I thought my brother had lost his mind when he decided to quit his job and become a full-time day trader. Gerald had always been the responsible one and he’d never made a rash decision in his life. But in less than a week he quit his job at the bank and began working out of his home office. I didn’t know what to say to my brother. He had always been my role model, my big brother, and so I found it hard to criticize him.
But when I thought of my three little nieces, I decided I had to step and ask some questions. One weekend when I got to his home I asked him what was up. Why, I asked, had he thrown away a good job with a fine salary and great benefits? Gerald simply smiled and responded in his usual cocksure way that he knew what he was doing. At this point, I almost went out of control. I told my brother I thought he was selfish and that he had to think about other people for a change. I thought twice as soon as I spoke those words, however my brother only smiled and agreed with me.
{Though I had almost no interest in the stock market, Gerald pulled me aside later that evening and insisted on explaining to me why he had decided to become a day trader.} To me it was all Greek. I wasn’t really interested in day trading or the market. But my brother told me it wasn’t all black magic. He told me that there is a predictable rhyme to his reasoning.
I sat back and listened to his rap. To begin with, he told me that making a day trade was all about paying attention to one particular stock, when you do it yourself and do not use a day trading robot Sometimes it took them several months of watching a stock to decide that it was worth it for them to trade it. All in all, it just came down to patterns. According to my brother, there are patterns on a daily basis that each stock moves on. Though you couldn’t exactly set your watch by these patterns, they gave brokers a good hint about where the price of a stock was likely to go.
And this was how my brother made his fortune. He never bet too heavily or put all of his eggs in one basket, but rather purchased small quantities of equities he thought would appreciate in price and watched them until it was time to sell. It was normal for him to trade the same stock many times a day. Though a successful day trade yields short term results it offers chances for repetitions during the course of a day.
His success at learning how to day trade got me interested to try my hand at it as well.Lucky for me, my brother is a great teacher, showing me what I need to study and learn how to do in order to be successful at day trading.I do not expect to get to be as good as my brother is at day trading, but I think it can provide me with some extra income.Iam really glad I overcame my fears and learned how to trade the stock market from my brother.
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