I am thinking about day trading how lucrative is it .. how complicated is it?

Answer 1

Very complicated, very stressful and can be lucritive if you are good at it. I would recomment you play a simulation first to see how good you are at it. Also think about the tax system you will use before you start, or else you will find yourself trying to match thousands of trade tickets next year.

Answer 2

Very easy especially in the bull run we have at the moment.
Every Tom, Dick and Mary is climbing into the market. 200,000 new accounts a day, in China alone where you can double your money in a year.

I started with no knowledge and in my first year made 42%.
The second year 87%, the 3rd year 83%. It's my fourth year now and I am up 22% since 1st March.

Made many mistakes along the way but I could do no wrong as I climbed into a bull market. Everything went up. When the market correction occured (10% or more) I bought some more. I invest in the South African market called the JSE.
Although, my returns are good, I would have done better had I held onto some shares, longer. eg platinum shares (thank you Northam and Anglo Platinum) went up 5 fold in 2 years, gold went up (thank you Harmony and Goldfield) 3 fold, etc etc. The South African stock market is on a four year bull run and set to continue. I don't care if it crashes, I have made my money over and over again. I'll just buy into the market again.

The key is, don't gamble with other people's money. In other words, settle your debt, first before investing your own money.

Good Luck and come invest in South Africa.
Here's a tip: buy Telkom (TKG), they are about to declare a massive dividend after yet another record earnings year.

telkom stock is available on the NYSE

Answer 3

If it was easy everyone would be doing it. You'll be trading against some of the smartest professionals in the world.

Don't even think of starting until you fully understand how hard it is.

Read some basic books on investing and then move to;
Trading For A Living (Elder)
Technical Analysis Of The Financial Markets (Murphy)

40% of your success will be picking the right stocks. 60% will be the correct money management techniques. Always remember: It's more important not lose money than it is to make money (if you think that's ridiculous or just cute, don't bother day trading).

BTW: Hopefully you have years of investing experience behind you. I'd suggest doing "swing trading" first.

Answer 4

Here are some good (free) videos of a guy day trading:

http://www.daytradingfreedom.com/videos

Those should give you a good idea of what's involved, and how much you can make (a lot by the look of it!)

Good luck,

SJ

Answer 5

If you have to ask either one of those questions you're not even close to being ready...