Day Trading Ideas

Before venturing into day trading ideas of what it is, should be very clear in your mind. I have seen beginners jumping in to day trading to start their adventure of stock trading, with lots of hopes and dreams.

Certainly it is not for a beginner.

Am I discouraging you. NO. I am just cautioning you, so that you will learn before you start trading.

Isn't it good to learn swimming before jumping into rough water.

Day trading is a demanding venture. It demands a lot from you. Prepare yourself to meet its demand.

  • Day Trading is active
    In day trading the market is up and running. It does not stop for you to analyze, think, analyze, think, discuss and then make your decision. Markets are dynamic. You have to be thorough in technical analysis. You should be familiar with different types of chart formations. You should be ready to make instant decision, whether to buy or to sell in that instant.
  • Day Trading needs your full attention
    If you want to be day trading, then it is only day trading. You cannot do any other job along with day trading. I have seen office workers and factory workers day trade by calling the broker over the phone, once in 20 or 30 minutes. The stock prices can move several points against you in a few seconds.
  • Day Trading wants you to be in love with it
    It wants your happy, calm, cool, total, proactive attention. It does not care for your bad moods. It does not care for your bad moments, which you had with your spouse or friends, the last night. It does not care for your depression for any reason. Are you fully attentive? Are you present in the now? Are you totally alert?
  • Day Trading likes a disciplined trader
    Are you disciplined? Do you plan early and stick to your plans? Will you not get influenced by the news, friends opinions, brokers advices, etc.? Then you can do better. If you are not disciplined, market will mend you.
  • Day Trading needs a proper setup
    It needs a good high speed computer with good memory, high speed internet, reliable real time data with out delay, dependable broker (server), etc.
Though it offers many benefits it may not be for you. Have clear day trading ideas, before you start.

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