Just asking. Is there anyone who does day trading here? I am thinking of starting so im looking for information kuhusu
My advice to you is to join a company that buys and sell stocks and learn from there. Lots of info and mostly scams out there. Because of high margins and high costs associated with day-trading, you are 99.9% guranteed to loose.
Thanks, will definately do that
Hebu exound on hio bit ya joining a company that buys and sells
What is day trading ? Why is it that difficult for an individual to go for it alone
These companies that have registered stock brokers doing the trading.
All over the internet you find many people who want to be day traders. Why won’t you, considering the money being made.
However, here is what you must do: Learn how to trade first. Have a solid strategy that wins at least 50-60% of the trades sample.
Then proceed to personality tests to determine the type of trading suitable for your psyche. We have scalping (many ultra short term trades within an hour) then day trading (many short term trades within a day) swing trading (one to five trades held across days but less than a week) and finally position trading (long term trades up to months).
Scalpers and day traders have excellent technical skills. But screen time is also longer… let no one tell you that you will fail, unless they themselves did.
@Mfikizolo do you have any trading education? What is your level?
Without getting into too much, it is this learning that takes time and requires training from a professional. The success rate of doing it by himself is not good. And then it can take years. And can be costly. That is why I advised him to join an institution that trades professionally so he can learn strategies and if possible curve his own niche.
As of this writing, the firm I recommend is http://www.futuresfirst.com/
But the probability of being recruited is 3%, yes 3 out of 100 interviewees make it.
I was trained by guys who worked there before going on their own, so I agree he needs help.
Brokerage firms like day traders because they make them a lot of money. about 2% buying and 2% selling. Now, imagine you have to make at least 4% to break even. You have better luck betting than day trading…although both are losing games. My advice, dont waste your time and money making the broker rich.
I imagine you are talking from experience.
Have you traded before. Bid/ask spread versus low targets is what can cause what you describe.
Otherwise, explain to me how I make my returns.
This is informative. I have a degree and a couple of certificates in bussiness. Is there any training that you might reccomend for a begginer. Thank you in advance
First you have to establish which capital market you want to get in
- Securities/Stocks
- Derivatives e.g. futures, options, swaps or credit
- Forex
After you establish the market you want to delve in you have to find the location.
If it is forex kuna a bunch of brokers, derivatives are typically offered in mature markets e.g. NYSE etc and if it is stocks you have to base which stock market you wish to participate in. E.g. Nairobi Securities Exchange, NASDAQ, NYSE, LSE etc
After this you have to set your trading strategy. MOST ‘DAY TRADERS’ CONFUSE SPECULATION WITH INVESTMENT OR TRADING.
There are two types of analysis you can carry out.
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Fundamental analysis. How are the company fundamentals, exiting CEO?, company declaring a profit or loss?, new legislative restrictions, lawsuits, union strikes? etc
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Technical analysis. With this type of analysis you use standardized technical indicators to judge entry or exit prices on a commodity. You don’t care about how the company is performing blahblahblah, you just look at the price.
Now there are different forms of trading
-
Going long - This is typically like investing. You have heard good news or perceive that a company is going to turn a profit, is undervalued etc. You are betting that the price will increase and you will exit at a higher value
-
Shorting a currency, stock, commodity - This means that you are betting that a commodity pricing will fall. When it falls you make money.
Things to note
MAJORITY of day traders ALWAYS loose in the long term.
DO NOT GET INVOLVED IN DAY TRADING IF IT IS NOT GOING TO BE YOUR FULL TIME JOB
DO NOT CONFUSE SPECULATION WITH STRATEGY
AVOID EMOTIONAL CONNECTIONS TO STOCKS
DO NOT INVOLVE YOURSELF IN A COMPANY OR COMMODITY YOU DO NOT UNDERSTAND
LOSSES MAKETH MAN :D:D:D:D
DO NOT EFFA CONFUSE LUCK WITH ‘SUPERIOR TRADING STRATEGY’
NEVER DAY TRADE WITH MONEY THAT YOU ARE NOT WILLING TO LOSE
I personally prefer a long term approach of actual investment rather than day trading as it is a PROVEN fact that you get more returns in the long run and has less losers. Though I have dedicated 10% of my portfolio on short term trading on news that may excite me.
Start here:
http://www.babypips.com/school/graduation/forex-trading-scams/scam-faq.html
Then go back here:
http://www.babypips.com/school
After that I link you with my mentor. Why Forex? You may ask. I can only guide you in what I am good at. Stocks aren’t my speciality plus capital requirement is higher there. Stocks ideal $25,000, Futures ideal $5,000 Forex ideal $1,000.
I await to hear your story but just like most people’s, I expect that you will have made brokers a lot of money and with nothing to show for it:D:D:D
Best of luck.
‘Value investing trumps day trading’ - You heard it here first:rolleyes:
@grandpa position trading and day trading debate never ends. What I find trumps failure actually is understanding yourself. Not all can be day traders, but also not all can have the characters that allow for position trading.
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Thanks that is exactly what i needed. My capital is slightly above 1000$, ill have to dig deeper on infor concerning forex
Do you have any e books of refferance regarding this