Don’t rush in — research the game

A lot of sh*t gets talked about day trading that’s for sure, and to be fair it’s understandable. Tall tales of quick riches continue to attract people to an area of finance that is often poorly understood and viewed with some disdain by certain groups in society.

There are a million ways to make money in the markets, so everyone has an opinion. With the social media noise and the raft of charlatans selling a plethora of trading strategies it’s hard for people generally interested in pursuing trading to know which way is up.

More often than not those new to trading focus on completely the wrong things, typically these things are —

How much money can I make? What market should I trade? What course should I buy? How do I know where to get in and out?

These questions are not the questions you should be asking. They are of course the ones that naturally occur to the human psychology, but if there is one thing you need to know about trading, is that it flies in the face of everything that the human psychology finds logical, and comfortable.