| Many people dream about becoming day traders. | | | | accounts, yet never allow the public at large to |
| Many have tried to make money this way trading | | | | examine their trading records in a comprehensive |
| individual stocks or emini futures. Most have failed or | | | | manner. Sure, from time to time, on a really good |
| will fail. The success rate among day traders is a | | | | day, they post their results for others to view (and |
| mediocre 5-10%, but then again, the success rate | | | | admire), but that is not enough to know if they really |
| among upstart businesses is hardly any better if at all. | | | | are consistently profitable as day traders. |
| Launching a daytrading career is as risky as starting a | | | | And if they are not, why would you want to learn |
| new business. It's hard work, many challenges and | | | | from them? What they truly excel at is selling their |
| frustrations to overcome and a lot of perseverance. | | | | services and not making money applying what they |
| That is, if you want to succeed. | | | | preach to their own accounts. |
| When the things get tough and the clear progress is | | | | Mastering day trading takes time and effort just as |
| yet to be seen, it's quite tempting to look for | | | | does mastering brain surgery. But if you wanted to |
| shortcuts, for someone who would shorten your | | | | master the latter would you rather choose as your |
| learning curve, for a mentor of sorts. | | | | mentor an experienced brain surgeon or a guy selling |
| And it's very easy to find it. There are plenty of | | | | tools for brain surgeons? |
| mentors out there, running Internet day trading | | | | There is only one way to separate true day trading |
| chatrooms for a fee that hardly ever is | | | | experts from bogus ones. By insisting that they take |
| commensurate with the benefits gained, not to | | | | trades they call in the chatroom and prove it by |
| mention, profits made by participating in their | | | | disclosing their trading records. It does not matter |
| chatrooms. | | | | how many contracts they trade. One is enough and |
| This should not come as a surprise. The majority of | | | | already too many for most of them. |
| such rooms are run by people who never made it as | | | | How many such experts can you find out there? |
| day traders yet were shrewd enough to capitalize on | | | | When it comes to day trading emini futures, I know |
| their "expert" advice by offering it to others instead | | | | of only one. Out of dozens of such operators that I |
| of perpetuating the misery of putting it to use in | | | | have seen online over the last few years. (I may |
| their own accounts. | | | | reveal his name on my site in due time.) Think about |
| Some of such experts would like you to believe that | | | | it next next time you decide to seek help from one |
| they trade dozens of emini contracts in their own | | | | of them. |