Many people hear about day trading and imagine it to be a fantastic way to trade stocks and easily make money in the stock market.  Unfortunately, less than 5% of everyone who tries day trading is successful.  Of those who try, most go broke in less than a year's time.  Because of this extremely low success rate, in recent years many brokers have implemented rules and regulations to restrict who can day trade stocks.

If you have a low capital base, most brokers will not allow you to day trade stocks.   Many brokers require that you have a minimum of $25,000.00 and many require $100,000.00 in your account. In addition they will ask you to prove you have adequate trading experience to be successful.  Day trading requires special software, dual monitors, level 2 trading screens, and high speed internet access to track your stocks.  Day trading is the most expensive of all the trading styles to set up.   

 

It takes, on average, a minimum of 3-5 years of practice trading every day to become proficient and successful as a day trader.  You will spend the better part of each day in front of a monitor and another 2-3 hours after that checking stock charts for the next day. 

 

Day Trading has also seen a significant demise since the inception of decimals instead of fractions.  The use of decimals was intended to tighten the spread.  Often in today's market there is only a penny between the bid and the ask.  It is considerably more difficult to scalp or do other day trading strategies that worked so well in the 80s when the spread was huge. 

 

Is there a better way to make good profits in the market?  YES!

 

There are several styles of trading that are less demanding on your time and your wallet.  And these trading styles are easier to learn, require far less capital, are lower risk, and a whole lot more fun.

 

Trading should enhance your life not consume it.  Most short term trading can be done part time for extra income.  Go to Velocity Trading to find out more about lucrative trading styles.