Welcome to Day Trading
Become Day Trader Article
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By definition, day-traders liquidate any open positions at the close; they don't have the luxury of waiting to see if tomorrow brings the expected price move. There is no fool-proof daytrading system, but some are better than others. Daytrading brokers agree that 90% of traders end up losing money, 5% of traders end up at break even and only 5% of them achieve consistent profitable results.
Everything you need to get started in day trading is usually available online. Day trading is an investment tactic that does online daily stock trading with a relatively short investment. Don't believe any claims that trumpet the easy profits of day trading.
Good day traders generally sell into good news and buy on bad news. Relying on out of date information to base your day trading decisions will result in poor trades. Day trading is just a numbers game.
Day trading has come to be synonymous with the trend for private investors to abandon their normal jobs, spend a few thousand pounds on a computer, some software and a data feed, and trade the markets for a living. Day trading, the business of trying to make money by buying and selling stocks for oneself throught the day, is an extremely risky business. Did you know that a successful trader can lose money on 9 out of 10 trades and still make money?
Trading successfully requires time, market knowledge and market understanding. Day-trading is a very serious business; if you don't have all the right ingredients in place before you begin trading, you're can lose big time. Decide each day how much you are willing to risk in your day trading endeavours and stick to it. By definition, day-trading means you exit at the end of the day, so your profits must at least cover your commissions and slippage.
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