How to Day Trade for a Living PDF by Andrew Aziz

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More Information About Book:

Name of BookHow to Day Trade for a Living PDF
Name of AuthorAndrew Aziz
Language of BookEnglish
Size of Book3 MB
Total pages in Ebook222
Category of BookTrading
Source Archive


“How to Day Trade for a Living” by Andrew Aziz is a guide aimed at individuals interested in learning the ropes of day trading, specifically focusing on the retail investor perspective.

This book is a beginner’s guide to day trading, which is the practice of buying and selling stocks within the same day. The author, Andrew Aziz, is a successful day trader who shares his own experience and insights on how to become a profitable trader. He covers topics such as trading tools and platforms, risk and account management, trading strategies, trading psychology, and more.

The main goal of the book is to help readers develop the skills and mindset needed to day trade for a living. Aziz emphasizes the importance of having a trading plan, a trading journal, and a trading community. He also warns against the common pitfalls and mistakes that many traders make, such as overtrading, revenge trading, and emotional trading. He offers practical advice and tips on how to overcome these challenges and improve one’s performance.

The book is written in a clear and engaging style, with real-life examples and charts to illustrate the concepts. It is suitable for anyone who wants to learn the basics of day trading and start their own trading journey. The book is not a get-rich-quick scheme, but rather a realistic and honest guide that shows the potential and the risks of day trading.

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How Day Trading Works

In this chapter I will review many of the basics of day trading and hopefully answer your questions about what day trading is and how it works. This chapter will also introduce some of the main tools and strategies that you’ll come across later in this book. Of course, tools are of no value unless you know how to properly use them. This book will be your guide in learning how to use these tools.

Day Trading vs. Swing Trading

A compelling question to begin with is: What do you look for as a day trader?

The answer is simple. First, you’re looking for stocks that are moving in a relatively predictable manner. Secondly, you are going to trade them in one day. You will not keep any position overnight. If you buy stock in Apple (ticker: AAPL) today, for instance, you will not hold your position overnight and sell it tomorrow. If you hold onto any stock overnight, it is no longer day trading, it’s called swing trading.

Swing trading is a form of trading in which you hold stocks over a period of time, generally from one day to a few weeks. It is a completely different style of trading, and you shouldn’t use the strategies and tools that you use for day trading to do swing trading. Do you remember Rule 2, where I mentioned that day trading is a business? Swing trading is also a business, but a completely different kind of business.

The differences between swing trading and day trading are similar to the differences in owning a restaurant and owning a food delivery company. They both involve food, but they are very different: they operate with different time frames, regulations, market segments and revenue models. You should not confuse day trading with other styles of trading just because the trading involves stocks. Day traders always close their positions before the market closes.

Many traders, including myself, do both day trading and swing trading. We are aware that we are running two different businesses, and we have gone through separate educational programs for these two kinds of trading. One of the key differences between day trading and swing trading is the approach to stock picking.

I do not swing trade and day trade the same stocks. Swing traders usually look for stocks in solid companies that they know won’t lose their entire value overnight. For day trading, however, you can trade anything, including companies that will soon go bankrupt, because you don’t care what happens after the market closes. In fact, many of the companies that you will day trade are too risky to hold overnight because they might lose much of their value in that short of a period of time.

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