Ever dreamt of giving up the daily grind? Want to strike out on your own and work from home, but don’t know what you could possibly do to make a living? Full time Nasdaq trader Harvey Walsh wondered just that, and now he asks „Is day trading the ultimate work from home job“? We’ve probably all had the same thought at some time or another, as we trudge off towards another day at work – the same work we’ve been doing day in day out for years – „surely there has to be a better way?“ Slaving away to make somebody else rich just doesn’t seem right somehow, but what alternative? Setting up a new business, or buying an established one, are both expensive and risky prospects. So how can the disenchanted employee ever hope to make the switch from wage-slave to total independence?

Well, it’s time to stop believing the lie. Stop paying for „sure thing“ entry methods. I write a market newsletter each day, giving my „game plan“ for the next trading day. I’m as specific as possible including Support and Resistance levels that I will be buying and selling against, which provides you with great trade set ups nearly everyday. I’ve been day trading futures for 27 years and I’ve developed a strategy that makes money consistently. I don’t promise overnight success, anyone who is really serious about wanting to learn day trading realizes that it’s not a get rich quick profession. Yes, my method does include great entries, but most losing traders have decent entry strategies. My experienced day trading advice doesn’t focus as much on entries as it does on exits…Offense doesn’t win this ballgame, defense does!

That was when I discovered day trading, and I realised that this was exactly the opportunity I had been searching for. I decided there and then that I was going to make a full time living from the stock markets, whatever it took to succeed. The advantages of day trading as a job are numerous to say the least; there is no boss to answer to, no customers to satisfy, no suppliers to let you down, no waiting for invoices to be paid, I could go on. In fact, I will: trading is a location-independent activity – I can work from anywhere with an internet connection, which effectively means anywhere in the world with a telephone line. I regularly trade from my laptop whilst travelling. I can trade when I feel like it, and take time off when I like, which means I can spend quality time with my family.

Most new companies (about 95% by some estimates) fail. The same is true of traders, they want to be successful, but just don’t know how to go about it, which day trading advice should they believe, and who’s just trying to take their money. But there is an upside to all of this, successful companies know a secret. They find a way to identify their losers in the early stages… and close the projects down quickly before losing a lot of money in the marketing process.As James Surowiecki puts it in his book, „The Wisdom of Crowds“

Which brings us to most asked question number two, losses. Yes everybody has losses, I do, you will even the most experienced trader on the planet will have losses. The sooner you accept that and move on the better off you will be. You can’t beat yourself up over having a couple of losses. Try not to look at them as losses, look at them as business expenses. They are just a part of doing business, nothing more nothing less. You could see a market that looks setup perfectly to make a move all the planets have aligned and sure enough you jump in and get your fill. Only to have the market turn the other way and take off like a Jack Rabbit, it happens far more often to us than most traders would like to admit. You can’t take losses personally you can’t try to trade your way out of them and you can’t control when they are going to happen. So just don’t beat yourself up, take your loss chalk up to a learning experience and move on. Sometimes there isn’t even anything to learn. You made the right move everything looked good, the market just turned. It will do that more than you care to think about.

And that brings me to the most satisfying aspect of trading for a living; money. On an average day trading the Nasdaq, it is not unusual to make more money in a couple of hours than I used to make in a whole month working full time as a wage-slave. There are bad days of course, days where things just don’t work out, but they pale into insignificance over the course of a week or a month. It certainly took some intensive studying and a lot of practise before becoming a consistently profitable trader. But the end result of that hard work is an immensely valuable life skill that nobody can take away, and which allows for incredible freedom. Since I first started trading, the learning curve has become even easier for the aspiring day trader, with a multitude of new websites, training courses, and books all covering the subject. I envy anyone starting out in this business today – they certainly have many more learning aids available to them than I had at the same point in my own career.

Frank Miller has a Debt Consolidation Blog & Finance, these are some of the articles: A Review Of Emerging Market Funds You have full permission to reprint this article provided this box is kept unchanged.