You also need to be realistic about the time you have to devote to your trading. It s no good deciding to be an active trader and entering possibly volatile stocks if you don t have the time, the means, or the inclination to monitor the market closely. Conditions can change very quickly and you need to be quick on your feet. Don t think we re trying to discourage you from becoming an active trader. If you re still reading, then you ve obviously decided you might have what it takes mentally and emotionally to be an active trader .
Training is essential .
But you re also going to need the right tools . You ll need tools to analyse the market and help you find trading opportunities , and you ll need tools to follow the market as it s moving. There are many trading opportunities every week. You need to be able to scan the market all 3,500 stocks to find the ones that are moving. Or better still, the ones that might be about to move.