How to Day Trade for a Living

Day trading is not a get-rich-quick scheme. If it was that easy, everyone would be a successful trader and there wouldn’t be such a high failure rate amongst traders. The most common reason people fail at day trading is because they treat it as a form of gambling that will make them rich quickly and easily. Day trading can be a profitable profession, but it is a very demanding career and not something that amateurs can dabble in.

It takes experience to become a profitable trader: on average it takes from six to eight months of daily practice. Learning to control your emotions is an important skill in successful day trading. You need to enter every trade with a well-thought-out plan and stick to it: you can’t let your emotions get the better of you in the middle of a deal. Day trading is a profession in all senses of the word and, as such, requires the right tools, adequate training, patience, and practice. To learn how to trade with real money, you need to spend hours analysing different trading styles, observing expert traders, and practicing using simulations. A mildly successful day trader can earn between $500 and $1000 a day, but remember that the amount you can expect to earn depends on the amount of capital that you have behind you.