| Step
1. |
Rule #1, Profit vs. Loss, and some glossary terms |
|
A brief explanation about "cost basis" and "net
profits". Also, a link to The Fool's School. Study time = minimum 30 min. |
| Step
2. |
Hit the Books |
|
A link to our recommended reading list. If you can't afford to buy
your own books right now, your local library should have a good selection of materials that you can
check-out. Studying is a "must". Study time = "unlimited" |
| Step 3. |
Understanding the Trading Markets |
|
Links to the various "markets". Also, the latest
"market" news in general. You need to know how each market operates so that you can anticipate the
effects of various world and economic conditions. Study time = minimum 2 hrs. |
| Step 4. |
SEC Investor Education |
|
Link to the Securities and Exchange Commission's Investor Education
site. Study time = minimum 1 hr. |
|
Step 5. |
The Law - Commentaries by Bill Singer |
|
One of our contributing editors. Link to Bill Singer, Attorney At
Law, that specializes in Securities Law. His commentaries on securities law are sometimes
controversial. Look for his upcoming series on day trading. Study time = unlimited |
| Step
6. |
Legal Links and News |
|
Links to various law sites plus "Online Legal Issues
News". Study time = unlimited |
| Step
7. |
The Basic Principles of Trading |
|
A narrative about trading with a lot of buz words. Also, links to
other sites with educational reading. Study time = minimum 3 hr. |
| Step
8. |
Keeping Your Focus and Don't Gamble |
|
A lesson about greed, gambling and how easy it is to losing a lot of
money in just a few minutes. Tattoo this one on your forehead. Study time = minimum 30 min. |
| Step 9. |
Technical Analysis A to Z |
|
Links to Equis International's free instruction in Technical
Analysis. Study time = unlimited |
| Step
10. |
Reading the Charts |
|
Additional studies and links to studies on chart
reading. Study time = minimum 2 hrs. |
| Step
11. |
Research Tools |
|
This is a list of nice to have research tools. Some are free and
some require a membership. Try the free ones first. Study time = unlimited |
| Step
12. |
The Classic Trading Rules |
|
50 classic rules to help guide you in your trading career.
Study time = minimum 30 min. |
| Step
13. |
Aiming For the Right Trades |
|
A lesson by Walter T. Downs on how to find the right trade. Study
time = minimum 30 min. |
| Step
14. |
Research Step by Step |
|
A step by step method for researching stocks. This is only one of
many methods available. However, it is a starting point. No one method is foolproof. Study plus
practice time = minimum 40 hours |
| Step
15. |
Trading Simulations |
|
Pick a simulator and practice. This is needed for your training
lab in Step 18. Practice time = minimum 1 week |
| Step
16. |
Choosing a Trading Broker |
|
You're not quite ready to sign-up with a broker, however, you need to
start looking them over. |
| Step 17. |
DayTrading 101 |
|
A refresher and review on the basics of day trading from CyberInvestor.
Study time = minimum 2 hrs. |
| Step
18. |
Paper Trading |
|
This is where you finally get close to the real thing. This is
your practice lab. Don't waist it. Lab time = minimum 4 to 6 weeks |
| Step 19. |
Pitfalls of Market Orders |
|
A lesson on the use and dangers of Market Orders. Study time =
minimum 30 min. |
| Step 20. |
Strategy for Trading Stops |
|
A lesson on using trading stops to protect your profits. Study
time = minimum 30 min. |
|
|
|
Step 21. |
Final Exam - Just how good do you think you really
are? Both True/False and Multiple Choice Questions |
|
|
| Optional Study |
Commodities and Futures Trading Lessons |
|
One of our contributing editors. Link to Bruce
Gould's site for a FREE newsletter consisting of 52 lessons devoted exclusively to teaching important
trading skills useful when trading in commodities, futures contracts, commodity options, stocks, and stock
futures. |
| Optional Study |
Day & Stock Trader's Tool box
An all-in-one tool box for day and stock traders featuring free downloads
of rookie trading guides with a free two-week stock pick subscription. |
| Optional
Study |
On-line Training Classes |
| Optional Study |
Leading Newspaper articles about Day Trading |
| Optional
Study |
Shorting Stocks |
