There’s Long and Short, and a 3rd position

“What are you trading today?”

That’s one of the most common questions I get from new traders. As a day trader, I open and close my positions on the same day, on most trading days. It doesn’t mean I have to trade everyday.

One of the biggest mistake, new traders make when starting out is believing that the only way to make loads of money is by trading every day. This is also one of the biggest reasons why almost 80% of new traders go out of business.

New traders usually think there are two positions you can take in a trade. To long or to short.

But experienced, successful traders know there is a 3rd position. Continue reading There’s Long and Short, and a 3rd position

5 things to ask your potential stock broker

You are ready to get started investing or trading in stocks. But there are just so many brokers out there. Which broker should you choose?

Whether you’re an active trader who does many trades within a day, or you’re a position investor that does one trade a month, we’ve compiled a couple of questions you should ask your stock broker (or simply look up their frequently asked questions section of their support section) before you go all in with a particular broker.
Continue reading 5 things to ask your potential stock broker