4 Day Trading Tips For Success

Do you want to find out how you can earn around $6000 daily or do you want to just continue daydreaming that the movie “Slumdog Millionaire” is your biopic waiting to happen? Well, if you want the former – a more realistic and achievable option, if you ask me – here are some helpful tips to guide you in the right direction.

Before everything else, let us discuss why we should stop daydreaming of Lady Luck ever noticing us long enough for her to bestow us with some of her bounties and start taking the initiative and work towards a bright future for ourselves. Now you see, the world today is experiencing what experts call a “global financial crisis”. This means that most people’s finances are suffering, companies are downsizing, and hundreds of jobs are being lost on a daily basis. In short, earning money nowadays just got harder than it was a few years or decades ago. I say, we should start making our own luck. Now, how do we do this? Well, one of the ways we can do this is to join the highly competitive but greatly rewarding world of day trading.

Now, while it may not be necessary that we become experts on all the jargons of day trading, it is highly important that we at least know and fully understand the basics. Now, what exactly is day trading and how does it work? Well, day trading is actually just one of the several and more specific types of stock trading. When you look up the term, you will find that stock trading is defined as the buying and selling of stocks, futures, options, or currencies in the stock market. Now, day trading can also be called stock trading because the term also means the buying and selling of stocks, futures, options, or currencies. However, in day trading, a stock trader who buys in any of the markets sells off what he or she bought within the same day. This means that a day stock trader refrains from holding the stocks he has purchased that day for a few days or even just until the next day. Some day stock traders actually prefer “scalping”, which means they sell off their stocks just minutes after they have bought them. Essentially, day trading is sort of a highly accelerated version of stock trading.

Now that we know what day trading is, let us get right down to business.

1) The first thing that anyone should do when planning to engage in any kind of trade is securing capital. This means that you should make sure that you have sufficient funds for day trading. Experts say that for day trading, you should have a capital of around $20,000 to $25,000 dollars to start with.

2) After making sure you have the capital, let us now secure the medium. Now, because day trading is quite fast-paced, it is most often done electronically, especially for those who are not professional stock traders. You can create accounts in online trading sites such http://www.etrade.com, http://www.scottrade.com, or http://www.zecco.com. Before you choose which site to sign up for, however, you should at least do some research about how the site works and what fees they might charge you with for using their site. There is nothing more annoying than having to pay for hidden fees that just might surprise the daylights out of you and dampen the joy of having earned some profit in stocks after an anxiety-ridden day of trading. Forewarned is forearmed after all.

3) After setting up your account, do some bit of research before taking the first plunge. Stock trading, for some people, may run purely on luck but then those people probably do not mind risking their money. If you do not want to gamble your capital on the off chance that you would get lucky on the first try, you should do some scouting. Observe stock trends. It would be really bad advice to buy some stocks before doing this. It would also be a big help if you try to get your hands on some stock picks. You can do this by subscribing to Jason Kelly’s Daily Day Trading Robot newsletter that he sends out through email. In the newsletters, you will be able to see which stocks are likely to bring you some profit. However, Jason Kelly is not doing the newsletter pro bono, and so you may have to allot $97 for its subscription fee. Now you may ask how Jason Kelly gets his hands on the latest stock picks every day. Well, he does that with the help of an artificial intelligence, which he calls The Day Trading Robot, that observes stock trends and calculate probabilities on which stocks are most likely to be profitable and which are most likely to leave you bankrupt.

4) If you think you have sufficiently done steps 1 to 3, then you are now ready to buy your first stocks. Now, practice a little caution when buying stocks so you don’t end up losing your capital before you even know how to properly do day trading. You should also keep in mind that going into stock trading is naturally risky and so you should not be overly cautious. Moreover, do not think that by observing stock trends and having the latest stock picks is a foolproof way of making you rich. A lot of people end up becoming extremely disappointed because they were sure that they were going to get rich in stock trading but actually did not. To save yourself from unnecessary heartaches, prepare yourself for losses as well as gains. Visit tim grittani for trading ideas.