2006-11-22 05:22:05 · 7 answers · asked by sharks 3 in Business & Finance ➔ Investing
It helps... but I guess as long as you can add positive numbers (your profit) and negative numbers (your losses), you should be able to know at the end of your first day whether you're making money or losing your shirt.
2006-11-22 12:47:58 · answer #1 · answered by Mike S 7 · 0⤊ 0⤋
Day trading is risky, be careful and read about technical analysis if you want to start.
Short term trading is often affected by technical breakouts and/or news driven event(s).
I would not risk much capital to start and make sure every trade you enter, you have a plan in place.
In other words, identify your exit price for a gain and a loss and stick to your plan.
Losing a little money keeps you in the game. Holding on to a loser can compound the problem!
2006-11-22 13:35:54 · answer #2 · answered by G M 1 · 1⤊ 0⤋
Not if you start with enough money. Lets say you have 12 million dollars to start with. If you can hold your losses to $100,000 per week or less, you could day trade for 10 years or more before you had to learn something about math.
2006-11-22 16:28:11 · answer #3 · answered by united9198 7 · 0⤊ 0⤋
Yes - but not the advanced math. Addition, subtraction, and multiplication should come easily to you, since you will be required to make snap decisions and analyze data that is constantly changing.
2006-11-22 14:56:20 · answer #4 · answered by Big Super 6 · 0⤊ 0⤋
Math is important, no matter what you do. It certainly boosts your success rate.
2006-11-22 13:25:59 · answer #5 · answered by dig4words 3 · 0⤊ 0⤋
No -- not unless you want to be a GOOD day-trader
2006-11-22 16:03:58 · answer #6 · answered by Ranto 7 · 0⤊ 0⤋
No.
2006-11-22 16:38:29 · answer #7 · answered by Anonymous · 0⤊ 1⤋