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Day Trading Basics - Information for Beginning Day Traders

If you have just started day trading, or are thinking of becoming a day trader, the following articles will provide the basic information that you need to get started. Topics such as an introduction to day trading, the markets that can be day traded, and explanations of the tools that you will need, are all covered in detail, and will provide a good understanding of the basics. With this solid foundation, you will be able to progress to day trading's more advanced topics with confidence.
  1. Day Trading Charts (75)
  2. Day Trading Tools (7)
  3. Learning Day Trading (11)
  4. Stop Losses (4)
  5. Useful Day Trading Articles (6)

What is Day Trading?
Explanation of what day trading actually is, and how it relates to other styles of trading. Includes some of the differences between day trading styles, types of trade, and day traders' personalities.

What Makes a Good Stock Pick?
Learn the essentials of making good stock picks. Successful day traders use these simple screening tips to find stocks best suited to their trading strategies.

Avoiding Trading Noise
Learn how to identify and differentiate trading noise from real moves in the market and avoid the whipsaw losses associated with overtrading an account.

Trade Day Dynamics
Understanding the unique dynamics of the U.S. equity market trading session is critical to trading success, no matter what you trade.

Focus On Winners - Not Losers
Learn the secret to overcoming the fear of trading losses and becoming a profitable trader by focusing on properly managing your winning trades.

How To Trade Key Levels

Creating The Perfect Trading Plan – Part 1
Part 1 of the series on how to create the perfect trading plan. Overview of how to create the perfect trading plan that will enable you to be successful day trading the markets.

What Are The Best Hours To Trade Forex?
Learn the best hours to trade the forex markets and when they should be avoided because of a lack of volume, liquidity and volatility.

Creating The Perfect Trading Plan - Part 2
Part 2 of the series on how to create the perfect trading plan. The first step in creating a good trading plan starts with the investigation process to determine if trading makes sense for you.

Creating The Perfect Trading Plan - Part 3
Part 3 of series on how to create the perfect trading plan. Details the key areas to focus on when investigating day trading as a profession during the trading plan creation process.

Creating The Perfect Trading Plan - Part 4
Part 4 of series on how to create the perfect trading plan. The application stage of the plan creation process is where we begin to apply and practice what we've learned before trading live.

Creating The Perfect Trading Plan - Part 5
Part 5 of series on how to create the perfect trading plan. The rules creation stage of the plan creation process is where we begin to create and test our account management and trade management rules governing our actions and decisions.

Creating The Perfect Trading Plan - Part 6
Part 6 of series on how to create the perfect trading plan. We examine the more critical account management rules that should be created and tested during the rules creation stage.

Trust Your Trading Plan
The key to success in trading is to trust your trading plan and focus on managing winning trades versus trading scared and focusing on the downside.

Creating The Perfect Trading Plan - Part 7
Part 7 of series on how to create the perfect trading plan. We examine the more critical trade management rules that should be created and tested during the rules creation stage.

Creating The Perfect Trading Plan - Part 8
Part 8 of series on how to create the perfect trading plan. Stage 4 of the trading plan creation process is implementing your plan and monitoring your daily activity to ensure you're adhering to the plan.

Which Markets can be Day Traded?
Introduction to the markets that are available to day traders, including some popular futures, options, currencies, and stock markets.

Trading Stock Indexes
Discussion of trading stock indexes using futures and options markets, including charting the stock indexes while trading the futures and options markets.

Choosing a Trading Style
Discussion of different trading styles, and suggestions for finding the trading style that best suits your personality.

Discretionary or System Trading
Descriptions of discretionary trading and system trading, with suggestions for choosing the correct type of trading for your personality, and examples of each type of trading.

Fundamental or Technical Analysis?
Discussion of the differences between fundamental analysis and technical analysis, and which type is better suited for day trading.

Introduction to Scalping
Description of the trading style known as scalping, with examples of the type of trades that a scalper would make.

The Best and Worst Ways to Learn Trading
Descriptions of the most popular methods of trading instruction, with my recommendations for which ways are the most effective, and my suggestion for an alternative to learning trading.

Learning Trading - How To Become a Professional Trader
Suggestions for the most efficient method of learning about trading and becoming a professional trader.

The Holy Grail of Trading
The holy grail of trading is revealed, including a description of the holy grail, and suggestions for using the holy grail in your trading.

Trading Systems or Trading Gimmicks
Discussion of trading systems and trading gimmicks, with examples of the type of so called trading systems that should be avoided.

Trading Using Leverage
Discussion of trading using leverage (margin), and whether leverage is an efficient use of trading capital, or a quick way to lose a lot of money.

Leverage is Good, and More Leverage is Very Good
Discussion of how leverage affects the potential profit and loss of a trade, and why professional traders always trade using the highest leverage possible.

Trading a New Account
Discussion of the psychology of trading a new trading account, with advice for minimising the effect of the emotions that arise when trading a new trading account.

