What is Day Trading?

What is Day Trading after all?

In many parts of the world the term “Day Trading” is not yet widespread, and therefore few people are familiar with day trading as it is and its nuances. If you are also a beginner with this new practice and want to know more about day trading what it is and how it works, know that there are several tools to help you.

Real or demo account, it is always from training and to understand what day trading is that you need to start. As always, you must learn study! As much as possible! In the day trading books or with other readings (you will find many online). But if you really want to understand what day trading is, take an online trading course.

Start with demo accounts (here you can find our list with the best rated companies you can start with demo account for FREE) and then test what you have learned about day or swing trading.
If you do not know how to do day trading or even worse what day trading is by operating in demo, you start to get an idea of the platform and the functionality of the broker with this approach, as well as seeing how much you would theoretically make in net earnings.

Establish your strategy before starting

Losing money scares people and leads them to make bad decisions, but you will lose and then regain, it’s part of the market mechanism, you just have to be persistent. And be patient.

Look for opportunities that meet the strategies designed only so even in day trading earnings will come and you will have even more fun. If the situation doesn’t apply to your strategy, don’t trade.
You do not have to do day or swing trading if the parameters of your strategy are not respected, but this also applies to the multi day trading. Read read read everything and continuously watch what is happening in the markets.

Read Also: 5 Trading Tactics You Need to Know 

The big news, even unrelated to your investments, could change the entire tenor of the market, shifting your day or swing trading positions. There is nothing more exciting than day trading. I am not speaking only of earnings, but of this specific trading activity. Yet even for this, especially if you are starting out, I want to give you some tips for day trading.

5 essential tips for successful day trading

1. Never stop studying day trading (also in general) It seems obvious to you, right? Well no, and I’ll show you why right away.

– What is day trading?
– Day trading is mostly the 2 P’s:

• Practice
• and Psychology

It is a human path of growth. As such, human beings never stop evolving and never stop acquiring new information, they maintain a healthy evolution over time. In trading it is the same thing indeed it is just that, the beauty is to discover that the secret is not a secret, now let’s go into detail. Imagine that you have learned or learned an operational strategy and have finally made it yours, but as in all moments there may be losses and the setup does not make you feel as comfortable as before. Maybe the market has changed, or it’s not your best time, really anything can happen. Well, here the study comes to your rescue, if you have the training you always have a way out, technical or psychological.

On the markets, the important thing is to survive and to survive you have to study, not once, not twice, but countless times, you always have to study and that is why day trading is very fascinating.
The study creates new methodologies, new data, new statistics in day trading and trading in general and gives the opportunity to get to know each other in depth. You could study a reversal strategy and then discover a trend following.

Trading is a process of creating your own dress and training is your fabric shop !!
You must always be curious, only in this way can you always have an emergency exit ready at any time.

2. Don’t follow rumours or “trading gurus”

How many times have you done an operation, perhaps long, and read a sentence on your trusted forum such as:

Guys, I’m short, soon collapses because the XY indicator is skyrocketing …

I know many times, probably too many. I am here to literally tell you to always and only follow your trading plan. In your day trading observe the market and its dynamics and respect your initial ideas and risk management.

Remember that in the same title, in the same direction, many can lose and others can gain because it is their own strategy rules that make the difference with the crowd.
Avoid those fake training advertisements, in the form of trading signals that so many brokers do.
Often it’s just for the purpose of getting you to open a toy account for you to smell the easy money and pluck you.

If you are in a trading room, perhaps avoid being influenced by the day trader “bench mate” who may not be trained or know absolutely nothing about trading or simply have a different view of the market.

Remember that no view is absolutely wrong. The market is irrational and the certainty cannot be 100%. Finally, please, avoid building a day trading plan based on someone else’s idea. Even if this may seem similar to the operation or more logical than yours at the moment, it is still not a training attitude that can lead you to improve. Better to take your time and invest in an online trading course and try your strategy.

3. Day trading for beginners: Open a demo account (you can check our list of best rated brokers here)

After training or towards the end of your online trading course, opening a demo account is by far the most important step to take. It allows you to create and consolidate your trading routine and at the same time not take huge losses that can psychologically damage your trading path.

Plus you can open it and continue to test what you learn during your online day trading course.
You have to find your trading style after you understand what day trading is, here you can learn more: How does day trading work? You need to have your formal dress that fits perfectly and still makes you feel comfortable in your trading business.

