The Learning Curve.

The Learning Curve

   This blog will be solely focused on the tools I used to become the trader I am today. A lot of you are in the Pursuit of Happiness. How many of you attain that? Well that's for you to decide. Is this a rewarding career? Heck yes it is. Was it worth the blood, sweat, and tears? Yes. People often say, "Only 10% of day traders make it, & its not worth it." This is true. Are you that 10%? Do the numbers, how many people keep the same job over a life span, how many high school & college dropouts are their? You know 10% of Americans are well off, 5% of that you have the rich and 1% of that you have the super rich. Hmm that's interesting. I hope I'm hinting something here. Day trading like many other careers has the same exact numbers of failure give or take. Are you motivated? Are you the next successful trader? Have you invested in your learning? If the answer is no, then more then likely this blog isn't for you. 

 As many of you know I started trading penny stocks. That's where I learned my support and my resistance lines. I had no idea how to read level 2 quotes, charts, or candles. I learned most of my charting skills at stockchats.com. I would highly recommend this to a new trader or even a novice. This teaches you almost everything you need to know about charts. A lot of interesting stuff in here. This my take weeks, maybe even months to get it down. 

 Paper trading, ah yes I did say paper trading. Want to invest in your education? Then this is how you start. Ever watch a 16 year old drive a brand new Corvette? I didn't think so. Why would you do the same? Get what I am hinting at? If not no worries, just blow your money on something else. I'm serious I lost big when I first started. Wish I started paper trading first. Yes its a whole different experience. Yes you can make 100k on paper, but don't brag about it like most of the furus on Twitter. Anyways once you have a 51-55% winning average on paper move onto the real thing. Hopefully you don't open 100k account your first time around. Take it easy, go small at first, then build your way up. Suretrader has a 100k demo. You can also download apps on your smart phone. 
  
  If you want to be a successful day trader. You need a level 2 pro platform hands down. Your broker should provide you with this at an extra fee. Don't trade without it. You might as well donate your money if you are trading without this 21st century tool. I use charts, level 2 montage, times and sales, news, market clock, and watch lists. If you wanna be a serious trader then buy the package, don't be the guy buying cheap oil for his car to later find out his engine is screwed.

This is a mental thing, but if your a trader and see unrealized gains behind your screen it seems like a game right? It isn't, I have $1,000 cash in front of my computer to make me realize what money actually looks like. This is a mental thing again. I use this as a reminder of what unrealized gains could potentially look like on hand. Helps a lot. 

  Ever read? If not its a good time to start. Even though the books I will recommend have nothing to do with trading, I think its paramount to your success. Books have a funny way of improving your life. So much knowledge stored on selves. Life experiences that have gone unnoticed just waiting for you to read. "You will be the same person you are today, 5 years from now, besides the books you read and the people you meet." Here is a list: The Power of Consistency by Weldon Long, Think and Grow Rich by N Hill, Rich Dad poor Dad by Robert K, The Alchemist by Paulo Coelho, and The Mentor. The list goes on. Just read. Personal development is key to your success.  

 Join a newsletter with a professional Guru. Yes a Guru is paramount to your success. Want to go skydiving without a teacher your fist time around? Yeah you'll probably end up hurt or worse. I would recommend a guru who is transparent and doesn't paper trade. A Guru who's name has been put to the test and has passed every single time. Nate at Investors Underground has it all. We have Mountain Trades aka @MoutainTrades who is a ridiculous penny guru, he runs the penny chat. A buddy of mine @stockchoices turned 5k into well over 70k in a few months learning from this guy. We have Michele aka @Offshorehunters who runs the swing room. Her calls are unreal. Yeah I made $34,000 or so on PLUG the other day, she assisted in that trade. Finally but not least, Nate aka @InvestorsLive, this guy is my mentor and friend. He has helped me in every step of the way. Yeah he did make me $33,500k on NEWL short. I had my two biggest days because of the IU community Nate has built. You have 3 services in 1. What is their to think about. He also has the best dvd out there. The dvd is worth more then advertised. Invest in your education or don't its up to you. If you do decide to sign up. I would highly suggest the elite service. Nate does video recaps that will help improve your skills as a trader. 

  Another great tool is Stock Horizon. This tool gives you real time alerts to buy or short & price targets. Even if you just watch the alerts it can teach you a lot. This tool has an 78% win ratio, sometimes higher. Steve is easy to deal with and will get back to you with any questions you have. 

 Twitter is the last tool I'm going to talk about. There are furus and real gurus on there, so be careful who you follow. This is a must though. We are in the 21st century where social media rocks. Join the flow. Join Twitter.

  If your a serious trader or want to be a serious trader. These tools should help you advance in trading. Invest in your education and don't ignore these tools by trying to save a quick buck. For every dollar you invest in your health you save 4 dollars down the road. Interesting. I'll leave you guys with that.


Link for Investors Underground 
Link for Stock Horizon 
Link for Stock Charts
Link for 100k demo



Hope this helps,
Derrick J Leon