The History of Day Trading

Before day trading, if someone wanted to trade a stock, they needed to call a stock broker to place their order, who would then route the order through a specialist on the floor of the exchange. The specialist would match the buyer with a seller and write up a physical ticket that would transfer the stock and send that confirmation back to both brokers. Commissions were charged at a flat rate of 1% of the total amount of the trade. That means that to buy $10,000 worth of stock, it would cost you an additional $100 in commissions. In 1975, the SEC (Securities and Exchange Commission) made fixed commission rates illegal opening up the markets to the first of the discount brokers competing for business by lowering their commissions and making short term trading much more profitable.

Trend Trading

Trend Trading is a strategy where it is believed that a stock that is rising will continue to rise, or a stock that is falling will continue to fall. You enter the trade in the direction of the trend and exit once the price breaks this trend. Trend trading usually incorporates the use of trend and support/resistance lines. Click here for more information on Trend Trading.

Contrarian Trading

This strategy assumes that prices that have been rising or falling at a high rate of momentum will reverse and start going to opposite direction. The basic idea is that you are trading in the opposite direction as the masses. Click here to learn more about contrarian trading strategies.

Channel or Range Trading

Range trading is a strategy that assumes a stock’s price will continue to trade inside of a price range or channel. Traders using this strategy will buy long when the price is at the lower end of the channel and sell short when prices are at the upper end of the price range. Click here for more information on range trading.

Scalping

This trading strategy used to be defined as spread trading where you would take profits where small gaps expanded and contracted between the bid and the ask price for a stock. This strategy has now evolved to include technical indicators, support/resistance levels, and volume spikes to make round-trip trades lasting seconds to a few minutes. The basic idea of scalping is to take advantage of market inefficiencies using speed and high trading volume to create quick profits. Click here for more information on scalping.

Trading Rumors and News Events

This strategy is mostly only done by day traders. It requires that you have access to one to several real-time news sources and can make split second decisions. News and rumors can provide large amounts of volatility and high emotion creating great opportunities if traded properly. The biggest challenge of trading this strategy is anticipating the market’s reaction to the news and how it effects the price of the stock. Click here for more information on trading news and rumors.

4. We accumulate more information.
我们进一步的深造；
5. We switch the commodities we are currently following.
根据所学转变/升级我们的思路；
6. We go back into the market and trade with our ‘updated’ knowledge.
我们用新思路再度进入市场进行交易；
7. We get ‘beat up’ again and begin to lose some of our confidence. Fear starts setting in.
我们再度遭受创击，开始丧失信心，恐惧也接踵而来；
8. We start to listen to ‘outside news’ and to other traders.
我们开始倾听小道消息和其他交易者的看法；
9. We go back into the market and continue to ‘donate’.
我们返回市场，然后继续被打击；
10. We switch commodities again.
我们再度否定原来的思路；
11. We search for more information.
我们进行更多的练习；
12. We go back into the market and start to see a little progress.
返回市场，发现自己有了些进步；
13. We get ‘over-confident’ and the market humbles us.
开始自负（自我膨胀），而市场毫不留情得教训了我们；
14. We start to understand that trading successfully is going to take more time and more knowledge than we anticipated.
我们开始意识到要想成功地进行交易需要花费比我们预期更多的时间和精力，以及获取更多的知识；
MOST PEOPLE WILL GIVE UP AT THIS POINT, AS THEY REALISE WORK IS INVOLVED.
认识到这活非常棘手时，大部分人开始放弃；
15. We get serious and start concentrating on learning a ‘real’ methodology.
我们变得严谨自律/严肃认真，开始倾力研究实用的交易方法；
16. We trade our methodology with some success, but realise that something is missing.
我们用自己的交易方法获得了些收益，但同时也发现仍旧存在一些缺陷/问题；
17. We begin to understand the need for having rules to apply our methodology.
我们开始想到需要给我们的交易方案制定规则；
18. We take a sabbatical from trading to develop and research our trading rules.
我们用一定的节奏/周期的交易来改造完善我们的交易规则；
19. We start trading again, this time with rules and find some success, but over all we still hesitate when we execute.
我们接下来发现成功了不少，但仍然发现由于我们执行时的踌躇，错过交易或在交易时我们犹豫不决；
20. We add, subtract and modify rules as we see a need to be more proficient with our rules.
通过删减添加修正我们的规则，使其显得更有效率；
21. We feel we are very close to crossing that threshold of successful trading.
我们感觉我们非常接近成功交易/离成功交易不远了；
22. We start to take responsibility for our trading results as we understand that our success is in us, not the methodology.
终于我们认识到:成功在于我们自身而不是交易系统，我们应该自己为交易结果负责；
23. We continue to trade and become more proficient with our methodology and our rules.
持续交易，进一步完善交易系统；
24. As we trade we still have a tendency to violate our rules and our results are still erratic.
在交易的同时，我们仍然存在违背原则的意图/倾向，从而令交易结果并不稳定；
25. We know we are close.
我们需要休息.
26. We go back and research our rules.
我们返回来继续审视我们的规则；
27. We build the confidence in our rules and go back into the market and trade.
对于系统和规则，我们信心十足，返回市场；
28. Our trading results are getting better, but we are still hesitating in executing our rules.
交易结果更棒了，但我们在临门一脚处理不好，仍然有些踌躇；
29. We now see the importance of following our rules as we see the results of our trades when we don’t follow the rules.
当我们看到违反规则的糟糕交易时，我们就会意识到遵守规则的重要性；
30. We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.
我们发现不成功是由于自身的问题，（由于恐惧而不遵守规则等等），开始认识了解自我；
31. We continue to trade and the market teaches us more and more about ourselves.
我们继续交易，市场会教导我们愈来愈多关于我们自身的问题；/
在持续的交易中，市场让我们自身的问题一一暴露无遗；
32. We master our methodology and our trading rules.
我们已经精通和掌握我们的交易系统和规则；
33. We begin to consistently make money.
我们开始持续的盈利；
34. We get a little over-confident and the market humbles us.
我们有了些自负/自我膨胀的时候，市场又给了我们当头一棒；
35. We continue to learn our lessons.
我们继续吸取教训；
36. We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account
continues to grow as we increase our contract size.
我们超脱地按规则进行交易，虽然交易变得乏味，但交易很成功，账户的盈利不断的增长随着头寸的增多；
37. We are making more money than we ever dreamed possible.
我们赚取了超乎想象的一笔；/我们赚的钱超乎想象/预期；
38. We go on with our lives and accomplish many of the goals we had always dreamed of.
我们继续我们的生活，完成以往都不敢想象的目标

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