To open a demo account you don’t necessarily need to open an account with a broker, but there are simple low-cost or even free platforms that allow you to do demos without too much effort.
Remember that what you will pay at the beginning of your career in terms of commissions or subscriptions is not money wasted, but it is the investment for your entrepreneurial activity and not to mention the costs of training in an online trading course.

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In this you also read the online opinions and you will see that they will give you reason for the importance of following one or more online trading courses to see many basic steps in practice.
In trading you are your own entrepreneur and as such you have to invest, believe in it and take risks, if you do well you will certainly be rewarded and much more than you expect.

The market does not punish, it just redistributes

4. Keep a diary of your day trading

You will surely have understood that technique and emotions in day trading are not on par or better: technique weighs at 20% and psychology at 80% and hold on tight … emotions cannot be eliminated!

– Can they be controlled?
– No…

You can only monitor them through math, math in day trading translates into keeping accuracy and risk-return ratio under control.These are the main data that can be monitored through a simple day trading diary. There are different types, from the simplest as it can be an excel sheet to the most complex and elaborate that can really give you an excellent statistical monitoring experience.
In our training courses this is an absolutely essential part on which we support all our day traders.
Now you will finally understand what is the connection between trading and psychology: statistics.

Accepting a loss must become the acceptance of a part of the statistics, a system to be successful must first of all know how to contain losses. This is what the trader must do, take risks to obtain opportunities, but know how to protect himself with statistics when the market is not on our side, accepting it as an essential component of the path. Do you want to make real profits in a simplified and replicable way, avoiding the most common mistakes, with Day Trading?

5. Stay with a community that knows what day trading is

At the beginning of your study or career in day trading it is important to have a community, but not just any community!

Let’s see some reasons why it is essential to have a community at the beginning of day trading

• Share statistics
• To share moods
• Share any strategic approaches

Sharing … here is the secret, sharing the first moods and your day trading helps to develop a sense of normality within the feelings that have a profound impact on day trading. Imagine this is your first month of trading and you are in profit, you tell the community. You are euphoric and the other day traders maybe more experienced or a little further on make you understand that it is normal and you must in a sense “fly low” and remain humble and impassive.

Or the reverse situation

Maybe you lose and want to give up everything, but you don’t do it because you like it and in the end it is the trading that has chosen you and you cannot give up everything at the first obstacle.
The other day traders here will be really helpful because they will always have some ideas or solutions to share. Sharing statistics and comparing by talking about data and not about gains or losses is one of the first important steps to understand in day trading.

The community of trained or more experienced traders than you is of great help, both in understanding what a particular indicator is in your day trading or whether or not to open a position.

But also for the moods

These must be shared to throw out the negativity, perhaps of a loss, or download the euphoria of a gain and purify the soul of the emotions that then take away the lucidity of the market.
If your trading strategy needs a revised or a check, perhaps from the point of view of risk management or the type of incoming order, also in this case the community can give you excellent food for thought and growth.

Of course, be careful which community you choose.

Look for a community with certified senior traders with visible day trading results that explain what they do, how they do it, and why they do it.Finding yourself in a community where there is everything and the first improvised day trader who finds himself in gain is king can ruin you in an instant!

Keep in mind these 5 essential tips to become a successful day trader.

I highly recommend them all because they help you to overcome all the stages of day trading in a simple way. I hope I have helped you and removed some doubts on your path to daytrading.

The ultimate strategy for starting day trading for beginners

“Why pay for a course?”

– I load 1000 dollars with my card on the “X broker”.

– I put everything on oil because that guy I saw on YouTube, and said “investing in oil it’s good”.
“I trust him, he looks nice.”

– Do I have to tell you the end? How much do you think a day trader earns like this?

So to reconnect to the main question: “How much does a day trader earn per month?”

The answer is it depends.

There are traders who manage to make hundreds, thousands of dollars a day, and some even more. But wait, before you go crazy and wonder how you can make all that money a day, finish listening to the whole story. Day trading is not an employee job, you don’t have a nice steady salary.
To make money in trading, you need to be able to lose first, and mentally manage those losses.

