Honestly, day trading sucks.
It’s a complete waste of time.
What if you could easily earn 15% to30% profits – in just 24 hours?
It’s completely possible when you become an “Overnight Trader.”
Click here to discover my trading secret (FREE).
Back in the 1990s, it was all the rage. I remember meeting my first day trader in 1999.
I was a freshman at Skidmore College in upstate New York. And I’d just read this New York Times Magazine cover story on a day trader in Washington, D.C.
We met a couple months later at a private club in New York City. At the time, I was running an investing web site from my dorm room. And I was looking for contributing writers.
David was a Division I hockey player at the University of Minnesota. He then went to New York University Law School.
After a couple years, he quit the lawyer racket, The 90-hour work weeks, tons of travel. And the promise of at least 10 years before having a shot a “partner.”
It wasn’t for David. And so, what did he do?
The New York Times story highlighted that David quickly made $230 on 500 shares of stock – within the first 15 minutes of the “work day.”
And that’s what day traders used to do.
Buy up shares of stock – and hope that the stock moved higher (or lower, if shorting). At the time, technical analysis – or “chart reading” – was the preferred method for picking trades.
Today, day trading is even more difficult. That’s because high-frequency trading firms dominate the market – and computers recognize patterns faster than humans.
Let’s face it . . .
Day Trading Sucks!
Back in the 1990s, day trading was relatively simple.
Today, it’s nearly impossible to make money. Here’s why . . .
1) Capital Intensive
To successfully day trade, you need at least $100,000. Buying stocks – even on margin – is incredibly expensive. So, if you’re looking to earn a full-time living trading, you’ll need a sizable bankroll. Plus, you’ll want to make sure you have enough cash to survive a market downturn or a trading slump.
2) 9:30 a.m. to 4 p.m. Eastern Time
The U.S. stock market is open for 6 ½ hours every day. Day traders typically want to be at a desk – watching the market – whenever they have open positions. That means watching every tick of the market. Maybe that works, if day trading is a full-time job. But it certainly doesn’t work if you want freedom.
3) Difficult to Win
The advent of high-frequency trading makes this nearly impossible. In Flash Boys, Michael Lewis reveals the inner workings of the trading firms that dominate the market. These firms hired PhDs in mathematics to program computer servers to trade the markets. They exploit every possible strategy, and make it impossible for any day trader to “beat the market.”
Sounds like a horrible way to earn a living . . .
That’s why folks are getting excited about this “Overnight Trading” strategy.
Basically, it lets you get all the benefits of day trading . . . without the problems.
When you become an Overnight Trader, you’ll:
- Get started with as little as $1,000
- Make quick trades for 15% to 30% gains
- Never keep a trade open for more than 24 hours
- Only trade 10 minutes every day
- Exploit a common market misconception
Click here to become an “Overnight Trader” – starting today!
Andy Crowder’s LIVE training reveals crucial details. And I’ll be there to share everything.
Oh – and a few years ago, I met up with David. We had sushi together in Cleveland Park. And at the time, he’d given up day trading and was working as a lawyer once again. 😞
Don’t go backwards – click here now.