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Cd4e02 52d5 E7bc 1c84 87e6130da6ad Chadios BGTDT
Cd4e02 52d5 E7bc 1c84 87e6130da6ad Chadios BGTDT
BEGINNERS GUIDE
TO DAY TRADING
The perfect place to start your day trading journey.
@ C H A D I O
ABOUT ME
Allow me to introduce myself, with a touch of humour sprinkled in. My name is
Chad Epps, but you can call me "Chadio" – the trading wizard with a righteous
grin. A lot of people know me for my comedy on the internet, which is
something I truly enjoy doing, but For the past three years, I've donned my
cape and conquered the realm of day trading, harnessing its powers to unlock
a life of freedom, adventure, and yes, a few extra zeros in the bank account.
They say money can't buy happiness, but let me tell you, it can certainly buy
some good times! Thanks to day trading, I've been able to jet across the globe,
chasing the waves, scaling mountains, and eating my way through exotic
cuisines. I've also been able to buy my dream house, dream gaming setup,
and take my family and girlfriend out on nice trips. I think it's safe to say Day
Trading has definitely made my life more joyful and fulfilling, to say the least.
But it's not all serious business and charts for me. I believe in spreading
laughter and joy alongside those market gains. After all, what's life without a
little laughter? I am passionate about sharing my knowledge and insights with
others. I believe that financial empowerment is a pathway to personal growth
and fulfilment. By leveraging my expertise, I aim to empower individuals like
yourself to take control of their future and discover the possibilities that lie
within the world of day trading.
So, buckle up and join me on this rollercoaster ride of day trading. Together,
we'll navigate the financial maze, dodge the occasional market curveballs, and
have a good chuckle along the way. With a sprinkle of wit, a dash of
knowledge, and a whole lot of enthusiasm, we'll conquer the trading world. Are
you Ready?
WHAT THIS GUIDE
WILL COVER…
1
OPPORTUNITIES OF DAY TRADING
2
THE BASICS OF DAY TRADING
3
KEY TRADING DEFINITIONS
4
THE DIFFERENT TYPES OF TRADERS
5
THE RISK INVOLVED WITH DAY TRADING
6
RISK MANAGEMENT
7
ESSENTIAL TOOLS AND SOFTWARE
1
O P P O R T U N I T I E S
O F D A Y T R A D I N G
OPPORTUNITIES OF DAYTRADING
To be a true trading ninja, you gotta stay updated on the latest happenings in
the market. Certain news and events can make prices jump like a kangaroo on
a trampoline, so you need to be one step ahead at all times so you never get
caught off guard. Remember, knowledge is power, and it might just be the
difference between making it rain and making a sad trombone sound.
So, get ready to trade like a pro, my friends. Leave your black belts at home,
because in the world of day trading, it's all about mastering the charts, staying
informed, and unleashing your inner ninja trader. Lets Begin.
FOUNDATIONAL KEYTERMINOLOGY
Other important terms include: stop loss, margin, and leverage. These terms
relate to risk management and can help traders limit their losses and
maximize their profits. Heres a breakdown of what they all mean…
3
K E Y T R A D I N G
D E F I N I T I O N S
TRADING DEFINITIONS
Pips: The smallest unit of measurement in Forex trading, representing the
price movement of a currency pair. It stands for "percentage in point" or "price
interest point."
Currency pairs: In Forex trading, currencies are traded in pairs. For example,
EUR/USD represents the Euro against the US Dollar. Understanding the
different currency pairs and their symbols is important.
Liquidity: The ease with which an asset can be bought or sold without causing
significant price changes. Highly liquid markets allow for faster execution of
trades.
Bid and ask price: The bid price is the highest price buyers are willing to pay
for a security, while the ask price is the lowest price sellers are willing to
accept. The difference between the bid and ask price is called the spread.
Market order execution: An order to buy or sell at the current market price. It
ensures immediate execution but does not guarantee a specific price.
Lot Size: In forex trading, lot size means how much of a currency you buy or
sell. It tells you the amount of money you're risking in each trade. Standard lot
size is 100,000 units, but there are smaller sizes like mini and micro lots if you
have less money to invest. The size of your lot affects how much you can win
or lose in a trade, so it's important to choose it wisely.
Technical analysis: The use of historical price and volume data to analyze
market trends, patterns, and indicators to predict future price movements.
TRADING DEFINITIONS
IN FORTNITE TERMS
Yes, I literally explain trading definitions using Fortnite terms. Yes, it actually
makes sense. You're welcome.
Pips: Think of pips as the Fortnite equivalent of victory royale points. They represent
the smallest unit of measurement in trading, just like every elimination matters in the
game.
Currency pairs: Imagine currency pairs as duos or squads in Fortnite. Just like you
team up with different players, currencies also team up in pairs, such as EUR/USD or
GBP/JPY, to battle it out in the trading arena.
Volatility: Volatility is like the storm in Fortnite. It measures how wild and
unpredictable the market can be. High volatility means the storm is closing in fast,
offering more opportunities for skilled traders to make moves.
