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You Too Can Earn Residual Income Day Trading

April 22, 2012 by: 0

Day trading simply refers to traders that buy and sell stocks within the same day. Sometimes the asset can just be held for a few seconds or for a few hours. This is done with the hope that the value of those stocks will increase or fall within the short period that they are held and they will make quick profits. This is a trading method that is associated with a lot of risks but you can easily make a lot of money if you know what you are doing. There are several people who make money online through day trading.

Making profits with day trading

This method of purchasing and selling stocks within a very short interval of time can easily create great profits for the day trader. On the other hand it can also lead to losses. Over 80% of day traders lose money at the end of a regular trading day. This method of trading has however continued to increase in popularity because there is now easier access to the internet. People are always attracted to any strategy that can help them to make huge profits within a few minutes or hours. It used to be a method that was used only by professional traders and financial firms but it is now commonly practiced by a lot of ordinary traders.

Becoming a day trader

You need to register with an online broker before you can start to make money day trading online. You are a day trader if you place round-trip orders four or more times within five days. The total trading activity should also be over six percent of the total value of the shares that you own. Because of this large turnover, brokerage fees are usually lower for day traders.

You need knowledge

In order to reduce your risks with this type of trading, you have to acquire as much knowledge as you can. The more knowledgeable and experienced you are, the better you will be at making the right decisions. Do not just throw money into the market without knowing what you are doing. Take some time to gather all the information you can before putting your money into the market.

You must be vigilant

Making money with day trading online requires vigilance in monitoring stock news, prices and trends if you want to be successful. If you take time to learn the basics of the market, it will be easier for you to know the strategies to use, the signals to look for and when to buy and sell particular stocks.

It is possible to make a lot of profit through day trading online. You stand a better chance to succeed if you have regular access to information about the stocks that you are interested in. You also have to learn how to correctly interpret the information that you get every day. Day trading online can easily become profitable for you but you must be ready to stay abreast of the happenings of the market so that you can make the right trading choices from day to day.


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