do most day trader in the stock market go broke? if so y?

Question

i've been hearing rumors about people becoming really rich when they stay home trading. is it really true?

Answer 1

Ever watch a football, basketball, or baseball game and watch the ball make "a bad hop"? It sometimes makes or breaks a game. It sometimes makes or breaks a trader.

I don't day trade, I find regular trading too iffy than to try to make a living at it pegging big movers in the morning and selling them off at a profit at the end of the day. Even with my limited trading, there is all this good news, so you buy--but the price drops, or vice versa. There was good news recently about Gateway (GTW), so I bought and it went up, but then it started dropping, but then it started rising, but then it started dropping--big. So I sold, still at a profit but not as much as if I sold a couple of days earlier. Then, after selling, the price shot up, almost 20 cents. But there was no news, so just as I started to get back in, thinking that there was some news about to be made public, the stock then dropped, to less than I had sold it to. I came out okay, but if I was day trading, constantly on the wrong side of the guess of the direction, there was something like about five losing trades I would possibly have made to more than wipe out the one or two profitable ones. Day trading can be really, really dangerous. Regular trading is hard enough.

Answer 2

You will have no chance to successfully day-trade the markets if you don't use up to the minute charts that track the market minute by minute.

You will need to find a stock that is in an uptrend and then make an initial purchase on a break above a recent resistance point. Hold that position. If it is successful, meaning that you are not forced out on a break below your buy-point, then add more to that position on the next break above the next resistance point. At the first failure to successfully hold the break-out, sell your entire line.

Answer 3

possibly you mustn't be an afternoon dealer. powerful day procuring and promoting is all approximately seeing the quick term vogue and leaping on for the trip. it is not approximately backside fishing. an afternoon dealer would desire to be the two tender being long or being short. in case you're an beginner who basically is going long, get out now on a similar time as you nonetheless have some fairness on your account.

Answer 4

it depends what do you mean by day trader. there are some people who just don't care about their money, or just don't have enough knowledge to do so, in that case they will definitely go broke. on the other hand, i have seen very successful people who knows how to play the game, who has a lot of Patience, and mostly LUCK!!! if you have a lot of money SAVED on your account, i will definitely recommend you to do it, if not a saving account will help.

Answer 5

1) Yes.
2) Yes.