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Day Trading For A Living - Can You Live off $3375 In One Day?
To Learn how to day trade visit http://daytradervideo.com Day trading for a living can be an extremely
hard profession if you allow it to be. Most of the time we are so focused on how well
certain people do in the market that we tend to not really pay close attention to how they
are doing it. That's exactly the reason why for the last
few weeks I haven't shown you some of the large amounts of money a day trader can actually
make. I've actually stuck to showing you what's possible on a beginner's day trading strategy
with one contract. But to be quite honest with you day trading
for a living can be so much more lucrative when you actually get really good at it. That's
my purpose with showing you my trading for the next week. At the end of last year I was
trading somewhere around ten contracts which equals to about $500 per point. This year
I hope to reach the 100 contract mark but it will take quite some time to get there.
So, today I decided to show you what it's really like to do some day trading for a living
with a larger contract load. You've already seen exactly what a beginner can do and today
and the rest of this week I'll show you what can happen once you've mastered the art of
consistency and have a complete trading plan. At the end of last week I was actually hesitant
about continuing to trade five total contracts. After all the market had been rather sluggish
the past few weeks and not really the volume and volatility that I like to see. However,
I figured one week shouldn't be too bad. And after all I am a gambler. What's the worst
that could happen? I'm glad I just decided to go for it. And
honestly I could tell just from the pre-market that we could be in for quite a ride. Notice
the difference between last week's pre-market and this week's. This was the first clue that
led me to believe that trading five contracts would be just fine.
Overall the day was totally to the upside and this was pretty easy to spot if you have
trained your eyes to recognize the market environment. This is an extremely important
step that I teach all of my students. It is at the core of our learning.
Overall on the day I finished up 13.75 points for a total of $3375 at five contracts.
Not bad for a day's work.