The truth about day trading
The First Art Newspaper on the Net    Established in 1996 Sunday, July 21, 2024

The truth about day trading

Do people actually make money day trading, and can it be done consistently? To answer this question we must first, define what day trading is. Day trading can be defined as taking and exiting a position in the stock market within the same day, or intraday. In order to do this one must enter into a position any time after the market opens at 9:30 am and exit such position any time before the market closes at 4:30 pm. Most people see day traders as risky investors because most trades are done within minutes. But whether they are more or less risky, that is the next thing we are going to cover.

How risky is day trading?
Day trading can be very risky if one does not know much about it. Most see it as a risky investment because like stated above, the trade can be done within minutes. But in reality, day trading can be very safe if one has a good foundation and an even better day trading education. This can be learned from day trading courses, where all the basics of day trading can be learned.

Now, in regard to how risky it actually is, some people would argue that day trading is safer because you have more control of what is going on in the market. Meaning, that in a day trade, the trader taking the position has a plan in place and it's usually watching that plan unfold before his eyes. Some say this is safer because they can control how much money they lose if the trade goes against them by exiting the position early. Whereas long-term investors, are fully at the mercy of the market and what it wants to do, and if one is not paying attention to their investment, they can lose a lot of money. But being completely honest, a large portion of traders lose money trading and that is because they lack education in it.

Who actually make money day trading?
The people who actually make money day trading, are those who actually study and learn about day trading. Many start a free day trading course to get their feet wet, then they move into more advanced courses. But most people actually lose money day trading because they lack the proper education and simply grab their money and throw it into a stock. Not having a plan or a strategy in mind of what to do. Successful traders, spend hours studying and planning their trades to make sure they put themselves in the best position possible.

The truth is, yes, profitable day traders exist, and many of them make a very good living off just trading daily. But they are profitable because they study and learn about the stock market and how it behaves. This is what separates the profitable day traders from the nonprofitable ones, a lot of studying and learning about risk management and how to manage it. But most importantly how to make a day trading plan and how to follow it.

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