Are you an Active Day Trader? If so, there are 2 sets of day trading rules you must be aware of. One set of rules are issued by regulatory agencies such as the SEC / FINRA / NFTA / IRS. The second set of rules are ones you establish as the foundation of your day trading business. The first set are actual laws you as a Day Trader must abide by to avoid fines, penalties or criminal charges.
Most traders find it easier to follow rules dictated by others, even when they seem arbitrary or unfair. It's not simply the fear of prosecution, it's a conditioned response we carry with us from birth. From an early age we are told what to do and when to do it. As we grow older we begin to yearn for independence, fueled by a desire to make our own decisions. Let's address the "easy" list first.REGULATORY AGENCY DAY TRADING RULES AND GUIDELINES
What is a Day Trade? (read more)
How is it that even your gardener knows 90% of Daytraders fail within the first year? Probably because he tried it and was smart enough to spend his last $200 on a weed whacker and hedge clippers. Self-discipline comes from within and for most of us, it doesn't come easy. If watching all the Karate Kid movies doesn't do the trick, welcome to the real world. (read the entire article)
Trading's Not Easy - But It Can Be Simple!
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