Want to Day Trade? How to Avoid Day Trading Mistakes

When an amateur financial market participants are made reference to word Day Trading eyes glistens with dreams of  making millions in quick time.
So  does Really Day trading is so simple. As you have to keep sitting in front of your screen buying and selling stocks and make huge profits. So How much do day traders make. As per my experience in trading it takes almost 3-4 years for a serious trader to breakeven and after that sky is the limit. But 90% of traders gets wiped during 1-2 years and remaining in next 2 years.
Lets discuss the  most common trading error while day trading stocks.

1. Trading without a Day Trading Plan

Most of Day traders never create a trading plan.Too many rookie day traders enter the market without  having a  Plan. They fail to understand that they are competing against Hedge funds , Mutual Funds  and High Frequency trading platforms like online forex trading system who are there to suck money out of them. Day trader should have  entry price for buying a particular stock, your exit price and stop loss to protect from unwarranted losses.

2. Over leveraged Trading

If there is anything that can destroy a day trading ira account or online brokerage accounts is , it's margin.Margin Trading if used properly, margin is a valuable tool that ...


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