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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. Many day trading professionals will tell you that 2% is too much to risk on a single day trade. Many day traders make dozens of trades every market day hoping to capture profits that arise from small intraday price fluctuations.
Breakout traders like to enter the market on the breakout of a previously identified range. Once you've found a day-tradable market, you can expect the track to be stable. A day trader will rarely hold a tock overnight as there are many other opportunities and a stock that takes hours to move is not worth holding.
Good day traders do not rush into trades. 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 true day trader is a professional, who employs discipline and uses the latest in technology to execute day trading orders.
In contrast with other financial markets where you require the full deposit of the amount traded, in the Forex market you require only a margin deposit. Many day traders end up losing a lot of money because they fail to make trades that meet their own criteria. A study in 1999 found that those day traders that made money the profits were made from just one trade.
The advantages of day trading as a job are numerous. Practice your day trading using a simulated trading system before using real money. Day trading has become an online phenomenon in the last year which has resulted in manuals and courses on how to successfully day trade. Be aware that day trading does not offer the protection of an advisor who can tell you whether a particular investment is suitable to your financial goals.
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