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Market professionals agree volatility definitely is a plus for the day-trader. Matching a method of trading with your personality is the only way you will ever feel comfortable in the markets. As the prices go up and down, the day trader must be alert as to when to sell his stock or wait for the moment to hold on it.
Day trading can be a form of gambling and any individual who is prone to a gambling addiction could be in for a long, expensive ride. Day traders should only risk money they can afford to lose. Generally, a day trader should have enough day trading capital to buy at least 1000 shares of any given stock on any particular day.
Good day traders generally sell into good news and buy on bad news. Despite the picture of investing success painted by some day trading companies' ads, far more day traders lose money than make it. Day-traders need up to date information on which to base a decision.
Many day traders make dozens of trades every market day hoping to capture profits that arise from small intraday price fluctuations. A study in 1999 found that 70% of day traders lost money. Day trading is a full time job - you need to be ready to trade whenever the market shows you a great opportunity.
You can start Day Trading with as little as $750 if you decide to trade using a spreadbetting account rather than a standard broker. Although day trading has become somewhat of a controversial phenomenon, its prevalence is undeniable. Day Trading can be very risky, so you should only trade money which you can afford to lose totally. Day trading simply means not holding any position beyond the current trading day.
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