many more incredible things that day trading can offer. And if you want a visual explanation, check out how I made $2,500 yesterday WHILE RIDING THE TRAIN! And if you watch this video, you’ll see many more of my trading challenge students did even better:
Here are 8 more advantages of day trading that are worth knowing about.
1. Easy to get started. One of the biggest advantages of day trading? It’s incredibly easy to get started. If you’re trading penny stocks, you don’t need to be a licensed trader, nor do you need to receive a certificate or complete a course. As long as you have a laptop and an internet connection, you can become a trader literally minutes after you have the initial desire hits.
Unfortunately, this can be a double-edged sword. While it’s easy to get started as a trader, many do it with not enough information and that’s why 90% of traders lose. It’s a smart idea to get educated on trading before you start, start with this free penny stock guide, it’ll help you prepare nicely.
Download a PDF version of this post as PDF.
And while you won’t receive a diploma, you will be investing in your future so you MUST take it seriously. After all, it’s your money that you’re trading, and knowing more about the system will help ensure that you’re not throwing it away…it’s the lack of preparation that makes so many people lose so don’t make that classic mistake and study up! This new stock trading book is a must read too as part of your education.
2. Free resources. If you want to get started as a day trader, you’re living a very fortunate time. Even a few years ago, it was very difficult to figure out how to get started or how penny stocks even worked. Thanks in part to my efforts, there are now a lot more free resources online.
For starters, my free e-guide to penny stocks is an invaluable resource that every budding trader should read, bookmark, and re-read. Traders give tutorials online and on their blogs. It’s a great time to learn from the best.
3. My Millionaire Challenge. The Tim Sykes Millionaire Challenge is one of the most important things I have ever done in business. While I offer plenty of free information on my site, there’s also a more in-depth program that students can choose to follow.
In the challenge, I act as mentor and teacher to my students. As my student, I offer you an on-the-level education about how to really trade penny stocks for success. Yes, the basics are covered, but we go so much deeper than that. You’ll learn how to identify and predict patterns, and you’ll learn how to make sense of market trends. You’ll ultimately be guided to be able to make your own intelligent trading decisions so that you’ll be set up for a lifetime of trading success.
4. You’re in control of your destiny. Undoubtedly, one of the greatest advantages of day trading is that you are in control of creating your own success.
Will you make millions in the market? That’s up to you to decide as all of my millionaire trading challenge students have worked their butts off studying, their success is NOT due to luck. If you really want to become a millionaire, it is possible. It’s not easy, though.
You’ll need to work harder than you ever have before. You’ll need to constantly challenge and humble yourself by learning, re-learning, and revising your methods. Don’t get me wrong, all of this can be extremely difficult. But it’s available to any and everyone. If you choose to become a successful trader and are willing to put in that level of work, you absolutely can make it happen.
5. Self starters are rewarded. While it may seem quite backwards, it’s sadly true: self starters are rarely rewarded in the traditional workplace. A higher up will take credit, or the best you can hope for is a positive annual review and maybe a small pay bump.
However, one of the great advantages of day trading is that you’ll be rewarded a lot, and quite quickly, for being a self starter.
If you are able to motivate yourself by setting goals and doing the work necessary to earn your trading chops, you will begin to make money and find success. Not only that but you’ll start creating predicable trading patterns to reliably make money.
6. There is a clear path toward success. You’ve probably already gathered this fact from the other advantages of day trading already listed. But to make it crystal clear: one of the best things about day trading is that there is a clear-cut path toward success. More than ever, in this day and age, success is yours for the taking. It’s less a matter of whether or not it’s possible, and more of a matter of whether or not you’re willing to take advantage.
One of the nice things about day trading is that it has already proven a successful path. You can look at the success stories from the Tim Sykes Million Challenge Team as well as my own story of success. As a new trader, you already have a lot of the work done for you; it’s a matter of finding your own way on this path.
7. You can make a lot of money fast. This is why you’re really here, isn’t it? The fact is, day trading is a lot more attractive to a lot of people because unlike long term investment, it allows you to make money fast.
Truthfully, day trading does come with a lot more risk than long term investment. But with risk comes great potential reward. If you really want to make some serious income in a short period of time, day trading is absolutely the path you want to take. An educated and knowledgable day trader is an unstoppable money making force.
8. It’s exciting. There’s a lot of focus put on making money as a day trader. And yes, truthfully, that’s probably why you got into the whole enterprise, right? But the lure of money isn’t what keeps people in the game for the long run. What really will do that is the thrill of the chase.
The rush that you get when you make a great trade is like few things in life. It’s an addictive (and non-lethal) high. Traders get intoxicated with it, and this is how they build a deep passion for the process.
Making money will only motivate you for so long, but if you stay committed to your goals and remain passionate about the process and continually challenge yourself like I teach people in my trading challenge to do, you’ll have a job for life…and it’ll be one you enjoy immensely…especially if you master it as the financial rewards are incredible.
Do you want to attain financial independence and become rich? If so, day trading can take you where you want to go. By approaching day trading in the right way (i.e., attaining education and looking before you leap), this can truly be the career of a lifetime…or if you approach it the wrong way, as most people do, it’ll just be another failed pursuit/hobby…so do NOT make the mistake that most do and take this topic too lightly…this is a SERIOUS challenge and you must do all that you can to prepare for battle!
Are you ready to become a day trader? Leave a comment ONLY if you promise to be a dedicated student, NO LAZY PEOPLE ALLOWED!