#TradingTools101 Many new traders make the mistake of beginners when using the wrong tools. Using the right day trading software and day trading tools is very important. Although a skilled trader can work with less-than-ideal tools, new traders need every advantage they can get.

That means making sure you are equipped with the best trading software, scanning software, and charting software.

I often talk about trying to ride a road bike on sand. It doesn't matter if you have a $2,000 road bike — you can't ride a road bike on sand.

If you take an old $200 beach bike with big wheels, you'll have a great time! The person on the road bike will wonder why you have a smoother ride.