Day Trading Lesson: Avoid Bird Poop
As you must be precise in Day Trading, let me define my terms. Bird Poop is simply Bullshit. But I personally like the term Bird Poop better because the term Bullshit has become overused, thus taking the edge off it's meaning. Plus Bird Poop is more descriptive because it seems this kind of stuff is just falling from the sky.
So what is Bird Poop in reference to Day Trading? It's any product you pay money for that promises to make Day Trading easy. Remember, Day Trading is Tuff, and buying expensive Bird Poop will not make it any less Tuff.
Be aware that there is a small industry out there whose purpose is to make a quick buck by promising naive people quick easy money in the market, for a price. The psychology of why it works is that people want so much for it to be so. This is an old type of scam that is not specific to Trading. For example, you can find lots of Bird Poop about getting rich quick with Real Estate investing.
That said, there are some excellent resources out there that are NOT Bird Poop. These include good Trading books and free websites. You will want to take advantage of these in your self directed Day Trading education. In fact, your entire Day Trading education need only cost you the price of a few books. Don't worry, in my next post I'll recommend a few that have real value and absolutely no Bird Poop.
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