That’s all there is to it.
Day trading is a good alternative for you if:
- You have money to put at risk. That’s really important, because it is easy to lose money as a day trader.
- You are comfortable with risk.
- You are able to set limits and stick to them. After all, risk management and money management are the keys to protecting your capital so that you can take risk.
- You will take the time to plan your trades.
- You are willing to evaluate your performance so that you can improve.
- You enjoy the challenge of the financial markets.
Day trading is a bad idea if you:
- Can’t afford to lose money.
- Are impatient.
- Get easily frustrated.
- Get bored easily.
- Are looking to get rich quick.
Day trading is risky, it is not for everyone, and it is hardly the only way to make money in the financial markets. Some people love it, but others don’t.
