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    Day Trading: The Ultimate Guide to Start Making Money in the Stock Market. Learn Effective Strategies, Manage Tools and Platforms to Become a Successful Trader
    Day Trading: The Ultimate Guide to Start Making Money in the Stock Market. Learn Effective Strategies, Manage Tools and Platforms to Become a Successful Trader
    Day Trading: The Ultimate Guide to Start Making Money in the Stock Market. Learn Effective Strategies, Manage Tools and Platforms to Become a Successful Trader
    Ebook183 pages2 hours

    Day Trading: The Ultimate Guide to Start Making Money in the Stock Market. Learn Effective Strategies, Manage Tools and Platforms to Become a Successful Trader

    By Andrew Bennett

    ()

    Read preview

    About this ebook

    Are you looking for a home-based business? Are you interested in online trading, but you are afraid of losing money?

     

    If you don't know how to start your Day Trading session and you are looking for effective Trading strategies, then this Trading Guide is the right for you!

     

    This Book will teach you everything you need to start trading without paying for expensive guru courses! Learn how to become a profitable trader avoiding the main mistakes everybody makes.

     

    This step-by-step guide will explain in detail how to get started with this potentially lucrative business!

     

    This is what you will find in this fantastic Bundle:

    1. How to start in the trading market
    2. The best trading strategies
    3. How to maximize your profits

    ... and that's not all!

     

    • Successful tips and techniques to make money
    • The right trading mindset and ways to improve it
    • Trading secrets to manage risk and to avoid common mistakes 

    ...and much more!

     

    Take advantage of this Trading Guide and take control of your money!

     

    What are you waiting for? Press the Buy-Now button and get started!

    LanguageEnglish
    PublisherDouble M International Ltd
    Release dateJan 16, 2021
    ISBN9781393193128
    Day Trading: The Ultimate Guide to Start Making Money in the Stock Market. Learn Effective Strategies, Manage Tools and Platforms to Become a Successful Trader

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      Book preview

      Day Trading - Andrew Bennett

      Chapter 1: What is Day Trading?

      1.1 What is Day Trading?

      Day trading is a form of securities speculation in which a trader buys and sells a financial asset on the same trading day in such a way that all positions are shut down before the market closes to prevent uncontrollable risks & negative price gaps between the closing of one day and the opening price of the next day.

      1.2 What are the Characteristics of the Day Trader

      Professional day traders are usually well-established in the industry, many of whom sell for a living instead of hobbies. Usually, they will have an extensive understanding of the marketplace. Here are some of the required prerequisites for becoming a professional day trader.

      A Step-by-Step Guide to Better Day Trading | FinSMEs

      1.2.1 SELF MOTIVATED

      Day trading is indeed a profession that usually includes working from home. Therefore, to be successful, it is highly imperative to have personal freedom and a never-say-die mentality.

      1.2.2 Quick and decisive

      Bulls and bears are continually fighting to regulate the economy, allowing it to shift in seconds. Therefore, for you, second-guessing, deliberation, and panic might very well spell disaster. A successful day trader should have a sharp wit, constant vigilance, yet still be decisive when finding good opportunities to purchase or sell.

      1.2.3 DISCIPLINED AND Persistent

      The disadvantage of being your boss would be that you do not have someone to control your hours & how you can spend them. It is, therefore, necessary to remain committed to long working hours of analysis and planning. Define and adhere to profitable trading techniques and keep track throughout the trading sessions to be a successful day trader.

      1.2.4 Genuinely Interested & Enthusiastic

      Before having to wade into the stock markets, there will be a general tendency and passion for successful day traders’ finance or industry. Therefore, it would not seem like a difficult challenge for them to exchange stocks, goods, bonds, or other instruments regularly.

      1.2.5 Open to Attempt new things

      Good day traders will actively aim to enhance their trading methods & try to innovate their tactics from the latest insights learned daily.

      1.2.6 Tech literate

      Not to the extent of Zuckerberg’s proficiency, the new and sophisticated trading systems should be familiar to the good day traders. They will also be able to try out & take advantage of recently launched platforms’ future benefits.

      After all a man is a social being. Rarely would a strong trader be a loner and enjoy a stable network of loyal friends and relatives. Several successful day traders also have a strong interest and devote a great deal of time to hobbies & ventures.

