Prof. Tyler yamazaki

Table of Contents
Foreword
Chapter 1 The Profession
Chapter 2 Setting the Path Right
Chapter 3 The Gold Nuggets
Chapter 4 Know Your Enemies
Chapter 5 Tools of the Trade
Chapter 6 Strategies
Your Journey Has Just Begun
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Foreword
Let us get this out of the way upfront, day trading isn’t going to be for
everyone, it requires an understanding of the fundamentals of trading and it
has a number of risks that push it out of the realm of the average trader.
With that being said, for those who persevere, the potential rewards are
going to outpace practically every other type of security trading.
In order to help you minimize the potential risks and maximize the rewards,
the following chapters will discuss everything you need to know in order to
start out day trading on the right foot. First you will learn all about what day
trading entails including the fundamentals that any trader needs to know
before dipping their toe into the deep end of the trading pool. You will then
learn about the characteristics you need to strive to embody when it comes
to being a successful day trader as well as tips for success that will help you
on your way. Then you will learn about the common mistakes that new day
traders make as well as how to avoid them. Finally, you will learn about the
key tools of the trade as well as several useful starter strategies to try.
Every effort was made to ensure it is full of as much useful information as
possible. Enjoy trading!
You can find all my books here,
https://www.amazon.com/author/tyler-yamazaki

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Chapter 1
The Profession
At its most basic, day trading is just like any other type of securities trading
except sped up by a significant degree. Day traders typically only hold
specific positions for a few minutes, or less, on average, with no position
being held longer than overnight at most. In order to be a successful day
trader, you typically need previous experience trading securities in a less
high-impact way, dedication to what it is you are trying to do and a high
degree of discipline.
The process of making a day trade can be broken down into 5 steps that are
going to always be the same regardless of the specifics involved. First you
will want to find an asset that you want to trade be it a stock, option,
currency pair or any other commonly traded security. You will then decide
if it fits your trading plan. If it does you will want to take a specific position
based on current market trends. Then you will sell as soon as the desired
movement occurs. Finally, you will repeat until you are a veteran day trader.