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  • Writer's pictureMatt DeLong

How do I avoid day trading mistakes?

Making mistakes is part of the process to learning, do you really want to avoid part of the learning process? Here are a few suggestions:

  1. Absorb as many free YouTube videos as you can to understand some of the basic strategies concepts: Real Life Trading & Investors Underground are a good start.

  2. Use a demo account w/ DasTrader Pro for $200/month to use real time price data but with demo money. Any money you make or lose resets the next day. This requires you to have time to sit in front of a computer during market hours (9:30a - 4:00p EST)

  3. Accelerate your learning with a TradingSim Day Trading Simulator - Learn How to Trade | This allows you to practice during evenings and weekends using past data replayed once candle at a time.

  4. Keep a trading log of your practice trades to review your entry/exit and reason for entering and reason for exiting. At the end of the month, review your trades to learn as much as you can learn about your emotions and your thought process.

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