My Traffic Magnet

I was sure that my brother had gone crazy when he told me he was quitting his paying job to become a full time day trader. Gerald is well known for always approaching things carefully and never doing anything in a reckless manner. But in less than a week he quit his job at the bank and began working out of his home office. I didn’t know what to say to my brother. My brother always was my role model, so I couldn’t point out his faults.

But when I thought of my three little nieces, I decided I had to step and ask some questions. One weekend when I got to his home I asked him what was up. I asked him why he gave up his great job that gave him a solid income and benefits. Gerald just smiled and responded in his normal self assured manner that he was very aware and very familiar with what he was doing. At that point I nearly lost it. I told my brother he was self-centered, and he should think about others. I thought twice as soon as I spoke those words, however my brother only smiled and agreed with me.

{Though I had almost no interest in the stock market, Gerald pulled me aside later that evening and insisted on explaining to me why he had decided to become a day trader.} I did not understand any of it. I couldn’t tell a day trade from a hole in the ground and I had no interest in following the market. Nevertheless my brother told me it wasn’t the entire black magic. He said there was a definite rhyme to his reason.

I listened to his spiel. He found that the most successful day traders gave their attention to just one or two stocks. Sometimes it took them several months of watching a stock to decide that it was worth it for them to trade it. In the end, it all came down to patterns. According to my brother, there are patterns on a daily basis that each stock moves on. You can’t really set your watch by these patterns, but they give a good hint to brokers about what the stock price will be in the future.

So now you know the secret to my brother’s success with money.  The way he made his money was simple. Instead of buying big, he bought small and watched his profit grow slowly over time. It was normal for him to trade the same stock many times a day.  Though a successful day trade yields short term results it offers chances for  repetitions during the course of a day.

His success at learning how to day trade got me interested to try my hand at it as well.Lucky for me, my brother is a great teacher, showing me what I need to study and learn how to do in order to be successful at day trading.While I do not expect to be as successful as my brother has, if I could just get proficient enough to earn some extra money that would be great.I really am glad I took the leap and learned about trading the stock market.