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If you decide to engage in day trading for a living then this can be a very profitable venture for you. If you are considering day trading to make a living, you should be prepared emotionally to handle the good as well as the bad days.Your bank account should also be able to support your ability to leverage enough money to stay afloat until you start to rake in the profits. As a day trader you need to understand how the margin accounts work, how much time they will have to meet a margin call and the potential for overextending your credit beyond what you can afford to lose. Apart from the fact that you can lose money quickly on a bad trade, day trading can be quite expensive since the trader will pay the spread multiple times throughout the day and incur multiple commissions. Even experienced traders do incur losses but they bounce back stronger than ever and that is the key to success.If you want to indulge in day trading for a living by all means go for it. Perhaps the allure is best summed up by something Eric Bolling wrote a few years back in a piece entitled The Benefits of Trading….


My goal in this series is to inform you of what I know and what I lived, what I did right and what I did terribly wrong, so that you can, with complete lucidity and of your own volition, decide if taking this step is right for you. What I will not be doing in this series is telling how to become a successful trader; there is enough information, free or otherwise, out there that deals with that topic (including about 400+ posts on this very blog), and frankly, at the end of the day that is a job that ultimately you can only do yourself.
Borrowing cash is commonly used by day traders in the hopes that the profits will increase through the leverage.
Platform for millions trading options trading forex college the best traders use binary trading binary signals just one should you can really quit your better. One was from a gentleman whose day job was in financial services, but had been trading part-time for thirteen years. But with diligent homework, a desire to make it work and a definitive fear of losing, almost anyone can make a career out of trading — anyone with the discipline to cut a losing trade that is.


Do not use money that you use for your daily living or money you have saved up for your retirement as no matter the kind of experience you have, day trading is still a gamble. Try to stay positive even when you make a loss and do more research to make better trading decisions instead of giving up. Questions like: What KIND of trading is better to start with, what are some basic rules to follow, how do you become good at trading, how risky are the different types of trading, etc.



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Author: admin | 06.02.2014 | Category: Stock Traders


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