Good day trading education is very hard to find & I’ve been working hard to get things where they need to be with everyone in the training program and even my day trading & travelling blog, WanderingTrader.com. One of the things that I wanted to talk about as well was the new changes I am going to be making to the public side of the site, for everyone.
Now that we have new traders that are going to help me with classes and the new updates to the curriculum are almost complete, I also wanted to develop a section of the site to talk about day trading in general and teach everyone about how to get started. In essence, giving back to you in case you are trying to go at this alone.
I am very lucky to be living my dreams through day trading so I want to be able to help others as well through other means. The original concept for this site was to do just that but I haven’t had the time to do that just yet.
If you want to learn how to day trade I don’t want you to have to spend thousands of dollars on training in order to do so. When I first started offering training to those that were requesting it I even had them decide how much they wanted to pay because for me it is about making sure that people are serious, not making money of a day trading business.
What I plan doing is talking about all of the major markets and providing education on the very basics of market movement. I will still have the Elite Training Program available to a small select number of people that want to get my hands on, back tested, and proven Congressive Day Trading System.
Beginners Area
I am going to be splitting the site into two free educational resources, beginner & intermediate. I also plan on organizing the site a bit in order to have all of the resources available via a start page. The idea is to have a different set of resources for those that are just getting started and also have a higher level of training for those that are more experienced.
I have noticed that most people get to the site and spend hours searching for information so I want to organize everything so that it is easily available.
Some people may not know what I am talking about with ticks and points and even my market recaps, we are going to do instead is take everyone from point A to point B. No matter if you are an experienced veteran that has been in the industry for 20 years or have never heard of day trading.
This is for everyone that wants financial freedom so you don’t have to answer to “the boss”
The beginners area will have details of the basics of day trading; why you should trade what and why, what tools to use to get started, and basic information about market movements that everyone should know at any stage of their day trading careers.
Intermediate Area
Once the basics are out of the way, we can start to focus on more advanced subjects that all day traders have problems with. I have experienced in my near 10 history that there are always things to improve on and providing a resource for people is something that I wish I had when I first started.
Everyone wants to know what they are getting into, since I have been doing this for so long I definitely have what it takes to talk about the little things that most people don’t talk about like day trading psychology, day trading taxes (USA, Australia, & Canada to start), characteristics of each market that we trade, and possible charting setups for everyone as well.
Since I am big proponent of NinjaTrader, a 100% free trading platform that anyone can use until they go live, I plan on giving everyone the tools to be able to do just that. I plan on migrating away from Tradestation because the enormously high monthly fees (NT is free until you go live), outrageous commissions costs, and the outgrown platform that has now become extremely heavy on our computers.
The Monthly Challenge
I don’t want to spill the beans on what I call the monthly challenge just yet but we are working on something that is going to provide an additional level of training basic training. Think of this as a monthly program that is going to allow you a jump start to get started in your new career. Since many people have unfortunately been through the endless scams that many day trading companies are infamously known for I want to create something that would allow someone the ability to really go at it on their own.
If you have any questions or feedback or would like to see anything else featured I would really love to hear from you! Leave a comment or contact us and we would be happy to hear from you!
William October 10, 2012 at 9:20 am
Hi Marcello
Really looking forward to your site updates. I just watch last week webinar recording on monday night and I immediately got attracted to what you are doing. Today is wednesday, in just 2 days I have almost finish looking through this whole blog from the very first to the latest post, study each of the market recap and your trading discipline & physcology.
Got quite disappointed that I’m late to enrol and the training program is already closed.
Please let me know if there is any opening to the program.
Really awesome work you are doing here, keep it up!
To freedom & beyond!
William
Marcello October 10, 2012 at 1:06 pm
Will do William.. thanks for the comment
Pablo October 10, 2012 at 9:29 am
Hola Marcello!!!
Veo que estás muy activo en el sitio web y planificando muchas cosas.
Fue un placer compartir un “minitour” por Barcelona y hablar de un montón de temas.
Te deseo mucha suerte en Londres y que todo salga fantástico.
Ya sabes que aquí estoy a las órdenes por cualquier cosa que necesites.
Un saludo y estamos en contacto.
Marcello October 10, 2012 at 1:06 pm
Gracias Pablo
Micah October 10, 2012 at 11:28 pm
Great updates! Thanks for sharing what you have learned; very informative and helpful.
Marcello October 11, 2012 at 6:56 pm
My pleasure Micah
jorge October 11, 2012 at 11:58 am
“Now, if Trader A buys from Trader B, Trader A must sell in order to profit or to cut losses short. If the market goes against Trader A, where will he sell? It’s the simple law of supply versus Demand, combined with trader psychology. Understand what the losing traders are doing and learn to exploit their mistakes. If the majority of the traders are short, who is left to sell? Supply has run out. The markets must reverse, which will cause shorts to cover and price to rally.
We are not trading the markets. We are trading other traders. Traders trade their own belief systems. Last, patience and discipline are your best friends. Trading is not gambling. Hold a professional mindset and not a gambler’s mentality. Most of the trading day is spent sitting tight and waiting for oppor- tunities. If you lack patience, trading is not right for you.”
James Okada, trader
Nothing, I just wanted to share this. Any thoughts?
Marcello October 11, 2012 at 6:58 pm
James.. that is more fundamental analysis in play.. that is one of the reasons that rich men buy when there is a crisis and poor men sell when there is a crisis. You can’t read market psychology when you are truly day trading because the momentum and swings in movement that you are looking at are based in minutes and hours, sometimes seconds. The idea with day trading, especially intra day trading, is that the psychology of the people trading the markets are plotted on the charts. By being able to read the momentum and market off the charts which is based on that psychology you are able to make the decisions needed to make money.