Jan 27 What Does A Day Trader Do? What's A Day Trader?
A day trader is someone who trades in the morning, afternoon, and sometimes evening times. Usually most trades are made when the stock market is open and day traders are able to relax after knowing that they don't have any trades sitting overnight. That means you are not swing trading, you are making your trades in the day and getting out.
That's the whole point of day trading, you are making your money through the trades that you made that day. Most day traders fail, about 90% is the statistic that floats around, that's a big percentage of traders who are not being successful in their trades. That's a tough number to swallow, that can make most people who are interested in day trading to think of it almost like a "turn off".
Why would you want to lose money when trading stocks? You are here to make money but what the 10% that does succeed knows that you need to follow proper trading strategies and have a good game-plan every morning you start day trading.
Being A Good Day Trader, Having A Good Trading Strategy
How are you going to make good trades without having a good trading plan? That's why Cyber Trading University recommends that people join the LIVE trading room and get in-touch with hundreds of day traders who are making successful trades. You want to surround yourself around day traders who are better than you because that's how you become a better day trader. Strategy is important, without a good trading strategy you are going to be making mistakes that could have been avoided in the first place. You just have to educate yourself a little with the knowledge that other day traders have accumulated over the years, be a sponge and absorb trading information!
Day Traders Are Inactive After The Stock Market Closing Hours
You don't need to sit on a stock overnight. You make your money in the morning, afternoon, or evening as a day trader. That's the whole point of being a day trader, it's called DAY trading for a reason. After you are done making your trades for the day, you can enjoy your family, do the things you love, find new hobbies, etc. That's the beautiful part about day trading and the people who succeed are usually the most coachable traders.
If Kobe Bryant wasn't trained to be as great as he was, can you imagine if he wasn't coach-able? He wouldn't have been one of the greatest of all time in the NBA but since he was coach-able, he was able to succeed and master his field. The same thing applies with day trading, you need to be coach-able to know what trades to take and what trades to avoid. The more you learn in day trading... the more you are going to avoid losing money.
Should You Become A Day Trader?
It depends. Do you want more freedom and the ability to make an income without having to break your back? Then welcome, day trading is a good job for you. You might make a good trader if you value things like more time with your family. What motivates you to learn the art of day trading? Are you actually motivated to learn how to properly trade and earn a good income? That's why we become day traders, we love the freedom and we know how to work smarter!
You can come to the LIVE trading room if you want to be a part of an online community of day traders, there are hundreds of traders that are actively successful in their trading but that really comes down to personal effort. You have to make an effort to learn what to avoid and what to pursue, that boils down to how badly you want it. There are traders who are making six figure salaries and it's because they wanted to be the best at trading.
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