How do people make money day-trading?

I have always been taught that day-trading is a bad route. Yet my brother knows someone making lots of money doing it, and he’s a Sophomore in college. It sounded a bit unrealistic to me, but apparently it’s true. How is he possibly doing this?

I am a day trader and often try to derive profit from the disparity in currency rates at various points of time. People who try to make some huge profit can incurr loss using this techniques but if we try to capture small pips then its a winning strategy.

One of the fund Manager of FINEXO suggested me to try this once when i was looking up for high returns. Surprisingly i made huge pips in just 1 hour and thats how i became a Day trader.

Anyways the basic requirements for successful Day trading are:

1. Excellent Command on Technical charts.

2. Look beyond what common man does.

3. Foresightedness

4. Be Different.

5. Good Source of market news and technical charts

6. Ability to draw conclusions from market updates.

If you have these you can very easily succeed here. I am using Finexo charts and updates which are quite accurate and reliable for me. If you have other sources it would be an added advantage.

Is anyone using investools now and how does it help you with day trading?

I would like to start day trading and this tool seems to be good of teaching and indication of buying and selling points. Can you provide some feedback of you have used this tool or using it now.

don’t waste your money, the only way to learn about investing is to do it yourself. go to top10traders.com it is a free website that gives you 100k to invest and learn about the stock market, great way to learn without risking any of your own money. do this for at least 6 months and see if you are any good at it before trying it for real

What is the best type of account to sign up for if i want to sart day trading?

Ameritrade has four of them: cash, cash and option, cash and margin, cash and option and margin..

Also, to elaborate on my question, is $2000 even enough to start making any kind of profit in day trading ?? And is signing up for those newsletters all over the internet that promise you the best, ‘top secret’ tips on potential stocks a hoax ??

Margin account. Newsletters can’t help you unless you’re skilled at trading and understand;
Money Management
Position sizing
Risk/Reward Ratios
Stops, limits & time horizons
Technical Analysis

The SEC does not allow brokers to allow "pattern day traders" unless they have $25,000 in their account.

The "day traders" that have been successful have read many books, watched many webinars and gone to good seminars. On average it takes 3 years (or more) to learn day trading.

what is the difference between day trading and regular stock trading?

I read that you need a 25,000 investment to be a day trader, is the same true for regular trading? and what is the difference??

Day trading is more frequent and you see if the stock will go up or down in a minute or two. While, regular stock trading is more long term leading into years.

How realistic would it be for me to eventually making a career out of day trading?

I’m 20 years old and have been investing since I was 17. I’m working towards my finance degree but I really don’t want to work a regular job and retire when I’m 95. Is it realistic for me to someday make a career out of day trading? Does anyone out there do this?

I do understand how risky of a business this is and how much luck is involved. Just looking for some experienced individuals in the field.

Yes you can, I know because I do. The real problem with most day traders are they are just gambling without having to go to a casino. You need a lot of self discipline. I have a set amount I look to make each day. Knowing when to fold is the hardest part. I don’t let anything go south long … it is gone. I don’t wait for it to start back.

I had a buddy who recently took a bath in CROC Bought one day for 70 (?) it opened down about thirty points the next day. If it had been me I would have sold at market as soon as it happened… cause it won’t get much better and it hasn’t.

It is in the selling not the buying that will make you money. If you try to hit the highest price or buy at the lowest you will go broke.

Limit your positions to two or three. So you can act quickly if you need to.