      1.2.7 Marketplace awareness and experience

      Individuals who want to trade without an awareness of the dynamics of the market frequently risk capital. For a day trader, technical analysis & chart reading also are valuable skills to have. But charts can be deceiving without a better in-depth understanding of the business you are in and the assets that remain in that market. Do your due diligence to know the real ins and outs of the commodities that you trade. Best-day traders can naturally grasp the factors that influence the stock price moves and be familiar with the instruments in the arsenal of a modern trader, including online trading platform & system.

      1.2.8 Enough Capital

      Day traders only use capital that they might afford to waste. This saves them not only from economic ruin but also helps to remove emotion from the trading. To adequately leverage on intraday market movements, a significant amount of capital is always required. It is also important to have access to a margin account as unpredictable fluctuations will cause margin calls on very short notice. In relieving the tension involved in day trading, having a financial buffer plays a significant part. You do not have to be Warren Buffet Rich, but you should have ample funds during selling so that you might manage to lose a bit. Since encountering some losses in day trading, you should not have to tap into your leasing income or grocery money.

      1.2.9 Strategy

      Against the remainder of the business, a trader needs an advantage. Day traders use many distinct techniques, including arbitrage, swing trading, and trading news. Such methods are optimized before consistent profits are made, and losses are essentially reduced.

      1.2.10 Discipline

      Without discipline, a profitable strategy is futile. Since they struggle to make trades that suit their standards, many day traders suffer the loss of money. As they state,’ Plan the trade & trade the plan.’ Without discipline, progress is unlikely. To prosper, day traders depend heavily on market volatility. If it changes a lot during the day, a stock might be appealing to a day trader. This may be because of various factors, like a study on profits, the mood of consumers, and even general economic or business news.

      Day traders prefer highly liquid stocks because they alter their position without changing the stock price. If a stock price rises, a buying position can be taken by traders. A trader can plan to short-sell if the price goes down, so they can benefit as it falls. They typically aim to sell a stock that changes (a lot), irrespective of what strategy a day trader employs.

      1.3 Difference between long and short trade

      The phrases long and short apply to how trade was started, by buying first or selling first to stock market trading. A long trade is begun by buying to sell at a better price in the future and make a profit. A short trade is started to repurchase the stock at a cheaper price and profit by selling before buying.   

      Short Selling Stocks to Increase Your Profits | Wealth Within

      1.3.1 The Long Trades

      A day trader is in a long trade when he bought an asset and is awaiting to sell whenever the price goes up. Day traders will also use the words buy and long derogatorily.

      Likewise, many trading software has a buy trade entry button, while some have a long trade entry button. The phrase is also used to define any open position, such as l am long Apple," which means that the trader holds Apple Inc. shares.

      To show their interest in purchasing a specific commodity, traders sometimes say they are go long or even going long If a person goes long at $10 on 1,000 XYZ stock shares, the trade saves almost $10,000. He will earn $10,200 and gain a $200 profit, excluding fees, if he is willing to sell the stock at $10.20.  When going long, this is the ideal outcome.

      Your benefit opportunity is infinite if you go long because the price of that asset will increase continuously. The stock can go to 2$, 5$, 50$, 100$, etc., if a person buys 100 stock shares at $1, while day traders usually trade for much smaller movements.

      The flipside to an improvement in price is a decrease. You earn $9,900 back for your $10,000 trade if you sell the shares at $9.90. You almost lose $100, including the expense of commission.

      In this case, the greatest loss possible is when the share price falls to $0, resulting in a loss per share of $1. To prevent major price declines, day traders work hard to keep the risk and profitability under close control, usually exacting profits from several minor moves.

      1.3.2. Short Trades

      For most novice traders, shortening a stock is confusing because we usually have to buy anything to sell it in the real world. Until buying them, day traders in short trading sell assets and expect that the price will go down. If the prices they charge are better than the price they traded for, they make a profit. You can buy and then sell in the financial markets or sell and then buy.

      Day traders also interchangeably use the words sell and short Similarly, many trading software has a sell trade entry option, and many have a short. trade entry option. The word short is also used to identify an open spot, as in I am short SPY, which means that the seller has a short S&P 500 (SPY) ETF position. Traders frequently say I’m going short or go short" to show their interest (attempting to sell something they don’t have)

      Related to the case of going long, you get $10,000 in your account when you go short against 1,000 shares of XYZ stock for $10, but this is not your capital yet. Your account would show that you have -1,000 shares, and by acquiring at least 1,000 shares, you should get the balance back to zero at some point. You may not know whatever the profit or cost of the position is till you do so.

      You can pay $9,600 for 1,000 shares if you buy your shares at $9.60. When you initially went short, you got $10,000,

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