How To Be A Successful Day Trader-1

Part - I

No doubt, day-trading is really so exciting and enticing that most of the market’s participants like to do Day-Trading. 

And why to avoid Day-Trading?

If that can give fast money, no tension of carrying and caring, big money can be accumulated with very less money.

Image courtesy: PEXELS.COM

Who doesn’t want quick money? 

But the reality is that most of them only lose money. You may be one of them, if you are not, then you are really genius in this business. 

So if you’re earning sufficient money doing day-trading then this article is surely not for you and there is no need to read it more, but if you’re losing money in day-trading and trying hard to improve your trading then this article is surely for you and you should read it carefully. 

Day trading can be simple, but don’t make the mistake of thinking that it’s easy. 

Lots of stuff on the internet in the form of written text, videos, ads will try to entice and sell their product. They will try to show you that you have to just read few pages of the book or to attained their seminar, coaching classes or to buy an automatic buy/sell software, etc. etc. and the miracle is going to happen in your life. 

Don’t be fooled. 

Like any other profession, you need a solid education/ knowledge before you get started. Then you gain experience as time passes. Trading is a serious business which is done with two very easy steps – buy and sell. 

The difficult step is when to buy and when to sell? 

Which one to buy, which one to sell? 

How long to hold? 

Day trading is not for everyone. You need time to watch the market and take a quick decision. You should have the courage to book the loss when your trade goes wrong. 

Yes, in day-trading you have to be ready to book the loss to protect your capital. Remember, you are in the market only if you have money, when your money will be gone you will be out. As a trader, losses are part of our business, if you can’t accept that fact then you simply should not trade.

Continued  … in Part-II