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Why daytrading?

Daytrading has many advantages. The electronic revolution made it possible for everyone to take advantage of even the smallest price fluctuations. Real-time data and order executions are available at lower monthly costs than ever before and a trader can access the markets from home with a standard personal computer.

This easy access to the markets was the reason why daytrading has become a booming business within a few years. The number of online accounts is still growing fast. Referring to Gomez Advisors (www.gomez.com) there have been about 100 online brokerage firms with almost 7 million customer accounts by the end of 1998. Gomez projects over 17 million accounts by 2002. Online traders account for about one third of daily retail transactions on the NASDAQ stock exchange already.

Why is daytrading so interesting? There is a simple answer: You can make incredibly much money in a short time and the access is easy. Everybody with a computer and an Internet access can be a part of the daytrading revolution. It’s tempting because daytrading promises freedom, wealth and adventure and gives you the feeling to do something exceptional. Daytrading is exceptional for sure. It’s a new business and opportunities seem to be unlimited. Everybody can make his fortune in daytrading, the markets are open for everyone. Where else do you have these opportunities?

As in any business some will succeed and many fail. Daytrading promises much for sure but there are many risks as well. The access to daytrading is easy but trading itself isn’t. It’s a brutal business and there is no easy money. You must prepare carefully and do your homework. To know the most common mistakes and pitfalls will save much money but can only be a first step to succeed in the long run. You must know much more, must be better than most of the other traders out there. This book gives you all the information you need. Make sure you read everything and don’t skip anything. It will take some time until you are finished with this comprehensive book but you will need this information. Make the exercises, go through all samples and demos carefully and make sure you understand what you see.

If there is something you don’t understand don’t hesitate to contact us at [email protected]. We’ll answer your questions as good as we can and as soon as possible. There is much useful information as well.

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