please be nice, I am serious, thank you so much for taking your previous time to answer this question, or please tell me what can I do to become a master in trading . thank you .
I've got 10 years experience day trading from my desk at work on perpetration to do this during my retirement. I still have $1000 mortgage. I started with a small account and kept pumping money into it. It was a Roth IRA. It took me a good 8 of those 10 years to learn how to make my account grow. I lost several thousand in the process. But it was money and time well spent. I still have much to learn and will continue to practice and study for as long as I'll be trading.
So to be a day trader do you have to take the short position to be successful? Id imagine there are some strategies to follow. Id like to be more active, but the long position just seems more natural and comfortable to me, however the stocks i have tend to be volatile so it pains me every time i pass on profit taking and lower buy ins.
No, don't even try. Unless you have 10+ years experience with a solid track record and at least 400K cash, don't even try. You will get eaten alive and lose every penny.
Sentiment: Strong Buy
My friend. This is my experience. I used day trading all the time when I had a respectable job. But, when I was laid off (at the end of Space Shuttle), I couldn't find the job anywhere. Being veteran also, didn't help me.
So, only thing keeps me busy and alive, is daytrading. It is fun, gives me a purpose in life.
However, remember, you must be open for taking loss, but with some experience, you can bring it to a minimum. Choice is yours.
good answer, LIFE is all about chocies BUT daytrading do you know what your doing???? try it on paper first and read JIM CRAMER books like other guy said YOU can trade from work does NOT move that fast. KEEP working if your health is OK because with-out your HEALTH what good is the money going to do ya?????? BUT daytrade ZNGA NO weekly or monthly trade it, don't think we day trade the same NEVER put all your money in one sector or one stock BUT that is to me day trading
I'm trying to do some day trading "on the side". I own my own business, and am at the computer much of the day. So, I just keep a window open for trading and investigate stocks that look interesting.
It's definitely a good idea to have at least some money (50K?) to start with, as many of the trades will involve small increases in stock value (30¢-40¢ per share). So, you need to be able to buy enough shares to make the trade worthwhile. I'm also finding that you can't guess right all the time, but if you've done your homework, you shouldn't have to lose money. You might just have to wait awhile until the stock comes back. During that period, your money is "dead" and unavailable for other investments. Another reason why more money is better!
Focus on YOur business First--- Make $$$$, then use 30% profit to gamble or day-trade!
Why playing with double edge swords?.....Good Luck! Don't Let's the up & down in day-trading killed your business focus!