Diary of a Day Trader: Is Day Trading Gambling?
Happy Investing! Your email address will not be published. Leave a comment Enter your name Enter a valid name Enter your email Enter valid email Enter security code. Why Trade Intraday? Go To Las Vegas Instead!!! Mar 30, Views Comments. Everyone wants to earn money and that too quickly. Let me tell you a best-case scenario: You wake up in the morning all excited about the money you are going to make via day-trading.
You get in front of your system sharp at am. You make a trade of Rs. This continues for the odd yearly trading days, and you happily accumulate close to Rs. Lastly, the best part is that you are now earning more than 2.
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#1: Positive Mindset
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Why I 'Seriously' Hate Day Trading » Learn To Trade The Market
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Akhilesh apr 22, at - Reply. Laxmipathi Peddi apr 22, at - Reply. And about 15 to 20 people a day are signing up for trial memberships, he said. Swing-trading sites dish out stock picks, and some have chat rooms in which head traders engage in dialogue with members about buying and selling. They preach as gospel that swing trading is inherently less risky than day trading--but still quite lucrative. The aim of day trading is to buy stocks--usually technology issues--that fluctuate wildly during the day, ride them up as little as an eighth of a point 13 cents a share and sell them, hoping to repeat the process dozens of times a day.
To turn the fractional gains on each trade into big money, day traders typically buy 1, shares or more at a time. The danger, of course, is that even a few half-point setbacks in a stock during the course of the day can mean big losses.
A common swing strategy is to seek stocks that have risen strongly recently but are now easing back on light profit taking. The central idea: Jump on board quickly if the climb resumes. And whereas day traders need sophisticated computer hook-ups to trade, swing traders generally can get by with only a basic PC and an online connection. Perhaps most important, swing traders say, they can enter so-called stop-loss orders, which are designed to contain losses by instructing a broker to automatically sell a stock if it falls to a certain level.