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Author: Orren

Can Actually You Day Trade With $500?

There’s a lot of brokers out there that will allow you to day trade Futures with $500 in margin… like a lot. I get it. You’ve seen all the people online showing off their riches that they’ve made trading, and you want that kind of life too, so you think “Hey, I can put in a measly $500. I can risk that, and then I can millions. I can be that guy too.” Well here’s the not so shocking truth… You can’t. Not with $500 at least. You can absolutely make it as a day trader, swing trader, whatever-trader. But...

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Should Traders Read The News?

In short: yes. Even if you’re a technical trader, that only looks at charts, it isn’t a bad idea to read the news. I’m not saying that it is a good or bad idea to make your trading decisions off of the news, but you should at least be aware of what is going on in the world. World events such as an election, Brexit, and global conflicts can have an impact on what you’re trading. Often times, these events provide great opportunities and volatility in the market. It’s good to know if there is a binary event that...

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When Should You Change Your Trading Strategy?

Trading is a tough game. It’s tough for a lot of reasons, but mainly it’s because it’s impossible to predict the future. The reality is that there is no way of knowing whether your next trade is going to be a winner or a loser. Moreover, you don’t know if your next 5 or 10 trades are going to win or lose. When you’re going through these drawdowns, it’s easy to get upset, frustrated, and lose faith in your trading system and strategy. But just because you’re going through a losing period does not necessarily mean that you should...

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What Are Reasonable Profit Targets In Trading?

The success or failure of your trading truly comes down to this. There are a few other things that are equally as important as assessing reasonable profit targets (position sizing is one of them). If you aren’t taking profits, you aren’t making money. A lot of people, especially newer traders, like to hang on to an open trade that’s winning, because they think the trade will just keep gaining and gaining. They’re afraid to get out of the trade and book their profits, for fear that they might miss the extra gains. Your Account Is All That Matters I’d...

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How Much Capital Is Needed To Trade For A Living?

This is a great question, because it’s already showing that you have reasonable expectations when it comes to trading. The mere fact that you’re wondering this shows that you are smart enough to know that you won’t be turning $500 into $500,000 any time soon. The way that we’re going to tackle this question is that we’re first going to talk about risk and reward, then we’ll get into the specifics of each asset class. Fair enough? Great. Risk and Reward Risk and reward… we all know what it is. We all know that there’s no such thing as...

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