Most people say economics, but that does not go in depth into trading and others say any thing in finance, but thats normaly banking or accounting.I found that financial mathematics is a degree to consider.Can anyone help me get on track with which degree or education is most suitable in becoming a Day Trader! Thanks!!
2007-05-23 08:24:12 · 5 answers · asked by Anonymous in Business & Finance ➔ Investing
Finance is as close as you can get, but the subject is too broad to learn how to effectively day trade. My suggestion is to read books on how to day trade and how to effectively use day trading strategies.
Some strategies you can research are:
Trend Following
Scalping
Momentum Trading
Range Trading
News Trading (buying/selling on news or anticipation thereof)
All but news trading involve some form of Technical Analysis which I would advise you to read about as well.
I would also recommend you start looking into an ECN (electronic communication network) to use as your primary trading platform.
Wiki has a lot of information you can use, but I would always recommend reading independently and doing research online. Some authors you can look up are Alexander Elder, Michael Covel, Curtis Faith and John Murphy to name a few.
2007-05-23 09:38:04 · answer #1 · answered by frost9192 1 · 0⤊ 0⤋
Sure, first, start paying off your debts, cut your spending, shop frugally and start saving your money. Start reading abt the stock market today. Read everything until you understand what PE and ROI and every other acronym means and how they all fit in. That'll take two years. Then, open a brokerage account. They're all the same for the most part. Try a few trades with five hundred bucks for a year. Don't like one brokerage, try another. Do that for a year. Do test trades so that you learn the best times to enter and exit and get a feeling for liquid market activity. You'll lose money but it'll be hundreds instead of thousands. Do that for a year, at least one or two trades every week and analyze each trade for what you did right or wrong. Then, when you think you are ready, deposit the money you've saved the past three or four years and happy hunting.
2016-05-21 00:38:45 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Finance is as close as you can get. Day trading is a relatively new phenomenon. I doubt that you will find a school or a course that will suffice. Day trading is a loser. You have to pay for every transaction you make during the day. You have to have special knowledge of a lot of companies. The last I heard, there were over 5,000 publicly traded companies in the US. I have seen some horror stories where day traders have lost everything while doing their trades. It seems to be an addiction, like gambling.
2007-05-23 08:32:32 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
I'm an engineer and I find that my many math courses have helped me in day-trading. Take a lot of math and a little bit of finance.
Also, practice being able to multiply and divide quickly in your head, at least to get an approximate answer.
2007-05-23 08:30:40 · answer #4 · answered by mikeburns55 5 · 0⤊ 0⤋
MBA (Ivy League)
2007-05-23 15:26:52 · answer #5 · answered by Anonymous · 0⤊ 1⤋