The contextual meaning of the phrase day trading tips has two dimensions. One makes a lot of sense. The other is crap shoot.
On one hand, day trading tips include advice about the process-oriented methodology and tools involved in the actual practice of day trading online. Such advice could include everything from… don’t trade with a hangover or when you are not emotionally focused… to, make sure your computer RAM is sufficient to handle the data flow requirements of the software you buy to support your online real-time data feed and the need for upload speed for entering trades.
The other is an entire marketplace full of products – software, news feeds, online mentors, newsletters and bulletins – that actually tap you on the shoulder with “buy-now” and “sell this now” recommendations. These sources claim to use utilized models and real time market monitoring systems that trigger buy and sell points and define trading ranges within those “hot” trading moments.
Where the Two Contexts Overlap
For the latter to work, you need to have all the best efforts of the first realm – hardcore technical and process-oriented advice – in place. For example, to respond to the real-time tips provided by your system or mentoring source, you need to be able to respond quickly, clearly, efficiently, be error-free, and able to sense when you’ve hesitated too long.
Hard to do with a hangover.
No Buy/Sell Ideas Here
So if you’ve arrived here via a search engine hoping to find the next hot options trade or commodities strategy, keep looking, they’re all over the internet. But not here. Because such recommendations have a lifespan of mere seconds, and the focus of active markets can shift from day to day. If you do see an online posting recommending a buy or sell trade on a specific security, either research it immediately and, better, ignore it. Because it’s probably yesterday’s new.
The biggest tip you will ever hear is this: knowledge is power in the day trading game. Use the available systems and tools to increase your market visibility and ability to respond, which is the power required to succeed.
But even then, you’ll need more than a $4000 piece of software and a hard drive the size of a garbage truck. Just like an athlete must be steeped in the subtleties of a sport and then emerge themselves in the game, sometimes for years, before they begin to develop a sense about it, so too much day traders seek to hone their sense of where the market will go and which securities have already made their move.
Because, again, just as with sports, there’s someone across from you seeking your defeat. In this case it’s another day trader, who represents the market as a whole, and it’s you against them.
