Can You Be A Successful Day Trader

Starting to day trade isn't a decision to be taken lightly. It is possible to be successful and earn a good living trading only a few hours per day, but that many months away for people just starting out. The first year is tough; there are lots of ups and downs and the only real goal should be not to lose everything. Still interested? If you still want to start day trading, then here some things you need to plan for in order to put yourself on the right path.

Many professional day traders only trade part-time, trading for one to three hours per day, and then moving onto other activities. If you are interested in day trading part-time here are some ways to do it, as well as the pitfalls you may face.
Practice is key in day trading. To be good at a sport, you practice...a lot! Even at a minimum wage job the boss usually makes you practice what you are supposed to do before doing it for real.

Many potential day traders fail to make the distinction between part-time and casual.
Being part-time is fine and recommended. You trade every day during the best times of the day and then do something else with your free time. Being a casual day trader is when you day trade whenever you have an urge to or the time permits. This isn't recommended. There is no structure, and since markets act differently at different times of the day, trading at random or casual intervals isn't a good strategic play.

Yes, you can be a part time day trader, trading stocks, futures or Forex.

Barry Norman  
The Director of Investors Trading Academy as well as a published author and educator. Barry brings with him over 35 years of financial market knowledge and experience. He holds an MBA in Finance and Economics from UCLA and an undergraduate degree in Economics from the University of Maryland. Barry was award the title of “Best Education in Europe” by Global Banking & Finance. Barry is also a presenter for the MoneyShow and many well-known news sources.