Jump to content

Day Trading Tips

Recommended Posts

Day trading can be a challenging and potentially lucrative activity, but it is not suitable for everyone. Here are some tips that may help you become a successful day trader:

Develop a trading plan: Before you start trading, it is important to have a clear plan in place. This should include your trading goals, risk tolerance, and strategies for buying and selling.

Start small: As a beginner, it is best to start with small positions and gradually increase your exposure as you gain more experience and confidence.

Learn from your mistakes: Day trading can be volatile and unpredictable, and it is likely that you will make mistakes along the way. It is important to learn from these mistakes and use them to improve your trading approach.

Keep up with market news: Stay up to date on current events and market trends that may affect the securities you are trading.

Practice risk management: Day trading involves taking on a significant amount of risk, so it is important to manage this risk carefully. This includes setting stop-loss orders and not risking more capital than you can afford to lose.

Don't let emotions drive your trades: It is important to remain disciplined and not let emotions such as greed or fear drive your trading decisions.

Overall, becoming a successful day trader requires discipline, patience, and a willingness to learn from your mistakes. It is also important to remember that day trading is not suitable for everyone and carries significant risks, so it is important to carefully consider whether it is right for you.

  • Like 1
Link to comment
On 17/12/2022 at 12:15, tradinglounge said:

Day trading can be a challenging and potentially lucrative activity, but it is not suitable for everyone. Here are some tips that may help you become a successful day trader:

Hi @tradinglounge

Thanks for sharing some tips that may help others to become successful day traders.



All the best - MongiIG

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 05/06/23 21:20
  • Posts

    • Tech Stock Market Report: Apple (AAPL),Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft MSFT, Meta Platforms, Netflix (NFLX), Alphabet GOOGL  Stock Market Summary: Tech stocks remain in bullish trend.  Elliott Wave Analysis: APPL is in Wave (a) of an (a) (b) (c) Wave iv) correction, this will affect ETFs and the Nasdaq 100. This correction should be completed at the end of the next trading session. The tech stocks in this video are fine in their bullish trend structures. Trading Strategy: Longer term traders can simply hold as the main trend structure as a bullish trend is in place. Video Chapters 00:00 Apple (AAPL) 09:35 Amazon (AMZN) 10:54 NVIDIA (NVDA) 15:44 Meta Platforms (META) 17:41 Netflix (NFLX)  19:20 Alphabet (GOOGL) 21:33 Microsoft (MSFT) 25:16 Tesla (TSLA) 31:35 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com   
    • Look Ahead to 6/6/23: RBA interest rate decision; UK retail sales; British American Tobacco Australia’s central bank is likely to keep rates at 3.85% in June, but may raise again soon as inflation remains uncomfortably high. More data is likely to show cost of living pressures continue to weigh on the British consumer. Plus, watch out for consumption trends and earnings from British American Tobacco. Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Monday 05 June 2023           
    • We would like to go short silver for technical reasons and do so at $23.58 with a stop-loss at $24.03 and a downside target at $22.15. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Monday 05 June 2023        
  • Create New...