When I was trading I made a lot of good trades knowing who to follow and who not to follow. Yet, in long run, I do not believe you can make a living doing that. The biggest problem in following other traders is being too far behind trade because you are "following" and not leading. I think each and every trader has to become very best trader he can possibly be, on his own. He needs to get there as fast as he can. Following more experienced traders can be a means to this end and can help get you started, but it cannot be end. This takes planning.

A basic trading plan will take in your long-term goals and objectives as a trader. You'll have to decide if you want to try to make a career out of trading, or just be a part time trader. Once you have decided this you can make other decisions such as how much money you would like to make at either full time or part time trading. Your money goals have to be realistic. They can't just be, "I want to make as much money as I can". These basic decisions will determine time and money you will have to commit.

Your trading plan should be on going, constantly evolving and eventually contain things like how many days, weeks, and hours you will need to trade to meet your goals. If it is as detailed as I think it should be, you would know how many trades per day and how much profit per trade you will have to average. Of course, these things will have to be developed over time and added to your plan as you go and as you gain more knowledge.

There are many excellent books on learning to day trade. My favorites are found at http://www.TraderAide.com/books

No permission is needed to reproduce an unedited copy of this article as long About The Author tag is left in tact and included. We do request that we be informed of where it is posted and reciprocal links will be considered. Email floyd@sbmag.org.

Is there anything that you can easily touch that could potentially wipe out your playlists?

The whole point of getting mp3 players is convenience and portability. If you must constantly update your playlist, then convenience factor starts dropping dramatically.

Also check out battery life. One of most constant complains about all different types of mp3 players is that they have a pretty short battery life. Of course in this industry, this basically mean after six to eight hours of continuous play.

That last factor you want to consider after you have your features is price.

Since you are looking for cheap mp3 players, it is obvious that price is as concern. However, you want to try and hold off on considering how you can pay until you see what you can get. You’d be surprised to see amount of hard drive space, for example, you can get by spending same amount of money on different brand names.

So, as you’re looking, don’t get hung up on a particular brand, or type of mp3 player. Just look around until you find one with features and functionality to fit your budget.