Showing posts with label day trading sites. Show all posts
Showing posts with label day trading sites. Show all posts

WHAT IS DAY TRADING

WHAT IS DAY TRADING




Day trading is the practice of buying and selling financial instruments throughout the day. As the day progresses, prices will rise and fall in value, creating both the opportunity for gain and the possibility of loss.


At 10:15am, a day trader might sell 1,000 shares of Apple.com’s stocks just as the price begins to down on bad news, and then buy it at 10:25am, when it's up by $1 per share.


In this example, the day trader makes $1,000, minus commission. With today's cheap commissions of $10 or less per trade, that's a quick $990 in just 10 minutes! When traded strategically, the trends and fluctuations in the markets allow for quick profits to be made in brief periods of time. Keep in mind, however, that day trading is specifically designed to result in smaller earnings on a regular basis; it is NOT designed to result in huge fortunes through a single trade.



Day trading can be very profitable, but it isn’t a get-rich-quick scheme (though many seminars convincingly sell it as such). Nor is day trading a sure road to immeasurable wealth and success (as some hyped-up websites would have you believe).


Quite simply, day trading is just like any other business venture: in order to be successful at it, you need to have a PLAN. It would be very risky to dive in head-first without looking. However, with the right tools – and with the knowledge to use those tools efficiently and effectively – the risks of day trading can be greatly reduced. With perseverance and commitment, you CAN find trading success


Day trading is not for everyone. Yes, there are many advantages, but there are also some “negative” factors. One of them is that you WILL face losses. As a trader, losses are part of our business. If you can’t accept that fact, you simply shouldn’t trade.



And you need a PLAN:
 
Traders who enjoy the most success in day trading, regardless of whether they’re in it for a living or for some extra income on the side, generally have solid trading strategies and the discipline to stick to their trading plan.


Keep in mind that day trading is a very competitive field. In order to succeed, you need to maintain focus on a set of strategies which you can implement immediately, without hesitation. Remember, a proven, strategic trading plan can give you an edge over the rest of the market. Unfortunately, even with a tested, proven trading strategy, you are not guaranteed trading success. It takes something else. It takes discipline. A profitable strategy is useless without discipline. Successful day traders must have the discipline to follow their system rigorously, because they know that only trades which are indicated by that system have the highest probability of resulting in a profit.Whether you’re new to trading or have been trading for years, it’s all too tempting to place the entirety of your trust in graphs, charts, and software. If only trading was as easy as that!

Have a Positive Attitude :

Trading can be simple, but it is not easy. Along the line, you will face losses, but you need to get up every single morning believing in you, your strategy, and WINNING. Have you ever heard of “The Law of Attraction?” Basically, it states that in order to achieve success, you need to focus and concentrate on attaining
that success. And the opposite applies too: if you focus on the negative – on losses – then you’ll probably experience losses. It's extremely important that you ARE positive and that you STAY positive.

 Be Committed :

Trading success will not happen overnight. It requires commitment, time, and effort on your part. There are already too many “traders” in the market who think they know everything they need to, who think they don’t have to learn anything; they believe a “magic system” will place their trades for them and make them rich. You and I know that this is a sure path to failure.Trading is like every other profession: you learn the basics, you apply them, you gain experience and then you refine your trading. The learning never stops. Do you really expect to make millions of dollars after only investing a few hours of time into your education? You wouldn’t trust a doctor whose only education
was from free, downloaded Internet eBooks, would you?



There’s no doubt about it: day trading can be a profitable and exciting way to earn money. With the right knowledge, you can radically reduce the risk, which will create even more opportunities for achieving trading success. If you’re not willing to spend the time learning the techniques of trading, reading about new and improved trading strategies, and working whole- heartedly in a fast-paced trading environment, then day trading is probably not for you. However, if you have the drive, dedication, and discipline, day trading could seriously impact the shape and success of your financial future.
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