Best Free Day Trading Course 101

FREE Day Trading Course 101.

Day Trading Course Introduction.

This FREE day trading course is for beginners and existing traders alike. It lays out all of the aspects of day trading but also is equally applicable to swing trading and longer term trading. The course covers everything from an overview of the financial markets with a focus on the Foreign Exchange Market for trading as this is the biggest market and most popular within the trading community. This day trading course will cover a lot of theory which is essential if you are to be a sustainable trader and will include topics such as Risk Management, Fundamental Analysis, Technical Analysis and Trade Execution.
Trading the markets should be considered a business and like all businesses should have a business plan and a trading plan all of which will be covered in the course.

We hope you find it useful and helps you on your journey to success.
Day Trading Course

Day Trading Course Objectives.

Financial Markets

What are the financial markets?
Investor or Trader?
Trading Session Times.

The Forex Market

What is the Forex Market.
What drives currency rates.
Who are the major players?
The Forex Pairs

Mechanics of Trading

Contracts For Difference
Forex Pairs
Entry Price, Stop Loss, Take Profit

Fundamental Analysis

Interest Rates
Economic Drivers

Technical Analysis

Support & Resistance
Trend Lines

Trade Execution

When to Buy and Sell

Risk Management

Your Risk Profile

Trading Psychology

Rules Based

Trading Plan

Daily Trading Checklist
Create your own Trading Plan

What is Day Trading?

ChatGPT says:

Day trading is a style of trading in financial markets where individuals buy and sell financial instruments (such as stocks, currencies, commodities, or derivatives) within the same trading day. The primary objective of day trading is to profit from short-term price fluctuations in these instruments, typically without holding positions overnight.

Here are some key characteristics and aspects of day trading:

  1. Short-Term Trading: Day traders focus on very short timeframes, often trading within minutes or hours. They aim to capitalize on intraday price movements rather than holding positions for days, weeks, or longer.

  2. High Frequency: Day traders frequently execute multiple trades throughout a single trading session, seeking to take advantage of numerous small price swings.

  3. Technical Analysis: Day traders often rely on technical analysis, which involves studying price charts, patterns, and various technical indicators to identify potential entry and exit points.

  4. Volatility: Day traders prefer assets or markets with higher volatility because it provides more opportunities for short-term price changes. However, higher volatility also carries increased risk.

  5. Risk Management: Effective risk management is essential in day trading, as rapid price fluctuations can result in significant losses. Traders often use stop-loss orders to limit potential losses and carefully manage their positions.

  6. Margin Trading: Day traders may utilize margin accounts offered by brokers to increase their trading capital, enabling them to trade larger positions than they could with their own funds. However, margin trading involves additional risk.

  7. Pattern Day Trading Rules: In the United States, the Financial Industry Regulatory Authority (FINRA) has established pattern day trading rules. Traders with less than $25,000 in their accounts must adhere to specific regulations, such as maintaining minimum account balances and limiting the number of day trades they can execute.

  8. Emotional Control: Day trading can be emotionally demanding because traders face rapid decision-making and the potential for both gains and losses within a short time frame. Emotional control and discipline are crucial for success.

  9. Record Keeping: Many day traders maintain trading journals to track their performance, analyze their strategies, and make necessary adjustments.

It’s important to recognize that day trading is not a guaranteed path to riches and involves significant risks. Success in day trading requires a deep understanding of the markets, technical analysis, risk management, and a well-defined trading strategy. It also demands a substantial time commitment, as day traders need to closely monitor the markets during trading hours.

Before engaging in day trading, individuals should thoroughly educate themselves, practice with virtual trading accounts, and consider starting with a small amount of capital that they can afford to lose. Additionally, seeking the guidance of experienced traders or financial professionals can be beneficial for those new to day trading.

You may find an alternative description of Day Trading from Investopedia, a great resource of trading information