There are a lot of misconceptions about day trading in the trading industry. One being… day traders must be trading everything and anything for the entire day. This has allowed many to become discouraged from starting the journey to becoming a day trader.

Therefore, In this blog I’ll explain what is day trading, clear the misconceptions and let you in on the little secret as to what it REALLY means to be a day trader.

“What is day trading and what exactly does a day trader do?”

There are a lot of misconceptions about day trading in the trading industry. One being… day traders must be trading everything and anything for the entire day. This has allowed many to become discouraged from starting the journey to becoming a day trader.

Click Here If You Are Ready To Start Your Journey Of Becoming A Day Trader

Like “hey! I didn’t quit my stressful job so I could get another stressful job!”

Shay, What is Day Trading?

Day trading is simply buying and selling stock/s on the same day. However, many people still get it wrong. They believe that being a day trader means to click buttons and send orders out every single hour the market is open, and being glued to the screen with your “stock goggles” from market open to close.

That couldn’t be further from the truth.

“Day trading is simply buying and selling stock/s on the same day.”

If you haven’t seen the day in the life of a day trader, you need to check it out on my Youtube Channel here and project it on a big screen. 

I am a day trader, yes! But, I ONLY trade if something pops into my scan filters and if the stock FITS MY CRITERIA. If so, I’ll execute that trade on the same day; open and close the trade on the same day.

Day trading does not mean you need to sit in front of the screen every day and all day. It simply means the trade is executed within the day. You should only trade when there is a stock that fits your strategy. This is regardless of the time of the day, week, month, or year. This means, If days, weeks, or even months go by and nothing fits your strategy, you should not be trading.

90% of the work in day trading is waiting and observing, and only 10% actually involves the trader to click buttons and execute the trades.

 

Perhaps, you are thinking, “well, how would I know if something fits my strategy if I am not checking the market daily?”

I’m not saying to not check the stock market. Sure, check the stock market to see if anything is out there that fits your strategy and if so, go clobber it real good. Regardless of where I am, I am always checking the market to see if anything fits my strategy.

Being a day trading doesn’t have to be stressful or feel like a job. Day trading is about opening and closing a trade on the same day that you have patiently waited for that fits your strategy, after popping into your scans.

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