THE FUTURE OF FINANCE: 8 REASONS TO START DAY TRADING
Social media has been buzzing all over the world since the BBC featured a documentary on a global phenomenon known as Day Trading that is transforming the lives of millions. Just a few years ago this was only a dream for many, but now, technology has made the markets more accessible, and anyone can become a Day trader.
Trillions of dollars are being traded by governments, banks, dealing rooms, and hedge funds every day, but what was once thought to be the exclusive domain of Wall Street and the city is now accessible to anyone with a laptop and internet connection. Since the technology was opened to the public, millions of people are trying to find a few hours every day to trade online, with the dream in mind of one day becoming a professional trader. Day trading has become a household name for many, and the primary goal for the majority of them is to learn how to maneuver in financial markets that are offering endless opportunities. Day trading does have many advantages that largely remain unknown to the uninitiated, but what are they? We’ve interviewed many Day Traders, and put together eight reasons why we think someone would want to start day trading.
1. Day Traders Can Do It Anywhere!
Thanks to mobile internet, Day Traders do their thing wherever they want. Day Traders have the luxury, and it is luxury, of staying home in their pajamas if they wish. Most Day Traders spend about three to five hours in front of a screen every day, but this is not done in one eye-watering session. The morning investments usually take one hour to set up, then they’re free to watch a little TV, read a book in the garden, or perhaps a little market research. After lunch, they might check their results and then setup then next round of trades before going for a walk, or even a stint of jogging… if that’s their thing. A few more trades before dinner then it’s time to take notes of the successes and failures. That’s just one version. Other traders who prefer to stay away from home do their trading from coffee shop Wi-Fi, or even during the commute to work and back. Hotel lobby and beach bars were also popular with the more adventurous traders. Day trading gives total freedom to use your time as you see fit, how and where you please. How does that compare to what you’re doing now?
2. Day Traders Can Do It Anytime!
Financial markets are open to traders almost every day of the week. Add to that the time difference and day traders can access economic opportunities just about any time. Seriously, it’s a market that never stops! Once trading hours are over in Europe, the American markets are waking up with new and exciting opportunities for Day Traders! American traders operate on Japanese stocks; German traders invest in Australian commodities. The list of exciting opportunities is practically endless and continually being updated! Some traders prefer to wait for the most volatile two hours of the day when all markets around the world are active at once. This targeted trading provides maximum exposure to the most exciting possibilities. Some traders refer to those hours as “the reason why we trade,” and boast that it’s their best part of the day!
3. Day Traders Can Choose Their Own Style!
One of the most interesting facts about trading is that there is no right or wrong, only good and bad. Every trader decides for themselves what’s good for them and not. From all the traders we have interviewed, almost none had the same strategy! The one thing that didn’t vary much is how all traders protected their strategy like it was their own child, all sworn to spread the word to the world that they have come up with…. well, a strategy that works for them. When you find your way to trade, you will protect it the same way and stick to it. If it ain’t broke, don’t try to fix it!
4. Day Traders Can Still Have A Day Job!
Imagine you have a diversion that doesn’t require a significant investment, and absolutely thrills you! Well, that’s the status for a lot of traders who keep their day job and live an exhilarating alternate life of a Trader in their free time. The majority of the traders we interviewed started out without giving up their day job, and for some, trading made a huge impact on their professional lives. About 50% of the traders interviewed claim to have a better performance at work since they started trading. Since traders assess risk and reward on daily basis, they tend to develop new skills and make better decisions at work, act boldly and decisively. The confidence gained from being a Day Trader can affect your life in ways too numerous to mention.
5. Day Traders Are Masters of Their Own Destiny
Imagine that! Forging forward knowing that your future is in your own hands with nobody second guessing your decisions. Every success is yours to enjoy and be proud of. Of course, this also means that every failure is also yours to live with. Day Traders make their own decisions. They do what they want, when they want, where they want, and the only mood comes from the music playing on the stereo. Simply put, Day traders are getting busy on their own future with an industry that is revolutionizing savings investments and financial options. Day traders work hard when they’re feeling good, and have an easy day when they don’t, and nobody can tell them otherwise. Who else can say the same?
6. Day Traders Can Thrive In Any Economic Conditions
Unlike employees, business owners, and company shareholders, Day Traders can get ahead from the lows as well as the highs. When the recession hit planet Earth in 2008, companies collapsed, countries crumbled, and people everywhere felt the pinch, and yet Day Traders all over the world took advantage of that tragedy. Day Traders don’t worry about the economy; they adapt to its conditions and set strategies that can benefit from economic falls. Buy when low, sell when high is often said by traders, and a crisis can sometimes bring incredible opportunities for people with options.
7. Traders Can Try and Then Buy
Improving your quality of life can be hard. Starting and building that company you might be dreaming of takes time, and usually lots of money, and there are no guarantees that it will be successful? What happens if your business didn’t go as well as you thought it would? Almost 95% of startup businesses fail within a year of being setup. Statistics don’t lie… chances are you’ll be regretting it before you get your first annual tax bill? If you do get to make some money, you might find the entrepreneurial life is not as shiny as you thought. So many entrepreneurs work long hours just to scrape a living together. They then find themselves trapped in a perpetual state of rescuing their business, or worse; they end up giving up and losing their time and money. Day Traders get to test-drive the life of a trader before they commit. Deposits are easily withdrawn without restriction, and demo accounts with virtual funds let new traders find their feet and develop a strategy that matches their financial expectations. Not many people know, but brokers are obliged to provide dedicated Account Managers for free whenever a deposit of $250 or more is made. You will get a personal guide who will be your account manager and will guide you, even if you are starting from the ground up. In the past, people would pay a lot of money to join these courses. When you register with an online trading broker, simply make sure you request the guidance of an online trading manager, and they will give it to you for free.
8. You Will Never Get Bored Again!
You would be surprised, but not all traders start trading just for money. When we asked traders what got them into trading, an escape from boredom was an attractive incentive. It turns out that day trading is keeping a lot of people busy, and not all of them are the type you’d typically expect. Senior citizens, stay home mothers, students, many of who play the day trading game for pure excitement. Most admit they had previously seen it in movies and hadn’t understood the fuss about trading until they’d started doing it themselves. Some traders get a rush from following the news and acting on their gut feelings; others get an adrenaline buzz from analyzing numbers and charts.
Day traders believe in themselves and look to the future with optimism. Day Trading offers the potential to change lives dramatically, but you won’t have to burn bridges to get started. Every mountain scaled is done one step at a time. The first step is easy. Open an account. The next step is to take your time, use the valued resources that the brokers are offering, and get familiar with the terrain. After that your primary task is to keep learning at your own pace, keeping one eye on where you are, and one eye on where you are going. Are you ready to start climbing?