Day Trading for a Living - How lucrative it is?

Day Trading for a Living - How lucrative it is?

Have you ever thought about becoming a day trader? Is day trading for a living a lucrative field? What about the risk that is associated with day trading?

If you are at all interested in becoming a day trader and day trading for a living, then read on. There is a lot of information out there for day trading. Everybody has their own formulas and everybody will want to give you advice. Some of this advice will be worth it and some will not.

Let me be the first to give you some advice. Make sure you feel comfortable with your investments and make sure that you trust your gut instinct. Do not risk more money than you can afford to lose, at first, just to be safe. Take your time building up your portfolio and give yourself time to learn the trade.

This is a very lucrative field and there are many millionaires that have made their money by trading stocks, currency, bonds, and investing in mutual funds. The most successful day traders have a strong balance between short term investments and long term investments.

There are a few risks to consider before you start investing. There is always the possibility of losing money, and most successful day traders make mistakes and lose money at some point. It is a numbers game. You have to have strong long term investments that are going to produce nice gains over a 10 year period.

You will also want to have strong short term investments, but allow for some chance and mistake in this area. So what if you lose a few dollars in one short term investment, the next one might be the one that you triple your money on. As long as you come out ahead in the end you will be successful.

by Benjamin Ehinger