You’ve more than likely heard of Kevin Jones Day trading – a day trading business that teaches you the ins and outs of buying and selling short term to make a profit. But if you’ve never day traded before; you may not know where you fit in the day trading gambit.
And if you’re emotionally tied into decisions you typically make – decisions like paying your monthly bills, deciding on a contractor for your home, or buying a new car, you may wonder if you’re a fit for day trading at all.
Fortunately, Tyler Perry (Student Development Advisor) with Kevin Jones Day Trading has something to say about that.
“We have two major rules when it comes to trading. Can you follow the rules? And can you keep your emotions in check? If you can, you’ll be successful, and when you can’t you’ll have to work on one of those two rules.”
Some people never decide on where they fit because they’re “overly emotional” says Perry. “They won’t make it and we’ll probably have a conversation with them about that.”
For those who stick with the program, however, there is much to learn. Most new day traders begin at just an hour a day, learning the rules about back-testing, [taking their plan back to the past], watching the market as it moves forward, and deciding through experience what plan will work for them. Coaches are valuable during this time. Traders learn where they fit, says Perry because “not everybody trades the same.”
Day traders fall into three categories, according to Perry: Short-term or Scalpers, Mid-term, or Long-term.
Consider for a moment where you might fit.
Short-term traders or Scalpers want in and out of the market – fast. They’re not about sleeping on it or watching the market fluctuate. “They want in and out of the market in 5, 10, 15 minutes.”
“Mid-term day traders are good for a couple of hours and long-term traders don’t mind holding a position for a day.” These are the day traders that go to bed and then wake up in the morning to “see where they are” says Perry.
Whatever your style of trading, the rules of day trading must be followed – the rules you have set for yourself and the rules that are basic to day trading.
“We’re an educational company. We have our system. We have our indicators that my father wrote [Kevin Jones Sr.], and we teach people how to use the system to make better decisions with their money. We’ll help you and get you pointed in the right direction.”