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Get a Live Trading Platform This is the single biggest decision of your trading career, getting the right software will be the absolute difference between success and failure. Rule 1: Never try to day trade with web based charts and order forms. Rule 2: Never try to day trade with cheap crappy free software. (It’s free for a reason.) Rule 3: Invest in a high quality platform that you install on your PC. Rule 4: Never ever try to day trade through your cell phone. Rule 5: If you’re not willing to invest in proper tools of the trade, then don’t even start. Rule 6: The free software provided by your broker is not the trading software you’re going to want. Remember, my profits come from your pockets. Don’t make it easy for me to take your money, and by doing any of the above listed items, you’re setting yourself up for failure. If you’re going to do it, do it right, or don’t do it at all. Trading is difficult enough without starting out with one hand tied behind your back. Personally, I like software platforms that are dedicated to the market I’m trading. There are enough differences between Stocks, Futures, and Forex that I don’t want the same platform trying to manage all three markets through a single interface; causes way too much confusion, confusion causes losses. (I don’t trade crypto.)
Software Choices In my opinion, there’s only one trading platform you should consider. Here’s my favorite. Platform 1: Track ‘n Trade Live Futures. This is the software I use. It’s specialty software dedicated to trading the futures market. (They also have a dedicated Stocks & Forex versions.) They offer a fully functional two week trial, allowing you to try it before you buy. o Get a free two week trial which includes live data at: Tools4Traders.ORG It has programmable “Bots,” allowing you to quickly and easily create custom order tools, OTO & OCO, (One-Triggers-Other, One-Cancels-Other) No coding required. It has a visual interface, allowing you to actually trade directly on the chart. (You never enter your orders through a cumbersome order box. You simply drag ‘n drop orders on the screen, and move them to the price levels you want. I’d say it’s amazing, but that would be cliché’, so I’ll just say, I love it. It has all the necessary indicators, Fibonacci & Elliott Wave tools necessary to perform your technical analysis. Once you purchase the software & subscribe to your live data feed, you never have to pay for another software upgrade again, all software upgrades to new versions are free for active traders. (Saves a lot of money never having to buy new version upgrades.) All my trade examples, videos, and educational cheat sheets are created using the Track ‘n Trade platform. If you want my help, I recommend you use the same platform I use.
You Need a Trading Plan You need to decide what type of trader you want to be. Ask yourself these questions. 1. Are you a scalper? a. Very short trading time frame, seconds to minutes. 2. Are you a day trader? a. Long(er) time frame than scalper, usually minutes to hours. 3. Are you an investor? a. Long(er) term trades, weeks to months, to years. 4. Are you an options trader? a. Options can be traded on any time frame, day trade, short-term, to long-term. b. Long term options, nine months or more are considered LEAPs. i. I call them LEOs, (Long-term Equity Opportunities.) If you’re reading this document, you’re probably interested in Day Trading, and Scalping. That said, let me say, what I like to do is something I call Scalp ‘n Trail, which is a combination of Scalping and Day Trading. Then, once I’ve made enough money doing that, I withdraw my profits and purchase LEOs in the Stock Market. If you want to do what I do, you’ll need Track ‘n Trade Live Futures to Scalp ‘n Trail, and Track ‘n Trade LIVE Stocks to trade LEOs. o I never day trade stocks, I only Scalp ‘n Trail futures. (Visit the home page to get my trading book.) o I rarely options trade in futures, I like to buy LEOs in the stock market.
Getting a Brokerage Account A brokerage account is very similar to a bank checking account. You place your money in that account, and it’s not at risk until you place an order; it also does not earn any interest. The growth of that account comes from your trading activity. 1. Track ‘n Trade is not a brokerage firm, they are software developers who develop software for the financial industry, primarily for professional day traders, with a special emphasis in futures and commodities. a. When you install Track ‘n Trade, you can open your Futures trading account directly through the software by clicking “Open Live Account,” which will connect you to their recommended brokerage firms. (The firm I’m with is Gecko Financial Services, and is the Futures brokerage I recommend.) 2. Track ‘n Trade Live Stocks version uses Tradier as their clearing firm, which is where I have my stock/options trading account, and where I trade my LEOs..
You Need Education The best education you can get is to download and install Track ‘n Trade Live Stocks & Futures and start practicing in the live Demo Account(s). The demo account is free for the first two weeks, and then it’s included when you purchase the software and subscribe to your live data feed. This way you can continue to practice before committing real money to the market. We teach a number of streamlined online courses, you can find them listed here. Once you have the software, you’ll need to learn two things: 1. You’ll need to learn how to use the Track ‘n Trade software. You’ll need to watch the “How To” videos in the help menu. There’s going to be a learning curve, much less of a learning curve with Track ‘n Trade than with any other software. Track ‘n Trade is the easiest to learn. 2. You’ll also need to learn to trade. You’ll need direction in getting started, and how to execute winning trades. a. I’ve written a book titled: The 5 Rules of Highly Successful Traders. It’s over 100 pages of everything you’re going to need to know to get started doing what I do. i. Visit www.StockMarketCheatSheets.com for additional details and educational material. b. Even though you have the software, you still need some step by step guidance on how to get started trading. This is the book you need for that. (Once you read this book, you will of course want to continue expanding your knowledge by reading many more books as well.) There’s a list of recommended books in the back of my book.
I regret nothing in life but the things I have not done. - Coco Chanel
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*Trading financial instruments, including Stocks, Futures, Forex or Options on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts. Past performance, whether actual or hypothetical, is not necessarily indicative of future results. All depictions of trades whether by video or image are for illustrative purposes only and not a recommendation to buy or sell any particular financial instrument. Testimonials are not an admonition or guarantee of long-term success. All reviews are the site owners personal opinion. See full risk disclosure
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