How much does a day trader earn per month and how much can he lose? Have you ever thought about the fact that trading is one of those few jobs where you can stay 8 hours in front of the pc, get up, have spent your time, your mental resources and have lost money? Because it happens often, the trader lives daily between gains and losses, it is part of this career. When you see Trader publishing big earning Screenshots with a capital t. I am not referring to the fakes that are often found around with photos aboard Lamborghini, the first statement to make is not: “I want to earn as much as he does”.

These are the best brokers our community voted

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But it’s asking a simple question: “How much risk did he take to make that profit?” Everything always boils down to the simple concept of risk and return. To make $ 100 I risk 50 dollars, to make 1000 I risk 500, but to make 10,000, I risk 5,000. I am able with my level of preparation to be able to risk $ 500 per trade without compromising the stability of my account.

• Can I afford to fail more than one trade safely?
• How much does a day trader earn?

So let’s get to the heart of the matter, every gain or loss in day trading is related to the single trader, to the single history of him, its formation, its capital and above all its propensity for risk. It is absolutely useless at the beginning of the career of an aspiring trader to ask this question, albeit legitimate, indeed it is counterproductive to search for an answer on the internet, because he will never find the answer to his question.

I can, as an aspiring trader, look at a great trader who risks 100 times what I risk,
with an experience 100 times greater than mine, with equipment 100 times better than mine and try to emulate it?

The trader’s career is a journey of ups and downs, where profits go up hand in hand with the losses and the risk I take. We must not rush through the stages. And don’t be afraid to fail, from experience after the biggest drawdowns the market teaches you that you were not yet ready for that step. It sends you back to gain more strength to move on to the next step.

Tackle trading with passion and “what can you teach me?”, Earnings will be a direct consequence of your growth path and will ultimately pay off the sleepless nights looking at the charts.

How much does a day trader make?

Don’t listen to everything you see

The film and advertising industry has helped to create the image of the cold, ruthless and above all rich trader! The possibility with one click to move large amounts of money and earn stellar figures in a very short time and from anywhere in the world… And of course the social media image of “gurus” owning sports cars and living the good life.

But how much does a day trader make?

You have surely seen the classics: The Wolf of Wall Street, The adventures of Gordon Gekko. Only recently the Netflix TV series “Devils” has once again brought this mysterious and fascinating profession to the fore. Unfortunately, thanks to the worldwide lockdown that hit us, many people have started looking on the internet for alternative methods to make money from home. The lack of information served them directly in the networks of elusive Ferrari gurus from Dubai. And the disappointments on day trading for beginners are just around the corner.

These promise with their systems and their signals to earn astronomical figures compared to the initial investment of a few crumbs. Account drained and here come the classic questions in succession about day trading for beginners.

“So what’s true, is day trading like gambling?”
“Is it really possible to earn and how can I do it?”

How much does a day trader earn without mincing words and lies

To your answer of how much a day trader earns, I will immediately reply in a dry way. Day trading is real and it can be a real and profitable career, but….

Only for that type of person who wants to move from day trading for beginners to an advanced level aware of having to study. The one who will approach the market with curiosity and passion. For anyone who will invest economic but also mental resources to train to face a world arena of hundreds of thousands of traders. Trader, who like him, buy and sell to bring home profits with the best software and the best equipment.

All other people who approach the market with the will to make the stroke of a lifetime and treat trading as a gamble will be swept away by the market itself. As you can see, the problem of how much a day trader earns is not one of trading. Rather than the approach and expectations that a person creates in his own head, the trader is like an entrepreneur, a specialized operator.

So why do I have to study for years for any profession, do an internship before I can earn and in trading in a year I want to double the capital? Most people and beginner day traders lose because of this. She is too lazy and too presumptuous to study, lose money, question herself. Studying again, spending sleepless nights reviewing trades, studying again to lose again and maybe only then find your way and move from day trading for beginners to earning.

Is day trading for you?

Of course, before starting a bit, you have to study and understand day trading what it is, it also takes time to stay with it, I’m not kidding and it would not be correct not to tell you. Before starting you must know otherwise with day trading you will earn zero if you do not know what technical analysis is, you do not follow a strategy and above all you do not want to waste time making transactions.

Whether it’s for you or not I can’t say, as it’s always up to you to experiment, day trading Italy is still not very widespread but this shouldn’t be an obstacle to keep you from getting started.
Have you ever day or swing trading?

If you want to learn more about some technical terms of day trading I recommend this reading:

In the meantime, we hope to have helped you and we are waiting for you in our community!

Good luck and Good Trading!