“One of my favorite trading expressions is “live to play another day”. This simple saying says so much about the mindset of a professional trader. If you survive the learning curve, then the good times will come and you can become a consistently profitable trader.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/2uuvrPW


“From when the market opens at 9: 30 a.m. until around 11: 30 a.m. New York time, is when the market will have the most trading volume and also the most volatility. This is the best time to trade and to especially focus on momentum trading”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/79m0OoM


“The majority of day traders don’t trade penny stocks or on the over-the-counter (OTC) market. Penny stocks are extremely manipulated and they do not follow any of the rules of the standard strategies. We trade real stocks. Sometimes we may be trading Facebook (ticker: FB) and sometimes we may be trading Apple (ticker: AAPL), but we will always be trading the stocks that are having a big day.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“The stocks that are gapping significantly up or down are going to be the stocks that retail traders are watching.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/7nePQix


“You just want to ensure you are trading stocks that are moving because they have a fundamental reason to move and are not just moving with the overall market conditions: Stocks in Play.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/6mZch8o


“Of the various HFT programs that are currently operating, one of the least effective is the so-called “Buy the New Low” program. When a stock reaches a new intraday low, many day traders will go short to ride the downside momentum. This program then begins to buy the shorts from those day traders to push the price higher. This causes day traders to panic and to cover their shorts. Because the organizations behind HFT programs have almost limitless buying power, the plan sounds flawless. The plan quickly breaks down, however, when another large institutional seller is behind the trade and decides to dump their large positions.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/dhNBlhx


“It is extremely important to stay away from stocks that are being heavily traded by institutional traders. As an individual retail day trader, you must stick to your retail trading territory.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/ip43QAP


“As a retail day trader, you profit from volatility in the market. If the markets are flat, you are not going to make any money; only high frequency traders make money under these circumstances. Therefore, you need to find stocks that will make quick moves to the upside or to the downside in a relatively predictable manner.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/3lxbH0E


“But if you short sell that company at $ 5 and then the price, instead of going down, starts going higher and higher, then there won’t be any limit to your loss. The price may go to $ 10, $ 20, or $ 100, and still there will be no limit to your loss. Your broker wants those shares back. Not only can you lose all of the money in your account, but your broker can also sue you for more money if you do not have sufficient funds to cover your shorts.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/67NJwwm


“Day traders can borrow shares from their broker and sell them, hoping that the price will go lower and that they can then buy those shares back at a lower price and make a profit. This is called selling short, or simply short.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/0Piolok