Welcome to Day Trading
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Many day trading professionals will tell you that 2% is too much to risk on a single day trade. Day-traders can expect most markets that are good day-trading prospects over time to continue to be good prospects into the future. Each trade is an independent event. The market does not remember if you lost or made dollars the last time you traded.
The most suitable stocks to trade for day trading are high volume stocks. Risk management is crucial if you want to have any hope of becoming a successful trader. Daytraders frequently find day trading to be exciting.
You need to master the psychology of day trading. Before you can put even stellar day-trading ideas to work, you must have a way to get price data to you and your order to the floor. A day trader may sell a stock if it goes down only two or three cents.
Success at Currency Trading requires a good understanding the Basics of Currency Trading. Using the leverage of borrowed money to make profits is why many day traders lose all their money and may end up in debt as well. Day traders go bankrupt because they lose money, not because they don't make enough money.
A study in 1999 found that those day traders that made money the profits were made from just one trade. If you have an account which gets classified as a "Pattern Day Trader Account", it will require a minimum liquidating equity of $25,000. Day trading involves taking advantage of price movements in stocks within one trading day. 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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