Learn to Day Trade - It's Not As Hard As You Think

By John Templeton

Many people want to learn to day trade, but they are a little intimidated by the idea. They think only the "real experts" know how to do it and its something that most of the trading public will never understand. We'll that is just not the case.

Anybody can learn to day trade.

It s a little bit tougher if you are trading the stock markets, due to the day trading rules and regulations that are applied to it.

That is certainly not the case for forex. With forex, day traders have free reign as to how many times they can go in and out of a trade in a day. It just doesn't matter.

So now that you know its possible with forex, how do you actually go about learning how to day trade?

Well, let's take one thing at a time. If you are planning to day trade, you are going to have to be interested in technical analysis. There is no getting around it. You are going to have to learn how to read a chart.

I don't know too many fundamental traders who day trade. Fundamental trading involves a more long term perspective.

So, as far as technical analysis is concerned, you are going to have to do what almost every single successful trader does: They can just look at a chart and know exactly where it's going to go.

This may sound like all successful traders are psychic. I assure you that is just not the case.

A lot of people think that the really successful forex day traders are just a lot smarter than the ones who are losing. Let me dispel that myth, as well. Nothing could be farther from the truth.

As a matter of fact, I've met some incredible day traders who would need instructions on putting on a hat.

Many of them didn't even graduate high school.

So how did they become successes? It's real simple. They understood the concept of price action.

The unsuccessful traders struggle because they usually have indicators telling them what to think. They somehow feel that these indicators know more about the market than they do. It's really quite laughable.

Only when you get rid of your indicators and see the market in its truest form will you be able to learn to day trade.

John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. You too could learn how to day trade.