Feb 19 2012

Day Trade

Posted by admin in day trading

day trade
do you need a special account to day trade?

If i have a regular account with $6000 in it will I be able to trade in the same day more than 3 times in 5 business days? If I can’t then that is not fair because I need to make money with day trading right now. What is the point of these random sec regulations. And will i need to get more money to open up a day trader’s account.

Your statement: “I need to make money with day trading right now” is typical of someone that has no clue how hard day trading is. 95% of the people that try day trading lose. Many lose 50% or more of their accounts in a very short period of time. It just looks so easy. They assume everyone else is an idiot… because they’ll make a living from this…. in the first month.

A good day trader usually only gets 40% – 55% of their trades as profitable. 40%- 55% is good.
If you don’t understand this basic concept….. you’re doomed to failure. Day Trading involves a good understanding (also) of technical analysis. If you don’t have a “set-up’ based on good technical analysis you might as well quit before you start.

In short… it took me three years to really be profitable in day trading. That’s after 35+ years of being successful as a position trader and a few years swing trading (it seems that swing trading would be a better place for you to start).

BTW: Very few successful day traders make more than 50% a year. So based on your account balance. If you do really well… you’ll make $3,000 this year. Is that enough to live on?

Introduction to “How To Day Trade”


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