Currency Trading Information Channel |
|
|
|
Exploring the World of Day TradingAre you looking into a career in day trading? In the past, the tools for day trading were available only to professionals. But thanks to the power of the Internet, everything you need to get started is now conveniently online. If you have a nose for business, guts and a sharp instinct for how the market shifts, the maybe day trading is the job for you. What is day trading? Basically it is daily, online stock trading with very short investment. The individuals who do this day in and day out are called traders, not investors in the traditional sense. A day trader is someone who will buy a stock that has high volume and liquidity and will sell that same stock within a few minutes up to a few hours. Day trading happens only during the day. Those who do day trading usually stay glued in front of the computer and monitoring which stocks have a fast turnover. During the day trading, they quickly buy a large number of stocks at a time and sell it once they see the stock gain within the day. Day traders will make a purchase of a stock, hold it for only minutes watching constantly for the stock to go up or down, selling if it goes down only two or three cents and holding if it goes up to about five or six cents and selling. The stock is almost never held over night as there are many other opportunities and a stock that takes hours to move is not worth holding. Day trading can be a very high paced and stressful lifestyle. There are millions of day traders across North America but it can be a very fast way to lose everything. Some people are making over $5000.00 a day but it takes months and sometimes years to learn and master day trading. The broader meaning of the term day trading includes those who trade daily from their homes or offices, through Internet brokerages. These day traders might buy and sell stocks in minutes, but might also hold some overnight or longer. The latest buzzword for this is "swing trader," those who keep a stock within in a few days before finally selling them. To some, particularly the so-called bandits, day trading is just a numbers game. They do little research and just watch for moving stocks with good spreads. Others are more scientific about it, relying on news and technical analysis to catch everyday price fluctuations. Day trading requires a certain amount of capital. Generally, day trading should have enough trading capital to buy at least 1000 shares of any given stock on any particular day. There are very few stocks priced under $20 that have the degree of liquidity necessary to make them suitable for day trading. This means that a novice day trader should normally have day trading capital of at least $20,000 to start. In addition, the new day trader should treat this as 100% risk capital and should not have to unduly worry that the whole amount of this capital may be lost very quickly. You must also be aware that not all stocks are suitable for day trading. Day trading should never trade unlisted or thinly traded (low volume) stocks. These stocks have poor liquidity and hence a higher price volatility. This may make it hard for you to exit your day trading position quickly at a fair price. Trade only high volume, well-known stocks. Michael Sanford has a wealth of trading knowledge available at the stock market and day trading resource center.
MORE RESOURCES updated Thu. April / 25 / 2024 Yen inches closer to intervention point as BOJ meeting starts The Japan Times Prop Trading: YourPropFirm Taps Leverate to Enhance Services Finance Magnates Top 10 Forex Brokers in the World: 2024 Rankings FinanceFeeds Zimbabwe's new currency suffers chaotic start FRANCE 24 English Stock market today: Asian benchmarks mostly slide as investors focus on earnings Yakima Herald-Republic How to get started in trading forex CNN Underscored Kyriba's Quarterly Currency Impact Report: Total Currency Impact for 2023 Reached $95 Billion Yahoo Finance GBP/USD Analysis Today - 25/04: Focus on US Data (Chart) DailyForex.com Understanding the Correlation of Oil and Currency Investopedia Yen Approaches Intervention Point as BOJ Meeting Starts Yahoo Finance Where king dollar is causing pain the most Reuters.com Discover ask2bid.net: A Trusted Destination for Unbiased Insights into Crypto and Forex Trading Yahoo Finance Spotrade.net analysis: A Trusted Destination for Unbiased Insights into Crypto and Forex Trading Yahoo Finance USD/JPY Analysis Today - 25/04: Yen Hits 34 Year Low (Chart) DailyForex.com EUR/USD Analysis Today - 25/04: Euro Stabilizes (Chart) DailyForex.com Best Forex Brokers In April 2024 Bankrate.com USD/PKR Analysis Today - 25/04: Controlled Trading (Chart) DailyForex.com U.S. dollar closes higher on Taipei forex market Focus Taiwan Exclusive: India central bank's stance on underlying exposure for FX derivatives unchanged Reuters.com This Is How You Make Money Trading New York Magazine 3 Best Forex Brokers for 2024 NerdWallet Rupee edges up 1 paisa at 83.32 against US dollar BusinessLine Towards Increasing Complexity: The Evolution of the FX Market - Liberty Street Economics Liberty Street Economics - South Korea hopes currency reforms will move chunk of NDF trading to spot deliverables - Reuters.com Why Is the Forex Market Open 24 Hours a Day? Investopedia This week's short EUR/USD trading outlook IG International CHF/JPY Forecast Today 25/04: Funding Currencies War (Chart) DailyForex.com Unauthorised forex dealers duping customers: Names of 75 forex dealers on RBI’s alert list The Economic Times Forex Trading for Beginners NerdWallet China's New Currency Playbook Council on Foreign Relations How Often Do Exchange Rates Fluctuate? Investopedia Zimbabwe's new gold-backed currency sliding on black market Voice of America - VOA News US, Japan and South Korea seek to limit dollar's rise Financial Times Stock market today: Asian benchmarks trade mixed amid expectations for US rates to stay high WIAT - CBS42.com Trader's Case Tests DOJ's Policing of Global Currency Market The Wall Street Journal How can blockchain platforms make currency trading cheaper? Financial Times USD/JPY Analysis Today – 25/04: BoJ Concerns Peak (Chart) DailyForex.com USD/CAD Analysis Today - 24/04: Sentiment Re-Test (Chart) DailyForex.com Weekly Forex Forecast - 21/04 (Charts) DailyForex.com Trading Costs - Trading Charges FOREX.com
|