If youre thinking about getting into day trading, then youve probably got a pretty strong motivation. More often than not, that motivation is money. You want to be rich. No, wait. Let me be a little more specific: you want to be wealthy.
Just to make sure that were on the same page, let me touch on the key difference between being rich and being wealthy:
1.) Being rich means that you have a lot of money.
2.) Being wealthy means that you actually have time to enjoy
your money, time to do what you want to do when you want to do it.
So, is day trading really the ultimate solution to becoming wealthy? Lets see.
Here's one way to become rich:
You work your way up to the position of an executive in a corporation and make hundreds of thousands of dollars a year. Of course, youll be working at least 10 hours per day and at least 6 days per week.In my opinion, its the perfect way to become wealthy. Here are ten reasons why:
1.) Its the total equal opportunity job Your race doesnt matter. Your skin color doesnt matter. Your education doesnt matter, whether youre a Ph.D. or a college drop-out. Your sex doesnt matter. Your origin doesnt matter. Your age doesnt matter. Your background and history dont matter. Even if youve been in jail for years, you could still make money with trading. Your language doesnt matter. Your looks dont matter. And your social status doesnt matter, as long as you have sufficient funds to trade.
2.) No employees to hire You dont have to hire any employees, which means you dont have to worry about job interviews, payroll, employee evaluations, holidays, sick days, or employee performance. Your only team member is your broker, and if he doesnt perform, there are 10 others waiting in line for your business.
3.) No inventory, office space, or other equipment (besides your phone and your computer) You dont have to buy or rent expensive office space, and you dont have to stock any products, which means you dont have to worry about expiration dates, damaged goods, shipping, handling, insurance, or displays and promotions of goods.
4.) No vendors, no customers, no invoices, and no accounts receivable You wont have to deal with any face-to-face contact. You dont need any vendors, you dont need to satisfy any customers, you dont need to provide any customer support, and
you dont need to worry about any invoices, bounced checks, fraudulent credit card charges, returns, or charge-backs.
5.) The time required is minimal Whether you have a regular job or run your own business, the chances are that youre working at least 40 hours per week. With day trading, you can trade either part-time or full-time. You can start trading for as little as one hour per week, or you can go for the maximum of 2 hours per day. Its your choice.
6.) Low capital requirement You dont need a lot of money to get started. This is not like buying property, for example, where youre on the hook for a monthly mortgage and other cash-draining expenses. In trading, you can start with as little as 50,000
7.) Returns are almost instantaneous I'm talking "fast cash" in the sense that trading allows for quick liquidation. You can convert trades for cash within seconds. Where else in the world can you make money this fast and comfortably? You can buy and sell and buy again in minutes. You dont have to wait to see your profits. Try this with real estate or physical goods, where you might have to wait weeks, or even months.
8.) Low transaction cost You pay less than 500 per transaction in trading. Compare that to real estate transactions, in which you have to pay several thousand in closing costs, not to mention a 3-6% commission to your Realtor.
9.) It's simple to learn how to make money with day trading You dont have to go to college for years. And unlike most other professions, years of experience are not necessary either. After teaching hundreds of people how to make money with day trading, I firmly believe that everybody can learn how to become a successful trader.
10.) You dont need much to get started In fact, there are only six things that you will need:
a.) A computer
b.) An Internet connection
c.) A charting software if u are familiar to it
d.) A demat acct
e.) A properly funded trading account
f.) A good trading strategy
g) A TV and Cell Phone
h) must familiar with technical analysis
Just to make sure that were on the same page, let me touch on the key difference between being rich and being wealthy:
1.) Being rich means that you have a lot of money.
2.) Being wealthy means that you actually have time to enjoy
your money, time to do what you want to do when you want to do it.
So, is day trading really the ultimate solution to becoming wealthy? Lets see.
Here's one way to become rich:
You work your way up to the position of an executive in a corporation and make hundreds of thousands of dollars a year. Of course, youll be working at least 10 hours per day and at least 6 days per week.In my opinion, its the perfect way to become wealthy. Here are ten reasons why:
1.) Its the total equal opportunity job Your race doesnt matter. Your skin color doesnt matter. Your education doesnt matter, whether youre a Ph.D. or a college drop-out. Your sex doesnt matter. Your origin doesnt matter. Your age doesnt matter. Your background and history dont matter. Even if youve been in jail for years, you could still make money with trading. Your language doesnt matter. Your looks dont matter. And your social status doesnt matter, as long as you have sufficient funds to trade.
2.) No employees to hire You dont have to hire any employees, which means you dont have to worry about job interviews, payroll, employee evaluations, holidays, sick days, or employee performance. Your only team member is your broker, and if he doesnt perform, there are 10 others waiting in line for your business.
3.) No inventory, office space, or other equipment (besides your phone and your computer) You dont have to buy or rent expensive office space, and you dont have to stock any products, which means you dont have to worry about expiration dates, damaged goods, shipping, handling, insurance, or displays and promotions of goods.
4.) No vendors, no customers, no invoices, and no accounts receivable You wont have to deal with any face-to-face contact. You dont need any vendors, you dont need to satisfy any customers, you dont need to provide any customer support, and
you dont need to worry about any invoices, bounced checks, fraudulent credit card charges, returns, or charge-backs.
5.) The time required is minimal Whether you have a regular job or run your own business, the chances are that youre working at least 40 hours per week. With day trading, you can trade either part-time or full-time. You can start trading for as little as one hour per week, or you can go for the maximum of 2 hours per day. Its your choice.
6.) Low capital requirement You dont need a lot of money to get started. This is not like buying property, for example, where youre on the hook for a monthly mortgage and other cash-draining expenses. In trading, you can start with as little as 50,000
7.) Returns are almost instantaneous I'm talking "fast cash" in the sense that trading allows for quick liquidation. You can convert trades for cash within seconds. Where else in the world can you make money this fast and comfortably? You can buy and sell and buy again in minutes. You dont have to wait to see your profits. Try this with real estate or physical goods, where you might have to wait weeks, or even months.
8.) Low transaction cost You pay less than 500 per transaction in trading. Compare that to real estate transactions, in which you have to pay several thousand in closing costs, not to mention a 3-6% commission to your Realtor.
9.) It's simple to learn how to make money with day trading You dont have to go to college for years. And unlike most other professions, years of experience are not necessary either. After teaching hundreds of people how to make money with day trading, I firmly believe that everybody can learn how to become a successful trader.
10.) You dont need much to get started In fact, there are only six things that you will need:
a.) A computer
b.) An Internet connection
c.) A charting software if u are familiar to it
d.) A demat acct
e.) A properly funded trading account
f.) A good trading strategy
g) A TV and Cell Phone
h) must familiar with technical analysis
