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Some investors can become addicted to day trading. Go to seminars on day trading, use simulations if possible and practice reading market indicators. Day-trading's time has come with the advent of intraday quotes and software availability.
The market indicators displayed on tv or shown via the internet are often the best means to know about the market trend for the day.
Your expectations of day trading must be realistic. Generally, a day trader should have enough day trading capital to buy at least 1000 shares of any given stock on any particular day.
Only you can decide if you have what it takes to be a successful day trader. Some of the more commonly day-traded financial instruments are stocks, stock options, currencies, and a host of futures contracts such as equity index futures, interest-rate futures, and commodity futures. A very simple formula for stock market success is to risk less than 3% of your total account value on a single trade.
Forex day trading is a 2.5 trillion dollars daily business and it is larger than all the stock trading in the world combined. If you have limited time to trade, you should consider swing trading instead of day trading. Did you know that a successful trader can lose money on 9 out of 10 trades and still make money?
Day trading is a location-independent activity. Most day traders who trade for a living work for a large institution. Day trading is like running any other kind of business. It requires planning and expertize. If you want to day trade for a living, not only must you make good money, but you must avoid losing money.
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