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At one time, most people who invested in the stock market were long term investors. Today, buy and hold or buy and hope investing is considered by many people to be a thing of the past.

For many years this kind of investing was the most common, and investors simply put their money in big name companies throughout their lifetime for the express purpose of building a large retirement account.

Currently, our economy has evolved to the extent that we now have a world wide market with factors like; up and down cycles, mergers, and stock splits that have made long term investing impossible to predict and sometimes downright risky. As a result, if you happen to retire just before a major stock split, your investments could be sitting at zero with no time left to wait for them to recover.

This caused many stock market traders to switch to day trading and/or swing trading in order to take advantage of the small and constant moves in all sectors of the market which allows them to build their accounts without any concern for the long term health of a particular stock.

Day Trader

First of all, I can not stress enough that in order to be successful at day trading you should find a mentor that has been day trading for at least 10 years and has already made the costly mistakes and been through the struggles you face as a newbie to day trading. According to the SEC: Day traders typically suffer severe financial losses in their first few weeks or months of trading, and most never graduate to profit-making status.

Yes, it is possible to get rich day trading. But not without the proper knowledge and resources. Some people do make large fortunes day trading the stock market, but not without a significant amount of time, money, work, and a great deal of preparation. The trading software alone, which is vital to a day trader, is a costly necessity and can take much time to learn and master. On the other hand, a good mentor can save you time, money and headaches.

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Swing Trader

While I still recommend using a mentor, Swing Trading is probably the best place for a novice investor to begin. Swing Trading starts with the process of finding stocks that have the likely potential to make a favorable move within a short time period. It is the most popular type of trading among traders who work from their home. Swing traders will often use a combination of technical and fundamental based analysis to find stocks with a potential short-term price momentum. (Research the internet to learn about technical and fundamental analysis if you are not familiar).

As an individual Swing Trader, you are often able to take advantage of these short-term price moves without having to compete with major Wall Street traders. This however, is not a guarantee. As is the case with all stock trading, swing trading can be risky. In fact, it is estimated that most inexperienced swing traders lose money 80 percent of the time. (Another reason why I suggest using a mentor)

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Choosing A Mentor/Chat Room

Obviously, if the markets were predictable, no one would lose money and you could do everything on your own with no outside help.

However, because timing is a key element in successful trading and a solid understanding of technical analysis and charting is absolutely necessary, your road to success will be much smoother with the aid of a mentor.

In my opinion, Jason Bond Picks might be the best stock trading chat room and mentoring service on the internet. Jason has one of the largest chat rooms on Wall Street and his members range from newbies to multimillionaires.

His library of educational videos is absolutely priceless, and his stock alerts are precise, well researched, and timely. Plus, Jason strives to help his members earn profits 1 to 4 times weekly and newcomers can test out his stock alert service at no cost!