Day Trading Tools
List of the tools needed for day trading, with minimum specifications and recommendations. Includes discussions of day trading computers, Internet access, brokerages, trading and charting software, and market data.

Day Trading Charts - Bar, Candlestick, and Line Charts
Descriptions of bar, candlestick, and line charts, with the trading information that they represent, and instructions for reading and interpreting them during trading.

Understanding RSI
Learn how RSI can be used to measure the presence and strength of momentum in a trading instrument. It can be used to trigger trades as well.

Choosing the Best Chart Time Frame
Discussion of chart time frames, with an explanation of how to choose the best chart time frame for your trading system and trading style.

How To Identify Highs and Lows on a Graphical Chart
Explanation of how to identify highs and lows of individual bars and candlesticks and of an entire graphical trading chart.

Time and Sales
Description of the time and sales (or tape), with an explanation of the trading information that each element of the time and sales represents.

Day Trading Market Data
Description of day trading market data, and the trading information that market data provides. Includes profiles of the most popular market data feeds, with the markets that they offer, their monthly fees, and their software and programming interfaces.

The Bid, Ask, and Last
Definition of the market prices known as the bid price, the ask price, and the last price, with an explanation of how these prices affect day trading.

Buying and Selling Volume
Description of buying and selling volume, including how each type of volume affects the current market price.

How Market Prices Move
Explanation of how buying and selling moves market prices, with reference to individual trades and how they are displayed on the time and sales.

Day Trading Order Types
Description of the day trading order types that are combined to make a complete trade. Includes market, limit, stop, stop limit, market if touched, and limit if touched orders.

Stop or If Touched Orders
Explanation of the differences between stop orders and if touched orders, with examples of how using the wrong type of order can greatly affect your trading.

Stock Index Calculation
Discussion of stock index calculation, and explanation of why knowing how a stock index is calculated can be bebeficial to your trading.

Trade Entries - Market or Limit?
Explanation of the differences between market and limit orders when they are used for trade entries.

Points and Ticks
Explanation of the difference between points and ticks, and which one (points or ticks) is correct for which markets.

Fixed Targets and Running Targets
Discussion of the two types of targets that can be used to exit a trade, namely fixed targets and running targets.

How To Place Stop Loss Orders
Discussion about placing stop loss orders, with suggestions for where, and where not, to place stop loss orders depending upon how they are being used.

Stop Loss Orders - Market or Limit?
Discussion of whether stop loss orders should be market or limit orders, with an explanation of how each type of order can affect the stop loss.

Trading Logs
Discussion of trading logs, including the information that a trading log should include, and the different formats that a trading log can be stored in.

Trading During News Releases
Discussion of whether day traders should have active trades, or be flat (no active trades) during news releases.

Calculating One Percent Risk
Description of the one percent risk management calculation, with an example of how the one percent calculation is used to determine the size of a stock trade.

Trading with a Small Account
Discussion of under capitalization, and how it affects a trader's ability to make a profit, with advice for traders who have small trading accounts.

How To Use a Trading Log Correctly
Discussion of the correct ways, and the incorrect ways, to use a trading log.

How Much Trading Capital Is Enough?
Discussion of how much trading capital is required in order for a trader to be profitable, with examples of how different amounts of trading capital affect a traders' risk management.

Calculating Your Break Even Percentage
Description and calculation of the break even percentage, which shows the ratio of winning and losing trades that are required for a break even profit / loss.

Trade Your Own Charts
Advice for traders that trade with other traders, or that sometimes look at other traders' charts, or that share trading suggestions with other traders.

What is an Edge, and Why Does Everyone Think That They Need One?
What is an Edge, and Why Does Everyone Think That They Need One?

How Stock Indices Are Calculated
Discussion of how stock indices are calculated, and explanation of why learning how a stock index is calculated can improve your stock index and individual stock trading.

Explanation of How Percentages Describe Financial Market Price Movement
Explanation of how percentages describe financial market prices movement, and why a fifty percent decrease in the value of a financial market is the same as a one hundred percent increase in the value of the same financial market.

Trading is not about Searching for Trades
Discussion of why searching for trades is not trading, and how technical analysis should be used to determine when and where to make trades as either a discretionary or system trader.

Analysis is Analysis, and Charts are Charts
Discussion of why trading analysis is related to, but independent from, trading charts, and why trading analysis should not be made to fit a trading chart.

Overcoming a Losing Streak
Discussion of day trading losing streaks, with examples of acceptable losing streaks for different types of trading system, and suggestions for overcoming a losing streak.

Analyst or Trader?
Discussion of why some traders are better analysts than traders and vice versa, and how finding your opposite can make a very profitable trading partnership.

Pricing A Stock
Learn how stock prices are established and the factors that influence the constant fluctuation of prices during most trading sessions.

Investing or Trading?
Explanation of the difference between investing and trading and why individual investors are usually at a disadvantage over institutional investors.

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