≡ Menu

Be A Millionaire: How to Day Trade For A Living

If you’ve got a working internet connection you can be a day trader. It’s really as simple as that.

But if this is something you’re looking to get into, you might not know where to start.

Read on for tips on how to day trade for a living…

How Possible is it to get into Day Trading?

It’s simple enough to get into day trading for a living, but be aware that it’s not always less work.

What does make it appealing is the fact that you will work for yourself, you can structure your own work schedule and manage your time according to your own life and timetable. It also means you can work from home, should you want to.

Another perk of this is that there are no major office costs, unlike other major businesses, and you don’t have to worry about travel. So the money you make can be used for other things, and there’s every chance you will be better off in the long-run.

What can you Trade as a Day Trader?

If you’re keen to start a day trading career, you need to think seriously about what you will be trading.

There are several markets you can go into, such as Cryptocurrencies and Stocks, as well as Gold, Futures, Eminis, Penny Stocks, CFDs, Commodities and Forex. Or how about options trading?

Choose wisely; as whatever path you decide to take, it can affect your potential income. Think about how interchangeable the market is on what you’re trading. Research the different options accessible to you before committing.

Where to Start

Get yourself sufficiently set up and there are no limits to what you can earn as a day trader, presuming you have taught yourself the basics and you feel ready to start.

You obviously will require a computer and the internet. But what many might not consider is how crucial that equipment and connection is.

A crash in hardware, or a down internet connection, could cost you. Several day traders use more than one system, in order to have a back up to refer to, should they need it.

When choosing a broker, make sure they are competitive, have a platform that suits you as the user, and that their customer support is up to standard. Again, this can be a crucial element in making money.

Finally, when it comes to a strategy, you need to use one that suits your style as a day trader.

Capital

You will need start-up capital. And this is what can scare some people off.

But gone are the days when you needed at least $25,000 to start day trading in the US. Years ago, this was the minimum amount you were advised to have in your account.

But times have changed and so have the rules around capital. Nowadays, it’s feasible to launch a career as a day trader with as little as $1,000 in your account. 

Research this; the amount of capital does depend on precisely what you are trading. You can, of course, look into .

Now you Know How to Day Trade for a Living

If you found the above information about how to day trade for a living useful, be sure to head on over to the other articles on our blog.

We offer tips on a variety of topics – from to to protect your operation.

At Your Business makes your job easier by providing assistance with common business tasks. All web services are completely free.