Liquidity: In Fortnite, loot chests are scattered throughout the map, allowing players to
quickly grab weapons and resources. Similarly, liquidity in trading refers to how easily
you can buy or sell assets without affecting their prices too much.
Bid and ask price: Picture the bid price as the V-Bucks players are willing to spend
to buy a specific item, while the ask price is the V-Bucks sellers demand to part with
their precious loot. The difference between the bid and ask price is like the spread
between players' desired prices.
Market order execution: A market order in trading is like a direct assault on an enemy
player in Fortnite. It's an immediate action, where you buy or sell at the current market
price without wasting a second.
Stop-loss: Think of stop-loss as your built-in Fortnite shield. It's a predetermined level
that protects you from losing too much health (or money) by automatically closing
your position if the price moves against you.
Take-profit: Take-profit is your victory dance in Fortnite. It's the price level at which you
secure your gains and celebrate your successful trade. Just like doing a dance emote
when you eliminate an opponent.
Margin: Margin trading is like having a supply drop in Fortnite. It allows you to control
larger positions with a smaller amount of capital, just as a supply drop provides you
with extra firepower and resources.
Lot Size: Lot size is equivalent to the number of materials you gather in Fortnite. It
determines how much currency you're risking in each trade, just like how many
resources you're willing to spend to build structures and defend yourself.
Technical analysis: Technical analysis is like using a recon scanner in Fortnite. You
analyze historical data, trends, and indicators to uncover valuable information about
the battlefield and make strategic moves accordingly. So, put on your trader skins,
gather your trading squad, and dive into the world of Fortnite trading. Remember, just
like in the game, practice, strategy, and a bit of luck can lead you to victory.
4
T H E D I F F E R E N T
T Y P E S O F T R A D E R S
TYPES OF TRADERS
6
M A N A G E M E N T
RISK MANAGEMENT- EXPLAINED
Ah, risk management, the superhero cape of day trading. It's all about
keeping your hard-earned cash safe and sound right? So, let's dive into the
wild world of risk and see if we can make it a little less terrifying.
First off, we have the legendary "2% rule." Picture yourself as a master juggler,
balancing your trades like flaming torches. This rule suggests that you
shouldn't risk more than 2% of your trading account on any single trade. It's
like saying, "Hey, Mr. Market, I'll play your game, but I won't bet my house on
it." By doing so, even if a trade goes haywire, your potential losses stay as
manageable as a pet hamster on a leash.
Now, here's my personal twist: I'm a wild risk-taker, and I only risk 1% per
trade. Yeah, you heard me right—1%! I mean, come on, I'd have to lose 100
trades in a row to blow my account. That's like finding a unicorn tap-dancing
on a rainbow — EXTREMELY RARE!
Trade Journal - But wait, here's the secret weapon: the Trade Journal. It's like your
trading diary, where you pour out your heart and soul after each trade. You write
down your thoughts, strategies, and even your emotional roller coaster during the
trading journey. It's like therapy for traders, helping you learn from your triumphs
and facepalm moments. It's a place to identify patterns, discover your strengths,
and improve your skills like a trading guru. And hey, you can use a spare notebook,
Google Sheets, or even PowerPoint to document your epic adventures. But if you
want to be extra fancy, check out Edgewonk.app—a website that'll make you feel
like a trading superstar.
These tools can help traders make informed decisions and stay up-to-date on
market trends and news that could impact prices
The curtain falls on this beginner's guide to day trading, packed with all the
essentials you need to kickstart your trading journey. Let's do a quick recap of
what we've covered:
We explored the exciting opportunities that day trading brings, where you can
turn your dreams into a lucrative money-filled reality. We delved into the
basics, equipping you with the knowledge to navigate the fast-paced world of
day trading like a ninja.
We demystified the jargon with key trading definitions, ensuring you're not
lost in a sea of acronyms and market buzzwords. I even defined it in Fortnite
terms for you guys. And We even introduced you to the colorful cast of traders,
from swing traders enjoying longer rides on the swing to scalpers swiftly
serving lemonade cups of profits.
And finally, we revealed the essential tools and software you need to start your
trading journey with confidence. From the trusty computer or smartphone
that accompanies you on this trading roller coaster to the Trading View
website that makes charts dance before your eyes. Oh, and don't forget
MetaTrader 4, your superhero sidekick in the world of trading platforms.
Now, as you wrap up this guide, you might be asking yourself, "Now what?"
How do you take this roadmap and apply it to your unique trading style? Fear
not, my friend! If you're ready to take your trading to the next level, I invite you
to embark on journey of some more high-level Education. I
If you're a trader who's ready to invest in guidance and elevate your trading
game, check out DAY TRADING MASTERY HERE!
Regardless of whether our paths align, it has been an absolute honor to share
my knowledge with you. Day trading is a thrilling world filled with
opportunities and challenges, and I'm confident that armed with this guide,
you'll navigate it like a true trading master.
With Love,
Chadio