Hod do you learn to become a day trader? Can you really make alot of money trading stocks?

Question

Is it possible to trade stocks online and make an obsene amount of money as a day trader? How do you learn to do this? How much does it cost?

Answer 1

Go try Forex, it's the biggest market in the world traded by about all countries. Search google for more information. It's also unknown to most because it started in the 1970s and gained public on 1990 or something like that. Most brokerages has demo accounts where you can actually practice. Anyway....follow these rules and you should be fine.

1. Have descent trading system...Simpler the better.
2. Risk 1-3% of your account for each trade..

3. Money management.
4. Money management.
5. Money management
6. Money management.
7. Money management.
8. Money management.
9. Money management.
10. Money management.

The reason people fail because they don't follow these simple rules and are toooo greedy. Like myself :P but I'll be sure to come back and follow.

Answer 2

This Site Might Help You.

RE:
Hod do you learn to become a day trader? Can you really make alot of money trading stocks?
Is it possible to trade stocks online and make an obsene amount of money as a day trader? How do you learn to do this? How much does it cost?

Answer 3

People come to daytrading with the concept that all you have to do is sit in front of a terminal and buy/sell the stocks or currencies and make a great amount of money. Unfortunately, its not the case. It takes time study and dedication to be a Master Daytrader and you cannot expect to be one by reading a couple of books, attending a seminar or fancy software. Its not surprising how many of the people marketing and selling this stuff are not even trading themselves and are not successful at it.

Leave it to the pros, get your feet wet by learning the basics, trading longer term, swing trading and then Daytrading. Most beginners have got it the reverse way.
Another option would be to get your money managed, while you learn on a simulator. If you want to know the failure rate, I would say 90%.
Dont get caught up in the fancy notions that its so easy to be a daytrader and make obscene amounts of money. If that were true, it would be raining millionaires.

Answer 4

Get into that path only in 2 situations:

1. You have decided that self annihilation without suicide is the reason why you were brought on this planet. OR

2. You have been following the market for at least 2 years, with at least 1 year under another day trader as a trainee, and know the cycles of the market and the individual stocks.

Don't try to do an uppity degree/course and consider yourself the czar of the market.. that market is bigger than any czar's brain.

Answer 5

1) Go to College and study Finance or Economy.
2) Get an MBA
3) Work for a Financial Institution for at least a decade.
4) Save at least $25,000.00 USD to open a brokerage account.

Yes, you can really make a lot of money trading stocks.

Answer 6

Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/4ed13

Answer 7

First lesson..
Trade for the Trade... NOT for the P&L..
trade has to be good and backed with a good reason... MONEY would automatically come.. IT has to come..

you can mail me at [e-mail] if you would like to learn how to day trade US stock markets(NYSE)..

http://us.geocities.com/kgirishraman/index.html

Girish

Answer 8

Wow, mebigez, these are all good answers, and they are sincere ! !